Senator Anthony M. Bucco today issued a reminder to businesses that have been hard-hit by the pandemic and plan to apply for Phase 3 of New Jersey Economic Development Authority’s Small Business Emergency Grant Program that they must first pre-register for the program.
The next round of CARES Act funding for small business will fall short of the demand for help, and Senator Bucco said this should prompt businesses to register for the grant program today. (Pixabay)
The pre-registration window opened today at 9:30 a.m. and runs through 5 p.m. next Tuesday, Oct. 27.
“Small businesses across the state are struggling every day to survive the COVID economy. Today, I encourage them to take the time to register for the emergency assistance program,” said Bucco (R-25). “It’s important for businesses to register now so they can be considered when the program opens. The money ran out quickly during the first two phases of the emergency grant programs and this time will be no different as there is nowhere near enough money being allocated. If a business fails to pre-register, they will not be eligible to apply for help later.”
Businesses that have registered will have the opportunity to return later to complete an application.
Restaurants can apply beginning at 9 a.m. on Thursday, Oct. 29, followed by micro businesses at 9 a.m. Friday, Oct. 30. Applications for other businesses open Monday, Nov. 2.
“If the first two rounds are any indication, this program will be quickly over-whelmed,” Bucco reiterated. “The EDA announced that $70 million would be available, but that barely moves the needle for businesses given the calamitous impact of the coronavirus and state mandates on the economy.
“Unfortunately, more businesses will be left out in the cold than will be helped by these grants,” continued Bucco. “For that reason, I continue to press the Governor to commit more of the nearly $2 billion of unspent CARES Act funding to these EDA programs as quickly as possible. New Jersey cannot recover from the pandemic without a robust small-business community and a vigorous economy.”
Since the beginning of the pandemic, Bucco has been a constant advocate for restaurants and mom-and-pop enterprises that have been devastated by the economic lockdown.
Bucco has been working in conjunction with the Morris County Chamber of Commerce on reopening plans for business, and has been instrumental helping local towns including Morristown on behalf of downtown restaurants, taverns and other business.
For more information on Emergency Assistance Grants, visit the NJEDA web site.
Businesses can CLICK HERE to register for the program.
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