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NJEDA Announces Application Launch Date for Grants for Businesses Impacted by COVID-19

3/31/2020

 
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TRENTON, N.J. (March 31, 2020) – The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Grant Program on Friday, April 3, 2020 at 9:00 am. A link to the grant program application will be posted on the State’s COVID-19 Business Information Hub. The grant program is part of a package of initiatives announced last week to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.
“The launch of the grant program application marks a critical step in the State’s support of the small and mid-sized businesses that are feeling the impact of the novel coronavirus outbreak,” said NJEDA Chief Executive Officer Tim Sullivan. “The livelihood of business owners and their employees hinges on how successfully businesses can withstand this ongoing challenge. Under Governor Phil Murphy’s leadership, the State is committed to advancing resources that will help businesses recover.”
The NJEDA’s COVID-19 initiatives focus on businesses that have been hit hardest by the novel coronavirus outbreak: local small businesses, mid-size businesses that have had to close or drastically reconfigure operations, and new businesses that were just getting on their feet before the crisis hit. The programs provide a suite of compatible offerings that address these businesses’ varied needs and include mechanisms to provide funding and assistance as quickly as possible.
The NJEDA developed these relief programs using the results of an online survey of small and mid-sized businesses conducted over March 20 and 21. The survey, which was conducted in both English and Spanish, received more than 2,000 responses. Key findings that informed the NJEDA’s new programs include:
  • COVID-19 has had a significant impact on New Jersey’s business community, with 73 percent of organizations surveyed reporting a significant loss of revenue and/or contract commitments. The accommodation & food services and arts & entertainment sectors have been hit particularly hard.
  • Many businesses anticipate needing to lay off workers if support is not available, with 52 percent of respondents suggesting temporary lay-offs may be necessary if they do not receive support within the next three months.
  • Businesses need financial support, but are not requesting large sums. 96 percent of respondents predicted they would need financial assistance within the next three months, with the average amount of funding needed falling between $50,000 and $75,000.
Applications for other NJEDA COVID-19 programs, including no/low interest loans, entrepreneurship support, and technical assistance for those applying for U.S. Small Business Administration loans will be available in the coming weeks. Businesses and nonprofits can find eligibility requirements for all programs on the COVID-19 Business Information Hub or use the Eligibility Wizard to identify which emergency assistance programs they may want to consider for their business’s specific needs. Comprehensive information about New Jersey’s response to the novel coronavirus outbreak is available here: https://covid19.nj.gov/.

Eligibility Guidelines for Small Business Emergency Assistance Grant Program

Businesses applying for the Small Business Emergency Assistance Grant Program must provide:
  1. A contact who is authorized to speak on behalf of the company.
  2. Basic information about the company:
    1. Registered legal name and “Doing Business As” name (available here: https://www.njportal.com/DOR/BusinessNameSearch/Search/BusinessName;
    2. Federal Employer Identification Number (EIN);
    3. Year your company was established;
    4. Full-time employees as of December 31, 2019 and Part-Time Employees as of December 31, 2019.
  3. Industry as defined by your NAICS code (available here: https://www.naics.com/search/).
  4. Answers to the State’s basic debarment questions (See .pdf of application here: https://cv.business.nj.gov).
  5. Certification that the business:
    1. Is not a home-based business;
    2. Is not a prohibited business;
    3. Has been impacted by the COVID-19 outbreak;
    4. Has a material financial need that cannot be overcome without the grant funds;
    5. Will make a best effort not to lay off any additional employees and re-hire any whom have already been laid off;
    6. The NJEDA may check your entries against other State sources of data.
NJEDA has developed an online Grant Award Size Estimate Calculator to help eligible businesses understand what their potential grant size might be.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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MCCC+EDC
325 Columbia Turnpike
​​Suite 101
Florham Park, NJ 07932 
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Mission: The Morris County Chamber of Commerce collaboratively advances the interests of its members to champion a thriving business and community environment.
Vision: Creating member experiences that foster exceptional business success and quality of life.
  • About
    • Chamber Team
    • Our Mission
    • The President's Desk
    • Morris Business Cabinet
    • Board of Directors
    • What Members Are Saying >
      • Share a Testimonial
    • Frequently Asked Questions
    • Forums & Committees >
      • Committee Chair and Vice Chair Application
      • Ambassadors Council >
        • Ambassadors-Only Resources
      • Business Development Forum
      • Business Strategy & Tactics Forum
      • Environmental & Sustainability Forum
      • Government Affairs
      • Health & Wellness Forum
      • Hispanic Affairs Council
      • Human Resources Committee
      • Not For Profit Roundtable >
        • Nonprofit Donations
        • Not For Profit Conference Scholarship App
      • Real Estate Forum
      • Tech Talk Forum
      • Women in Business Program
      • Young Professionals Forum
    • Staff Forms - Internal Use Only
  • Why Join?
    • Join Our Chamber
    • Retail Restaurant Membership
    • Member Benefits
    • The Value of Membership >
      • Grow Your Business
      • Build Your Brand
      • Professional Development & Education
      • Government Advocacy
      • Community Outreach & Volunteering
    • Grand Opening Support
    • Member Marketing Opportunities
    • Enhance Your Directory Listing
    • Member to Member Deals
    • Member Referral Bonus
    • Connect to Morris Job Bank
  • Events
    • Chamber Event Calendar
    • Member Events Calendar
    • 100th Annual Meeting Program
    • Signature Events & Programs
    • 2021 NFP Nominations
    • Submit an Idea for an Event
  • Find A Member
    • Searchable Business Directory
    • Nonprofit Organizations
    • Professional Services >
      • Accounting, Auditing and Related Services
      • Advertising, Marketing and Related Services
      • Aerospace & Defense
      • Attorneys and Legal Services
      • Architectural, Engineering and Surveying Services
      • Banking and Financial Services
      • Business Consulting and Professional Services
    • Retail, Restaurants, & Service Providers >
      • Arts & Entertainment
      • Auto / Trucks
      • Catering & Food Products
      • Child Care & Day Care
      • Cleaning Services
      • Contractors
      • Decorating & Organizing Services
      • Environmental Services & Recycling
      • Event Planning
      • Farm & Agriculture
      • Fitness & Wellness
      • Health Care
      • Home & Garden
      • Hotels & Conference Centers
      • Moving & Storage
      • Personal Development & Coaching
      • Pet Care
      • Photography & Video Services
      • Restaurants & Bars
      • Retail Stores
      • Senior Care & Related Services
      • Shipping & Delivery
      • Travel & Leisure
    • Higher Education Partners
  • News & Info
    • Member Exchange Online Community
    • Chamber Magazines
    • Coronavirus News
    • Business Resources
    • News Around the Chamber >
      • Submit a Press Release
      • Submit a Neighbors Helping Neighbors Story
    • MCCC Blog >
      • Contribute to Our Blog
    • Chamber Newsletters
    • Social Media
  • Programs
    • Economic Development Corp.
    • Executive Council Program
    • Women in Business Executive Round Table
    • Morris Chamber Toastmasters
    • Mentor Morris
    • Entrepreneur Roundtable
    • Morris Mastermind
    • Leadership Morris >
      • Leadership Morris FAQs
      • Leadership Morris Application
      • Leadership Morris Program
      • Leadership Morris Alumni Council
    • Thrive Morris
    • Work-Based Learning Internship Program
  • MCTV
    • MCCC On-Demand
    • MCTV Let's Talk
    • Actionable Advice Video Library
    • Member Spotlights
  • Member Login