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New Jersey Economic Development Authority Grant and Loan Programs

2020-03-30T14:50:14+00:00

The New Jersey Economic Development Authority (EDA) approved a package of grant and loan programs for small and mid-sized businesses and non-profits hit hard by the coronavirus crisis. There are seven initiatives will support between 3,000 and 5,000 enterprises. The seven initiatives are:

  • Small Business Emergency Assistance Grant Program
  • Small Business Emergency Assistance Loan Program
  • Community Development Finance Institution (CDFI) Emergency Loan Loss Reserve Fund
  • CDFI Emergency Assistance Grant Program
  • NJ Entrepreneur Support Program
  • Small Business Emergency Assistance Guarantee Program
  • Emergency Technical Assistance Program

It is suggested that all business owners who are interested in these programs to QUICKLY take inventory of all necessary evidence of cash flow and income over the past year, including receipts and invoices, and to connect with your accountants to put your most effective foot forward during the application process and get in early.

For additional information on the grant and loan programs please click on the following two links:

https://www.njbia.org/edagrants/?utm_source=Real%20Magnet&utm_medium=email&utm_campaign=152612344

https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak

HBK will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. To discuss COVID-19’s effect on your business, contact your HBK advisor.

About the Author(s)
Kevin McGinn is a Senior Manager in HBK’s Blue Bell, Pennsylvania office and is a member of HBK's Tax Advisory Group. He has extensive experience in tax planning for high-net worth individuals and businesses in many industries such as distribution, manufacturing, service, and non-profit.
Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.

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