The NJEDA will launch the application for its Small Business Emergency Assistance Grant Program on Friday, April 3, 2020, at 9:00 am and close it on April 10, 2020, at 9 a.m. 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 Small Business Emergency Assistance Grant Program will provide up to $5,000 to NJ-based small- and medium-sized businesses and non-profits that have between 1–10 full time equivalent employees (“FTE”). The grant funding is targeted as unrestricted payroll and working capital support, and cannot be used for any capital expenses, including construction.
Grant values are calculated at $1,000 per FTEs reported on a business’ WR-30 filed with the New Jersey Department of Labor and Workforce Development.
- Minimum grant amount (per application): $1,000
- Maximum grant amount (per application): $5,000
For additional information on the NJEDA Small Business Emergency Assistance Grant Program please click here.
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/.