COVID-19: NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY (NJEDA) WILL OPEN APPLICATIONS FOR ITS SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM (EMERGENCY GRANT PROGRAM) ON APRIL 3, 2020
FIRST COME, FIRST SERVED: APPLICATIONS CLOSE APRIL 10, 2020
LIMITED TO NJ SMALL BUSINESSES WITH 1 – 10 FULL TIME EQUIVALENT EMPLOYEES (FTEEs)
Applications for the NJEDA Emergency Grant Program will open the morning of April 3, 2020, at 9:00 a.m. and close April 10, 2020, at 9 a.m.
To see whether your business may qualify, you may use the NJEDA’s Eligibility Wizard available at: https://assistance.business.nj.gov/
A copy of the application to assist you with preparing your submission is available now at: https://www.njeda.com/pdfs/NJEDA_COVID-19_Economic-Response-Package-Initial-W
The Emergency Grant Program will provide up to $5,000 to NJ small businesses that have between 1–10 FTEEs. Grant values are calculated at $1,000 per FTEE reported on business’ WR-30 filed with the New Jersey Department of Labor and Workforce Development. The grant may only be used for payroll and working capital; it cannot be used for any capital expenses.
The eligible business must operate within the following industries as defined by the SME’s two-digit North American Industry Classification (“NAICS”) code: Retail; Accommodation & food services; Arts, entertainment & recreation; and Other services (restricted to businesses with 3-digit NAICS of 811 and 812). Non-profits entities with the following designations will also be permitted to receive grant funding: 501(c)(3), 501(c)(4), and 501(c)(7).
Also, the CEO (or equivalent officer) of the business must certify that the business will make a best effort not to furlough or lay off any individuals from the time of application through six months after the end of the declared state of emergency (businesses that have already furloughed or laid off workers must make a best-effort pledge to re-hire those workers as soon as possible) – any material breach of its best efforts certification may result in the NJEDA seeking repayment of the grant.
The total available funding is up to $5 million of which $3 million will be set aside for NJ small businesses with 5 or fewer FTEEs.
Because funding is limited and applications are processed on a first come, first served basis, if you think your business qualifies, investigate and prepare prior to April 3, so that you can submit your application on April 3.
If you would like more guidance, please contact your Brown Moskowitz & Kallen, P.C. attorney at (973) 376-0909 via the office extensions below or the mobile telephone numbers provided.
Office Extension: 1118
Mobile: (908) 770-0166
Office Extension: 1112
Mobile: (908) 770-0160
Office Extension: 1114
Mobile: (908) 770-0165
Office Extension: 1124
Mobile: (973) 879-0544
Office Extension: 1120
Mobile: (973) 568-7559
Office Extension: 1126
Mobile: (973) 229-7928
Office Extension: 1122
Mobile: (973) 476-8139
Office Extension: 1119
Mobile: (917) 716-9302
Office Extension: 1116
Mobile: (908) 239-7625
Office Extension: 1130
Mobile: (201) 221-6814
Office Extension: 1129
Mobile: (516) 554-2460
This article is for informational purposes only and is not intended to constitute, and does not constitute, legal advice.