| The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Grant Program tomorrow, Friday, April 3, 2020 at 9:00 am. If you are thinking of applying, 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.
This Grant program is a $5M program that will provide grants up to $5,000 to small businesses in retail, arts entertainment, recreation, accommodation, food service, repair, maintenance, personal and laundry services.
Eligibility Guidelines for Small Business Emergency Assistance Grant Program:
Businesses applying for the Small Business Emergency Assistance Grant Program must provide:
· A contact who is authorized to speak on behalf of the company.
· Basic information about the company:
· Registered legal name and “Doing Business As” name (available here: https://www.njportal.com/DOR/BusinessNameSearch/Search/BusinessName;
· Federal Employer Identification Number (EIN);
· Year your company was established;
· Full-time employees as of December 31, 2019 and Part-Time Employees as of December 31, 2019.
· Industry as defined by your NAICS code (available here: https://www.naics.com/search/).
· Answers to the State’s basic debarment questions (See .pdf of application here: https://cv.business.nj.gov).
· Certification that the business:
· Is not a home-based business;
· Is not a prohibited business;
· Has been impacted by the COVID-19 outbreak;
· Has a material financial need that cannot be overcome without the grant funds;
· Will make a best effort not to lay off any additional employees and re-hire any whom have already been laid off;
· 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 Duane Morris:
Duane Morris has created a COVID-19 Strategy Team to help organizations plan, respond to and address this fast-moving situation. Contact your Duane Morris attorney for more information. Prior Alerts on the topic are available on the team’s webpage.
For Further Information:
If you have any questions about this Alert, please contact Brad A. Molotsky or James Greenberg or any member of the COVID-19 Strategy Team or the attorney in the firm with whom you are regularly in contact and we can direct your inquiry to the appropriate place.
Be Well. Stay Safe. Stay Vigilant.
|
