UPDATE: NJEDA Small Business Emergency Assistance Grant Program Phase 2 Opens TODAY-6/9 @ 9am

Updated: Jun 9, 2020

SOURCE: NJ.Business.gov

Applications for the NJEDA’s Small Business Emergency Assistance Grant Program launched on April 3rd, 2020. Within an hour the program was oversubscribed; within a week the NJEDA received more than 30,000 applications. UPDATE 5/22/2020: NJEDA will be providing an additional $5 million to fund waitlisted applicants.

Information for Phase 2 of the NJEDA Small Business Emergency Assistance Grant

Applications for the expanded Small Business Emergency Assistance Grant Program Phase 2 will be available at 9:00 a.m. on June 9, 2020 in both English and Spanish. NJEDA staff will process the applications on a first-come, first-served basis. There will be no application fee.

To assist businesses with application preparations, translated copies of the application are available now in the following languages: English, Spanish, Arabic, Mandarin, Cantonese, Gujarati, Hindi, Italian, Korean, Polish, Portuguese, and Tagalog. Because the live application will only be available in English and Spanish, please contact NJEDA at languagehelp@njeda.com should you require translation assistance.

Phase 2 Program Overview and Eligibility

NJEDA will award a total of $45 million in federal CARES Act funding to small businesses. To support the Governor’s commitment to diversity and inclusion, $15 million will be reserved for businesses in Opportunity Zone-eligible census tracts, $15 million of Phase 2 funding will be set aside to support qualified businesses located in one of the 715 census tracts that were eligible to be selected as a New Jersey Opportunity Zone.

[This census tract map is provided as a courtesy and for informational purposes only. The link directs you to a site not hosted by the State. Although the data used by that website may have been provided by NJEDA as a courtesy to the public, the State and NJEDA are not responsible for and make no representation with regard to any information or content on that website. The State and NJEDA may use the same software and information to review grant applications but reserves the right to use any other appropriate software and/or information to determine the location of an application in relation to Opportunity Zone eligible census tracts.]

Additionally, all NAICS code restrictions from Phase 1 of the grant will be removed for Phase 2.

Your organization may use Phase 2 grant funding to

Reimburse revenue lost as a result of a business interruption caused by COVID-19. Funding cannot be used for capital expenses, including construction.

Phase 2 Grant Award Amounts

Businesses will receive $1,000 per full-time employee, (based on WR-30 filing). Sole proprietorships or other companies with no full-time employees will receive the minimum grant amount ($1,000).

  • Minimum grant amount (per application): $1,000

  • Maximum grant amount (per application): $10,000 (for entities with more than 10 FTEs)

Your organization is eligible for a Phase 2 Emergency Relief Grant if…

  • You have 25 or fewer full-time employees, as reported on most recent WR-30 filing with the New Jersey Department of Labor

  • You have a physical commercial location in the State of New Jersey

  • Home-based businesses must be based at a home located in New Jersey

  • You are a for-profit business or a non-profit organized as a 501(c)(3), 501(c)(4), or 501(c)(7) organization

  • Your CEO certifies that your business: 1) Was in operation on February 15, 2020; 2) 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; 3) Has been negatively impacted by the COVID-19 declared state of emergency on March 9, 2020; 4) Has a material financial need that cannot be overcome without the grant of emergency relief funds

  • Your Business: 1) Is registered to do business in the State of New Jersey; 2) Does not have any outstanding tax liabilities; 3) Is in good standing with the New Jersey Department of Labor

You can learn about other NJEDA programs and see what you may qualify for using the NJ COVID-19 Business Support Eligibility Wizard. Explore how NJEDA determines grant size with the Grant Size Estimator.

To address the massive need for support, the NJEDA has created a process for corporate and philanthropic partners to make donations to further expand the Program. For the NJEDA to effectively administer the Program, gifts to support the Small Business Emergency Assistance Grant Program must be at least $100,000 and without conditions. To avoid conflicts of interest, donors must have no existing contracts with the NJEDA and may not enter into such a contract for at least six months. Individuals and companies interested in donating to support the Small Business Emergency Assistance Grant Program