By: Michael Mandarino / Follow South Jersey Assignment Editor
NORTH BRUNSWICK, N.J. — Governor Phil Murphy announced on Tuesday that New Jersey is set to receive an additional $15 million in funding via the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The funds will boost the New Jersey Economic Development Authority’s efforts to support small businesses in need of assistance. The NJEDA’s Small Business Emergency Assistance Grant Program launched in early April with $10 million in CARES Act funds. However, subsequent phases of the grant program have made approximately $100 million in CARES Act funds available to New Jersey — $44 million of which has been awarded to more than 10,000 businesses so far.
“COVID-19 is first and foremost a health crisis, but also a severe economic crisis, and nowhere is that more evident than in the State’s small business community,” Gov. Murphy said. “Throughout this crisis, small business owners have worked incredibly hard to adapt and protect public health while supporting their employees and families. We are committed to ensuring New Jersey’s vibrant small business community weathers this storm and emerges stronger. The additional funding announced today will support businesses as they continue to adapt to the ‘new normal’ we are living with now and lay the groundwork for a speedy and complete recovery.”
Bridgeton is one of 64 towns/municipalities in the state of New Jersey in which small businesses are eligible to receive a grant of up to $10,000 via the Small Business Lease Emergency Grant program. $6 million of CARES Act funds will be used as part of this specific grant program, which will only support businesses with 5,000 square feet or fewer of space, and applications for this grant will open at 9 a.m. on Sunday, August 9.
“Supporting small businesses has been the centerpiece of the NJEDA’s COVID-19 response efforts,” NJEDA Chief Executive Officer Tim Sullivan said. “We are committed to doing all we can to help them adapt to the challenges posed by COVID-19 and prepare for a strong recovery. Using additional CARES Act funding to expand our programs will provide much-needed relief for businesses who have been struggling and for employees whose jobs have been at risk.”
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