Business Resource Page
On June 12, former New Jersey Governor Chris Christie and his wife, Mary Pat Christie announced the New Jersey 30 Day Fund, a new nonprofit entity that will provide forgivable loans up to $10,000 to small businesses impacted by COVID19.New Jersey businesses that qualify for assistance from the Fund must meet the following criteria:
Employ three to 30 people
Be based in New Jersey and have been operating for at least one year
Be owned and operated by a New Jersey residentThe funds disbursed to small businesses by the New Jersey 30 Day Fund do not need to be repaid. If businesses that receive the Fund’s assistance wish to “pay it forward” to another New Jersey small business in need of assistance at a later date, they may do so by directing those dollars back to the Fund, which will disburse the funding to another New Jersey business in need.
NJEDAs Small Business Emergency Assistance Grant Program
Please be advised that the Small Business Administration (SBA) Paycheck Protection Program (PPP) has been approved. Information about the program is available here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program.
The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.
To apply for PPP, you will apply directly with your lender. You can download/view the list of SBA lenders here: https://www.sba.gov/document/support--paycheck-protection-program-participating-lenders.Additionally, you can reach out to the New Jersey Small Business Development Center (SBDC) in your area for one-on-one counseling and guidance on locating lenders that may fit your small business needs: https://njsbdc.com/.
New Jersey Economic Development Authority (NJEDA)
Small Business Emergency Assistance Grant Program - (First Come, First Served)
Notice of Funding Availability: Application Will Open at 9:00am on Friday April 3, 2020 on https://cv.business.nj.gov