Paterson nonprofit is giving $160,000 in small grants to businesses near Great Falls
By Paterson Times Staff
Published: November 23, 2020
The New Jersey Community Development Corporation (NJCDC) is giving out $160,000 in small grants to businesses in the vicinity of Great Falls.
Businesses can use the funds to cover mortgage, rent, and other bills to stay afloat amid the economic crises triggered by the new coronavirus pandemic. They can also use the funds to establish online presence, cover inventory losses, and put in place Covid-19 safety measures.
“We recognize the challenges small businesses in our neighborhood face in overcoming the devastation caused by the COVID-19 pandemic,” Bob Guarasci, CEO of NJCDC, said.
Guarasci’s organization received $270,000 in Cares Act funding from the New Jersey Department of Community Affairs’ Neighborhood Revitalization Tax Credit (NRTC) COVID-19 Relief Program, $160,000 of which will be used to give out $5,000 grants to businesses within the Great Falls Promise Neighborhood. “Thanks to this funding from the NRTC COVID-19 Relief Program, we can help small businesses in our neighborhood survive this most challenging of times.”
Approximately 32 businesses will receive grant awards. Grants will be disbursed by mid-December. A portion of the funds will be used to provide food and give out personal protective kits to families in the neighborhood.
Is your business in the Great Falls Promise Neighborhood? Find out by clicking here. Businesses interested in applying can contact Eddie Gonzalez, NJCDC’s director of community outreach, at 973-910-1803.
Application process opened on November 18. Deadline to apply is December 2.