The state has reopened pre-registration for its Small Business Emergency Assistance Grant Program, giving small business owners and nonprofit organizations that have not previously applied for grant funding a chance to pre-register as a preliminary step towards obtaining up to $20,000.
Governor Phil Murphy allocated $200 million for the Phase 4 of the Small Business Emergency Assistance Grant Program. Funding is aimed at supporting restaurants, micro-businesses, childcare providers, and other small businesses.
“We’ve seen tens-of-thousands of small business owners in New Jersey benefit from this Grant Program offered by the NJEDA since it was initially launched in April of last year, so we’re very grateful to receive this additional funding that will help us fulfill many more requests for financial assistance,” Tim Sullivan, chief executive officer at the New Jersey Economic Development Authority (NJEDA), said. “Reopening Phase 4 will allow eligible small businesses and non-profits in New Jersey apply for grants of up to $20,000 aimed to help them replace lost revenue during the pandemic and keep their doors open for business.”
State officials are attempting to reach businesses in the hardest hit communities, including minority communities. A third of the funding is earmarked for businesses with a primary location within the 715 Census tracts designated as opportunity zones.
Deadline to pre-register is June 30 at 5 p.m.
For more information and to pre-register visit https://business.nj.gov/covid/small-business-emergency-assistance-grant-program.
Pre-registered businesses will be asked to complete an application in early July to secure grant funding.
Award will be calculated based on number of full-time employees. Micro businesses with five or fewer full-time employees and sole proprietorships will receive up to $10,000; businesses with six to 25 employees will get up to $15,000; and businesses with 26 to 50 employees will receive up to $20,000. Use the grant award estimator by clicking here to see how much your business is likely to receive.
Businesses will have to show they were adversely impacted by the Covid-19 pandemic.