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NJEDA Announces launch dates for $85 million Phase 4 of the Small Business Emergency Assistance Grant Program

Phase 4 provides short-term, immediate payroll and working capital support to NJ small and medium businesses and nonprofits

Launch dates for Phase 4 funding

The New Jersey Economic Development Authority (NJEDA) announced last week Phase 4 of the Authority’s Small Business Emergency Assistance Grant Program, adding $85 million in funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Phase 4 will provide short-term operating support to a broad group of New Jersey small and medium sized businesses and nonprofits that have been negatively impacted during the declared state of emergency. More information is available here.

Interested business owners will need to pre-register here to access the application. Pre-registration will begin on Monday, April 19, 2021 at 9:00 a.m. and will close on April 29, 2021 at 5:00 p.m.  The application will be available via a phased approach following the end of the pre-registration period, as detailed below. Applicants must complete the full application to be considered for grant funding.

In line with Governor Murphy’s commitment to a stronger, fairer recovery, Phase 4 funding will be allocated to support the most adversely affected businesses, including restaurants, micro-businesses, and child care providers, as well as other small businesses. To ensure grants reach businesses in the hardest hit communities, including communities of color, one-third of funding will be targeted to businesses with a primary business location within the 715 census tracts designated as eligible to be selected as an Opportunity Zone. 

Phase 4, Small Business Emergency Assistance

newjerseyeda 🚨Reminders as we get set to launch Phase 4 of our Small Biz Emergency Assistance Grant Program: ✅Pre-registration opens tomorrow @ 9am
☑️Pre-registration is NOT first-come, first served ✅You MUST pre-register to apply bit.ly/NJEDA_Phase4 (via IG). 

“The economic impact this pandemic has wreaked in New Jersey is still being felt one year after it started, and it has disproportionally affected woman- and minority-owned businesses. The $85 million in additional funds committed to Phase 4 of the Small Business Emergency Assistance Grant Program will directly and expeditiously help these businesses stabilize their operations and minimize potential furlough or layoffs,” said NJEDA Chief Executive Officer Tim Sullivan. “Businesses that are still struggling cannot wait for assistance and we are working uninterruptedly at the NJEDA to ensure that our communities don’t just survive the pandemic, but emerge from it stronger, fairer, and ready to rebuild.”

The Small Business Emergency Assistance Grant Program was created to provide funding as efficiently and quickly as possible to small and medium-sized businesses that needed payroll and working capital support as a result of adverse economic impacts following the March 9, 2020 declaration of a State of Emergency and a Public Health Emergency. Since the launch of Phase 1 of the program on April 6, 2020, the Authority has approved nearly 44,000 grant applications representing over $214 million in total grant funding awarded through Phases 1 – 3.  The program has evolved with each phase to offer expanded eligibility and award amounts.

What you can expect from Phase 4

Phase 4 funds aim to reimburse lost revenue as result of the business interruption caused by the pandemic between March 1, 2020 and the date of the grant agreement, providing the necessary resources to any eligible business that has been temporarily shut down, has been required to reduce hours, has had at least a 20 percent drop in revenue, has been materially impacted by employees who cannot work due to the outbreak, or has a supply chain that has materially been disrupted and therefore slowed firm-level production during the pandemic.

Phase 4 once again increases the amount of funding available to businesses. Grant awards will be calculated based on the number of full-time equivalent employees (FTEs) businesses employ. Micro-businesses with five or fewer FTEs and sole proprietorships will receive up to $10,000; businesses with six to 25 FTEs will receive up to $15,000; and businesses with 26 to 50 FTEs will receive up to $20,000. A grant size estimator is available here.

You might be interested: NJEDA & digitalundivided showcase resources for Black & Latino Entrepreneurs

To maximize the funding businesses can receive in Phase 4, grant awards will be based on the peak FTE count from a business’s past eight quarters of WR-30 filings. Businesses must use funds from the Grant Program for reimbursement of lost revenue as a result of business interruption caused by the pandemic. Businesses may not use grant funds for capital expenses.

The $85,000,000 in funds available through Phase 4 will be allocated as follows:

  • Restaurants: $35 million of funding to support businesses classified as “Food Services and Drinking Places” under NAICS code 722, given the disproportionate impact these businesses have experienced due to the pandemic, including caps on on-location dining and unusual costs they incurred to adapt their business models for safe operations.
  • Child Care Providers: $10 million of funding to support businesses classified as “Child Day Care Services” under NAICS code 624410, given the disproportionate impact these businesses have experienced due to the pandemic, including caps on capacity numbers and unusual costs they incurred to adapt their business models for safe operations.
  • Micro-businesses: $25 million of funding to support businesses that have had 5 or fewer FTEs in each of their past eight quarters of WR-30 filings (including businesses with no FTEs), given the unique financial vulnerability experienced because of the pandemic by micro-businesses, which typically have lower financial reserves.
  • Other small businesses (6-50 FTE): The remaining $15 million of funding will support businesses that are not eligible under the micro-business category. 

How to Apply 

Applications will become available on a rolling basis following the pre-registration period (April 19, 2021, 9:00 a.m. to April 29, 2021, 5:00 p.m.) Pre-registered applicants will need to return to https://programs.njeda.com/en-US/ to complete an application based on the following schedule:

  • Businesses that did not apply for, or were not approved for Phase 3 funding – 9:00 a.m. on May 3, 2021
  • Restaurants and child care providers – 9:00 a.m. on May 5, 2021
  • Micro businesses (five or fewer FTEs) – 9:00 a.m. on May 10, 2021
  • All other small businesses, excluding restaurants, micro businesses, and child care providers – 9:00 a.m. on May 12, 2021

Applications for each category will be open for a period of one week and will be accepted on a first-come, first-served basis, based upon the date and time the Authority receives a completed application submission.

The NJEDA is partnering with three leading marketing agencies to coordinate strategic outreach to targeted communities. Tara Dowdell Group, Medina=Citi, and 360 Marketing and PR were selected to support these outreach efforts based on their established connections to diverse communities across the state. All three firms are minority- and/or woman-owned.

The NJEDA is providing the online pre-registration and application in English and Spanish and offering applicants access to interpretation services to support speakers of ten additional languages – Arabic, Chinese (Mandarin and Cantonese), Gujarati, Hindi, Italian, Korean, Polish, Portuguese, and Tagalog.

In addition to the Small Business Emergency Assistance Grant Program, the NJEDA administers a variety of technical assistance and low-cost financing programs for small and mid-sized businesses impacted by COVID-19. More information about these programs and other State support is available at https://business.nj.gov/covid or call 844-965-1125.

fund, funding, money

NJ FAM Fund Created to Support NJ Latinx and Black Businesses

Last week, eight mayors from urban cities announced the creation of the NJ FAM (New Jersey 40 Acres and a Mule Fund), with the collective goal of putting capital directly in the hands of New Jersey’s Black and Latinx business owners and communities, which traditionally have suffered the greatest barriers in access to financial resources.

fund, funding, money

Photo by Gabby K from Pexels

The new initiative stems from the Newark FAM Fund (Newark 40 Acres and a Mule Fund), which was introduced in September 2020 as a private investment vehicle seeking to raise $100 million to combat and reduce social and economic inequalities resulting from systemic racism. The pandemic and continued interest in the fund from across New Jersey has led to the expansion of the program into a statewide initiative.

The NJ FAM Fund was created by a partnership of eight mayors from cities in New Jersey, with assistance from New Jersey Community Capital (NJCC) and from an advisory board. The new initiative will operate with collaboration from eight cities across New Jersey: Newark, Orange, East Orange, Paterson, Camden, Trenton, Irvington, and Atlantic City.

“While the racial wealth gap is a national struggle, it is especially salient in Newark. Minority businesses have always faced more roadblocks than their counterparts and the pandemic has only worsened the issue. The NJ FAM Fund aims to help these businesses reach their full potential in these tumultuous times,” said Newark Mayor Ras J. Baraka. “These investments will be a tremendous tool for the minority business community in Newark and we are incredibly grateful for this generous support.”

“The past year has been extremely difficult and put a spotlight on the racial wealth gap that exists in our country, but we cannot pretend that this problem is something new,” said Bernel Hall, managing partner of the New Jersey FAM Fund. “We look forward to expanding this initiative as partners come to the table. Through the Fund, our goal is to help Black and Latinx business owners and developers to expand their operations, create jobs and generate wealth for the communities that they serve.”

“When the difference in median net worth between White families and Black/Latinx families is nearly 200%, that is much more than a social disparity. That kind of gap is representative of the inequitable financial policies that have kept Black and Latinx businesses and families behind the national curve for decades,” said Mayor Ted R. Green of East Orange. “This initiative is how we start to bring balance to the communities that have been devastated the most. This is how we make amends and bring generational wealth into our communities.”

“We’re proud to stand with Mayor Baraka and other city leaders who understand that an equitable business environment is crucial to maintaining the diverse identity of our urban communities,” said Mayor Reed Gusciora of Trenton. “Despite decades of institutional and financial obstacles, many of our Black and Latino residents still put in the hard work to become entrepreneurs. We need programs like the one announced today to help make sure those historical challenges are not an impediment to their long-term success.”

The name of the fund comes from one of the earliest Reconstruction promises to the newly freed slaves of 1865, to provide freshly emancipated families with “40 acres and a mule” on land along the South Carolina, Georgia and Florida coasts following the Union winning the Civil War. The radical proposal was issued on Jan. 16, 1865, and the initiative was inspired after Union General William T. Sherman and Secretary of War Edwin M. Stanton met with 20 Black ministers four days earlier. Had the policy been fully implemented and enforced, former slaves would have had a chance to be self-sufficient economically, to build, accrue and pass on wealth. However, the promise was not realized for the majority of the nation’s former slaves, and President Andrew Johnson, a sympathizer for the South, overturned the policy in the fall of 1865.

According to the New Jersey Institute for Social Justice, the median net worth of New Jersey’s white families is $309,000, while the median for New Jersey’s Latinx and Black families is just $7,020 and $5,900, respectively—one of the worst racial wealth gaps in the nation. The objective of the NJ FAM fund is to close these gaps by providing Black and Latinx business owners with a more level playing field with their competitors.

$10,000 Grant Opportunity for Black and Minority-Owned Businesses

In response to the economic challenges brought on by COVID-19 and civil unrest, Fiserv is giving back to help small businesses get Back2Business with a program focused on helping to jump-start Black- and minority-owned small businesses in hard-hit communities. 

Fiserv and AEO launch partnership to get Main Street #Back2Business

As a global leader in payments and fintech, Fiserv has proudly served millions of small businesses with technology and payment solutions for more than 35 years and they believe that companies can and should be a platform for good. 

To help elevate economic inclusion and create transformative change, Fiserv has partnered with AEO, who continues to join forces with market partners that believe in collaborating to drive wealth creation in underserved communities through entrepreneurship. 

Through their partnership, they have launched the Back2Business program which will award grants in the amount of $10,000 to Black- and minority-owned businesses that have been impacted by COVID-19 and social unrest. The grant, which will be offered to select cities, is now open for New York and surrounding areas, including all of New Jersey.

 

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The Back2Business Grant is a part of a larger Fiserv initiative to equip minority-owned small businesses with vital education, coaching, and capital to truly fuel growth of our communities, creating sustainable business and shared value for all. In addition to the grant, the program will include opportunities for mentorship and access to technology solutions that enable revenue generation.

Grant applications are now open for eligible small businesses in New York and New Jersey. Applications are due by February 26th, 2021, but the sooner you apply, the better. 

To be eligible, applicants must: 

  • Be a Black-or minority-owned small business an an adult (18+) 
  • Must have revenue of less that $1M annually 
  • Be founded prior to June 1, 2019
  • Have less than 10 employees 

Applicants can find more information and apply for the grant at https://aeoworks.org/fiserv/

AEO’s Mission: To create economic opportunities for underserved entrepreneurs throughout the United States and engineer transformational change through Research, Incubation, Convening & Advocacy to foster a robust and inclusive marketplace. AEO’s vision is for every individual in the U.S. to have access to resources and services for creating wealth, assets, and healthy communities through business ownership.

Hello Alice

Say ‘Hello Alice’ to the platform that is opening doors for small businesses and new entrepreneurs

Every entrepreneur is familiar with the struggle of getting started. A new idea takes hold of you and you start making big plans and getting goals, only to find that many doors are closed to you or you lack vital resources. This is what Hello Alice is working to change. Co-founded in 2017 by Elizabeth Gore and Carolyn Rodz, Hello Alice is a free multi-channel platform powered by machine learning, to guide business owners by providing access to funding, networks, and services.

Embracing failure on the path to entrepreneurship

Carolyn Rodz, CEO and Co-founder of Hello Alice (photo courtesy Carolyn Rodz)

CEO and co-founder, Carolyn Rodz, knows first hand what it’s like to struggle with a first-time venture. After a long career in investment banking, she make the decision to transition into entrepreneurship. She describes it as a “long, hard, expensive” transition.

“Hello Alice is what I wish I had when I started by first business 15 years ago,” says Carolyn.

Her first venture was a failed company, and she learned a lot from it. She embraces the failure because it taught her how to do better the next time. It also drove her passion for helping small businesses grow and achieve success.

“I’ve made so many mistakes,” she says. “In hindsight, I wish I would have been more transparent about being small, and asking for help. With my first business I always tried to act like a much bigger company than I was, and I’m convinced people could see right through me. If I had just sold the upside of working with a small, nimble company, I probably would have gotten so much further, and received much more support along the way.”

Carolyn’s second business venture was a success which she eventually sold. It was after this second venture that she felt doors finally started to open for her.

“With Hello Alice, our goal is to open those doors on Day 1 to put all entrepreneurs on an equal footing, giving them the knowledge, opportunities, and connections they need to thrive,” says Carolyn.

Hello Alice offers a unique experience by striping down barriers to access, but also keep the personalized experience that happens in closed, offline networks. The platform is a game changer for all entrepreneurs but especially those just getting started.

How Hello Alice is opening doors for all entrepreneurs

Hello Alice believes in business for all — by providing access to all owners, especially women, people of color, military-connected, the LGBTQ+ community, and persons with disabilities. Hello Alice exists to serve every American with an entrepreneurial spirit.

Hello Alice

“Our goal has always been to give every entrepreneur access to the resources they need to forge their own path, regardless of who they know or where they come from,” says Carolyn. “I think the fact that it’s so personal to me, and to all on our team for a variety of reasons, helps us keep the small business owners we serve front and center. It also keeps our team aligned and helps us act quickly — if we’re helping owners, we know we’re on the right path.”

Through a network of more than 200,000 owners in all 50 states and across the globe, Hello Alice is building the largest community of business owners in the country while tracking data and trends to increase owner success rate. Hello Alice has partnered with enterprise business services, government agencies, and institutions looking to serve small and medium business owners to ensure increased revenues and to provide the best possible experience for owners who want to start or grow their companies.

Carolyn at Hello Alice annual Circular Summit, a two day female focused entrepreneur event where 350 women & investors gather to network & learn. (Photo courtesy Carolyn Rodz)

Hello Alice’s machine learning provides crucial data to help each business with it’s individual needs. The platform provides a pathway for all entrepreneurs — prioritizing the needs of women, minorities, veterans, and other underrepresented business owners — to help them find knowledge, funding, networks, and services that will push their business to the next level.

“We do this by learning both who the business owner is, and the type of company they lead. These data points personalize the owner experience, but those aggregate trends also guide the broader small business ecosystem to funnel resources where they’re most needed,” explains Carolyn. “Companies utilize this aggregate data set to guide their sales, marketing and diversity goals, and to discover new, and better, ways to engage their target prospects, with the goal of creating lifelong loyal customers.”

Hello Alice is changing the game for entrepreneurs across the globe. Never before has it been so easy to access resources, funding, and networks.

“Mission matters”

The mission behind Hello Alice has always been on helping small businesses grow. Funding is no doubt of one of the most crucial and often needed aspects of launching a business. Recently, Hello Alice awarded 152 small businesses with life emergency grants during the COVID-19 pandemic.

“My most treasured experience so far has been notifying each grant recipient via a surprise Zoom call from the Hello Alice team. Some of these videos really got emotional!” says Carolyn. “We are most proud to say that 96% of recipients identify as part of the New Majority of small business owners. We went through 6 rounds of grants with 152 owners receiving funds. This pushes me to work even harder because I know the immense impact we are having on small businesses. You can read about each grant recipient here.”

You might be interested: Gov. Phil Murphy announces $100 million CARES Act funding for NJ small businesses affected by COVID-19

Hello Alice is all about helping fellow entrepreneurs get started on their path so we at Latinas In Business asked Carolyn for some words of advice for aspiring entrepreneurs and business owners.

Her first word of advice is, “Mission matters.” Having a solid and clear mission is key. “Hello Alice is the most mission-driven business I’ve ever led, and it’s the one company where there’s never been any confusion over why we do what we do. Our team has always been in lockstep when it comes to meeting our owners’ needs, and it builds an internal alignment that allows us to move quickly and make fast decisions. It also taught me the value of going big. We were going to grow fast or fail fast, but either way, I knew that with this company I was going to put it all on the table. Luckily, we grew fast, but the experience taught me that you can’t hesitate as an entrepreneur. We prioritize action because the small business owners we support need what we are building, and it taught me that no matter what business you’re in, there is no replacement for learning through implementation.”

Carolyn and Circular Summit attendees bonding on “adventure tracks” prior to the event (Photo courtesy Carolyn Rodz)

Second, “Follow your instincts. People will give you their opinions at every turn — some are worth listening to, and some are worth ignoring. The value you add as a leader is figuring out which are which. At the end of the day, you have to feel comfortable with the decisions you made for your business, and if you did what you thought was best at every turn, working in the input and feedback and all of the opinions of the smartest and most equipped people you can find, then at least you know you tried your best.”

Finally, Carolyn shares one of her favorite quotes to live by: “You only live once, but if you do it right, once is enough” –Mae West

“I look at life as a journey to be lived fully. It takes the fear of failure away, and life becomes more about taking risks, trying new things, meeting interesting people, and the experiences that we create for ourselves and those around us. It pushes me to go bigger in everything I do, and to live in the moment. We’re a tiny spec in the game of life, but we each have the potential to do something meaningful.”

Small Business Emergency Assistance Grant

NJEDA launches Small Business Emergency Assistance Grant Program Phase 2

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

NJED will award $45 million in federal CARES Act funding to small businesses. To ensure that funding goes to businesses and communities that need it most, $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. 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 COVID19. 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 non-profit organized as 501(c)(3), 501(c)(4), and 501(c)(7) organizations
  • 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 how NJEDA determines grant size with the Grant Size Calculator or access a copy of the grant application. More information is available below on the grant scope, eligibility, and the materials required for application submissions.

Information from Phase 1 of Grant Funding

Businesses can access the full Notice of Funding Availability.

 

The Small Business Emergency Assistance Grant program will provide funding as efficiently and quickly as possible to SMEs that are in need. The focus of this round of funding is on the smallest enterprises in industries that are among the most adversely impacted by the COVID-19 containment measures.

The goal of the grants is to try to preserve the ability for SMEs to support and maintain a workforce during this containment period that is as close to pre-outbreak levels as possible.

The Small Business Emergency Assistance Grant Program will provide up to $5,000 to NJ-based SMEs that have between 1–10 full time equivalent employees (“FTE”). The grant funding is targeted as unrestricted payroll and working capital support, and cannot be used for any capital expenses, including construction.

Grant values are calculated at $1,000 per FTEs reported on business’ WR-30 filed with the New Jersey Department of Labor and Workforce Development.

  • Minimum grant amount (per application): $1,000
  • Maximum grant amount (per application): $5,000

Total available funding of up to $5 million of which $3 million of the program funds will be set aside for SMEs with 5 or fewer FTEs.

Small Business Emergency Assistance Grant

Your organization is eligible for the Small Business Emergency Assistance Loan Grant if you…
  • Have between 1 and 10 FTEs. This means companies non-employee companies (holding), companies that have between 1-10 FTE utilizing 1099 employees, and larger firms are not eligible for this round of grant funding.
  • Have a physical commercial location in the State of New Jersey. Home-based businesses are not eligible for this round of grant funding. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
  • Are classified in one of the following industries: Retail (NAICS codes starting with 44… or 45…); Accommodation & food services (NAICS codes starting with 72…); Arts, entertainment & recreation (NAICS codes starting with 71…); Other services(only those with NAICS codes starting with 811… and 812). You can look up your NAICS code at naics.com/search
  • Are registered to do business in the State of New Jersey.
  • Must certify that the company is in good tax standing with the State
  • Are in good standing with the Department of Labor and Workforce Development, with all decisions of good standing at the discretion of the Commissioner of the Department of Labor and Workforce Development.
  • The CEO of the business must certify that the business:

                1. 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. SMEs that have already furloughed or laid off workers must make a best-effort pledge to re-hire those workers as soon as possible. Any material breach of its best efforts certification may result in the NJEDA seeking repayment of the grant.

                2. Has been negatively impacted by the COVID-19 declared state of emergency in Executive Order 103 (e.g., has been temporarily shut down, has been required to reduce hours, has had at least a 20% drop in revenue, has been materially impacted by employees who cannot work due to the outbreak, or has a supply chain that has materially been disrupted and therefore slowed firm-level production).

                3. Has a material financial need that cannot be overcome without the grant of emergency relief funds at this time (e.g., does not have significant cash reserves that can support the SME during this period of economic disruption

  • Non-profit organizations are eligible for this program. Eligible non-profits must have status of 501(c)(3), 501(c)(4), 501(c)(7)
additional paycheck protection program

(Photo credit Kelly-Sikkema-unsplash)

Types of businesses not eligible:

  • Related to gambling or gaming activities
  • Related to the purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices)
  • Auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale
  • Traveling merchants
  • Christmas tree sales or other outdoor storage
  • Any other activity constituting a nuisance
  • Illegal under the laws of the State of New Jersey

No fees will be collected by the authority for this program and funding will be fully disbursed as quickly as possible upon approval of grant application.

In order to apply for the grant, businesses will need to provide the following…

Contact information for someone who is authorized to speak on behalf of your company. For example: an owner or an executive such as a CEO or Executive Director

Basic information about your company.

  1. Registered legal name and “Doing Business As” name. To confirm your organization’s registered legal name, visit Business Name Search.
  2. Federal Employer Identification Number (EIN)
  3. Year your company was established
  4. Full-time employees as of December 31, 2019 and Part-Time Employees as of December 31, 2019

Your organization’s industry as defined by your NAICS code. To confirm your NAICS code, check your federal tax filing or use this site to look up your NAICS code: naics.com/search.

Be able to answer the State’s basic debarment question. To see the full application and read the State debarment questions, you may access a copy of the loan application now,

Be able to affirmatively answer and/or certify that:

  1. You are not a home-based business. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
  2. You are not a prohibited business.
  3. You have been impacted by the COVID-19 outbreak.
  4. You have a material financial need that cannot be overcome without the grant funds.
  5. You will make a best effort not to lay off any additional employees and re-hire any whom you have already laid off.
  6. Information you are providing is correct.
  7. You will allow the NJEDA to check your entries against other State sources of data.

Updated: May 22, 2020
Source: NJEDA