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NJEDA announces Henri and Ida relief grant to support recovery for small businesses 

The New Jersey Economic Development Authority (NJEDA) announced the approval of the Henri/Ida Business Assistance Grant Program. The $10.5 million program will provide short-term, immediate rent/mortgage reimbursement in grants of $1,000 to $5,000 for NJ businesses and non-profits that suffered physical damage from the effects of recent tropical storms Henri and Ida.

The NJEDA expects to launch an online application for the program at 9:00 a.m. on Friday, September 17th. 

About the Henri/Ida Grant Program

The Henri/Ida Business Assistance Grant Program will provide support to businesses and non-profits impacted by hurricanes Henri and Ida that have up to 50 full-time equivalent employees as reported on their last WR-30 form (Q2 2021) with the NJ Department of Labor and Workforce Development (DOL) and have a commercial location in the State that suffered physical damage as a result of tropical storms Henri and Ida. 

NJEDA

“Countless New Jersey businesses endured the wrath of Tropical Storms Henri and Ida in recent weeks, and today’s action by the NJEDA’s Board will allow us to move swiftly to help those businesses in need,” said Governor Murphy. “Time is clearly of the essence and we are determined to get funds out to businesses and non-profits as quickly as possible.”

Of the $10.5 million, $10 million will be available for businesses and non-profits impacted by Ida and $500,000 will be available for businesses and non-profits impacted by Henri. Additionally, to ensure grants reach the hardest hit communities, including communities of color, one-third of the $10 million in 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.

 

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“The NJEDA shares Governor Murphy’s sense of urgency as we work to provide support to small businesses and non-profits dealing with the impact of Henri and Ida,” said NJEDA CEO Tim Sullivan. “The need for assistance is particularly dire, as these storms occurred just as New Jersey was emerging from the impact of the COVID-19 pandemic. It’s more critical than ever that we do our best to help impacted entities return to normal operations so they may continue their role as the economic drivers of New Jersey’s communities.”

Grant eligibility requirements 

Landlords and home-based businesses are not eligible for grant funding through this program. To be eligible, the applying entity must:

  • Provide certification of an unmet need due to damage and/or business interruption.
    • This includes, but is not limited to, flooding, interior or exterior damage to the building structure, roof damage, and siding damage, all of which are directly related to tropical storm Henri and Ida. Loss of power alone will not be considered physical damage.
  • Provide documentation of physical damage to the applicant’s physical commercial location.
  • Have been in operation on August 1, 2021.
  • Present a valid Employer Identification Number (EIN).
  • Submit recent wage reporting form (WR30), if applicable.
  • Submit evidence of an August rent/mortgage payment of at least $1,000 as well as have a need that is greater than $1,000.
  • Be registered to do business in the State of New Jersey, as evidenced by a valid Business Registration Certificate.
  • Be in good standing with the Department of Taxation and DOL, and if applicable, the Division of Alcoholic Beverage Control, the Department of Children and Families, and/or the Department of Human Services.
  • Complete an affidavit identifying all funding sources related to recovery from tropical storms Henri and Ida, including prior grants, insurance, and Small Business Administration loans and grants.
  • Comply with any additional requirements that may apply.

You may be interested: Hurricane Ida leaves vulnerable communities in ruin

Application process

Business owners and non-profit leaders are asked to thoroughly document all physical damage as they prepare to apply for assistance through this and any future programs, including taking clear photographs and saving receipts for repairs and associated materials.

Online applications for the Henri/Ida Business Assistance Grant Program will be available at programs.njeda.com at 9:00 a.m. on Friday, September 17th, 2021.

Applicants who have not applied for NJEDA assistance in the past will need to create a new Username and Password. Applicants who have previously applied for NJEDA COVID-19 relief programs can use their existing Username and Password. The NJEDA encourages anyone considering applying to visit programs.njeda.com prior to September 17th to create a new Username and Password or to verify that they remember their existing Username and Password.

Applications will be accepted on a first-come, first-served basis, based upon the date in which the Authority receives a completed application submission.

Businesses whose applications are denied will have the right to appeal. Appeals must be filed within the timeframe set in the declination letter (which must be at least 3 days but no longer than 10 days).

For more information, visit NJEDA Henri and Ida Relief

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.

NJEDA

NJEDA & digitalundivided showcase resources for Black & Latino Entrepreneurs

Members of New Jersey’s innovation community had the opportunity to learn about public and private resources available to entrepreneurs of color during a “Removing Barriers for Diverse Entrepreneurs” Instagram Live discussion on Wednesday that featured New Jersey Economic Development Authority (NJEDA) Chief Executive Officer (CEO) Tim Sullivan and digitalundivided CEO Lauren Maillian. The chat also spotlighted the recently-proposed Black and Latino Seed Fund, which the NJEDA intends to create to drive capital to Black- and Latino-owned enterprises.

NJEDA

The innovation economy is facing a nationwide diversity crisis. According to Crunchbase, American companies raised a record-setting $150 billion in venture capital funding in 2020, but less than one percent of this went to Black-owned companies. The numbers are even worse for women. According to digitalundivided’s ProjectDiane, Black and Latina women received just 0.64 percent of total venture capital investment between 2018 and 2019.

During the event, Sullivan and Maillian spoke about ways their organizations are working to increase access to capital for minority-owned businesses and discussed initiatives created to empower Black and Latino founders, foster equitable entrepreneurship, and create the most diverse innovation ecosystem in the country.

“Reclaiming New Jersey’s position as the nation’s leader in innovation hinges on welcoming all entrepreneurs with original ideas to pursue their dreams,” Sullivan said. “Under Governor Murphy’s leadership, we’re working with our partners in the public and private sectors to close funding gaps that exist for far too many entrepreneurs of color and ensure that founders have the resources they need to succeed.”

NJEDA

newjerseyeda We were thrilled to team up w/ @digundiv for last night’s “Removing Barriers for Diverse Entrepreneurs” Instagram Live event! Couldn’t join us? Get details on resources for entrepreneurs of color & a link to a recording of the chat. Link in bio. #IGLive

Sullivan gave an overview of New Jersey’s proposed Black and Latino Seed Fund, which will focus on driving capital to Black- and Latino-owned enterprises. Governor Phil Murphy has proposed a $10 million Fiscal Year 2022 budget allocation to create the Fund. Crafted with input from Black and Latino founders, investors, and policy experts, this seed fund is an important step toward tearing down the institutional barriers that hold Black and Latino entrepreneurs back and replacing them with accessible resources that respond to these innovators’ unique needs.

The concept for the Fund resulted from a Request for Information (RFI) issued by the NJEDA last year to solicit input on ways to increase access to capital for Black- and Latino-led startups. The RFI sought input from a diverse range of stakeholders, including fund managers, angel investors, venture capitalists, small-business owners, researchers and practitioners involved in entrepreneurship work, industry and trade groups, and other states’ governments.

You might be interested: It will take two centuries for the gender wage gap to close for Latinas if we do nothing

Sullivan also outlined a comprehensive suite of initiatives advanced by Governor Murphy to foster equitable entrepreneurship and create the most diverse innovation ecosystem in the country. This includes adding new bonuses to:

It also includes adding a diversity bonus to the NJEDA’s own venture investment plan, and an increased investment cap for investments in certified woman- or minority-owned businesses under the New Jersey Innovation Evergreen Fund, created under the Economic Recovery Act of 2020.  

During the Instagram Live chat, Maillian highlighted digitalundivided’s mission and resources it offers Black and Latina women entrepreneurs. digitalundivided is a non-profit, social startup that leverages data and advocacy to catalyze economic growth for Black and Latina entrepreneurs in innovation and technology. Maillian spoke about the groundbreaking programs they offer including  START 2021,  a three-week virtual program for Black and Latina women founders at the idea stage of their entrepreneurial journey. She also talked about BIG Pre-Accelerator, a fast-paced pre-accelerator program for high-potential, pre-revenue Black and Latina women-led startups, as well as the Do You Fellowship, which positions high-potential, innovative Black & Latina founders for growth by providing them with funding, professional development, and access to exclusive mentorship and resources.

“Responsibility falls on all players in the innovation ecosystem to break down the barriers that far too often impede the path to success for entrepreneurs of color,” Maillian said. “It’s important to keep having conversations like we had this week and to continue connecting diverse entrepreneurs with critical resources like the programming spearheaded by NJEDA and digitalundivided. Working together, we will encourage innovation in NJ and have a lasting impact on the nation’s economy.”

A recording of the Instagram Live chat can be found at https://www.instagram.com/p/CNYd6tUobXu/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

About digitalundivided

digitalundivided is a non-profit, social startup that leverages data and advocacy to catalyze economic growth for Black and Latinx women entrepreneurs in innovation and technology. Our goal is to create a world in which all women of color own their work. digitalundivided merges data and heart to change the trajectories of women’s lives. We are a connector and a catalyst, supporting Black and Latinx women entrepreneurs through best-in-class programming, mentorship, training, resources and investment. We offer unparalleled thought leadership in the space. And we bring together the shared experiences of our community to produce ground-breaking authoritative research on Black and Latinx women entrepreneurs. For more information, visit: www.digitalundivided.com and follow us on Twitter (@digundiv) and on Instagram and Facebook (@digitalundivided).

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

strategic alliances

Latinas in Business CEO appointed by NJEDA to help NJ Economic Recovery

Latinas in Business founder and CEO Susana G Baumann has been appointed to the Entrepreneur Zone Working Group by the New Jersey Economic Development Authority (NJEDA), making her an active leader in the NJ economic recovery that is expected to take place in the next months. 

Susana G Baumann

Susana G Baumann, President and CEO, Latinas in Business Inc.

This group of policy experts will evaluate the viability of reducing unemployment in marginalized communities by establishing “Entrepreneur Zones” within existing Opportunity Zones.

“As we recover from the COVID-19 pandemic, it is crucial that we redouble our efforts to achieve Governor Phil Murphy’s vision for a stronger and fairer New Jersey economy,” said NJEDA Chief Executive Officer Tim Sullivan. “Helping innovative companies launch and grow in New Jersey is a critical driver of sustainable, equitable economic growth. It is especially important to support the growth of companies in historically marginalized communities where job opportunities and access to capital are hard to come by. Entrepreneur Zones have the potential to achieve both of these goals, and the Working Group will provide valuable recommendations on how this policy could work in New Jersey.”

The Act requires the Working Group to consider whether the establishment of entrepreneur zones in which the State provides tax incentives, regulation relief, and financial support to local entrepreneurs is the most effective way to create jobs in the State. 

Susana G Baumann called to serve by NJEDA

On behalf of her experience working with Latina entrepreneurs and Latina-owned businesses, through which she has empowered them and shown the path for entrepreneurship, Susana was called to serve her fellow citizens. Susana will serve without compensation but will be considered a Special State Officer.

As an award-winning multicultural communications expert and strategist, public speaker, journalist, published author, and small business advocate, Susana has worked extensively with communities, organizations, and government agencies both locally and nationwide. 

Previously, Susana has been named “Journalist of the Year” by the Statewide Hispanic Chamber of Commerce of New Jersey for her service and advocacy to Latino small businesses; a “Latina of Influence” by Hispanic Lifestyle Magazine; and in 2018, received the Red Shoe Movement “Leaders Who Walk the Talk” Award in NYC, among other recognitions. 

influencer, Susana G Baumann

Susana G Baumann 2017 Latina of Influence by Hispanic Lifestyle Magazine.

In 2019, she was invited to become a SheSource Expert at Women’s Media Center (WMC), a progressive, nonpartisan, nonprofit organization founded by Jane Fonda, Robin Morgan, and Gloria Steinem to raise the visibility, viability, and decision-making power of women and girls in media, thereby ensuring that their stories get told and their voices are heard.

In 2020, Susana was distinguished from a pool of candidates from Encore.org, and assigned an Encore Fellowship to work with United Way of Central Jersey in New Business Development and Branding Strategy. She is also an active member of the NJ-AARP Speaker’s Bureau. 

Susana has been featured in several national media outlets including Abasto Magazine, Huffington Post, VOXXI News, Negocios Now, Americano Newspaper, CBS, FOX, Yahoo Finance News, and has been a guest to the Joe Torres TV program Tiempo at WABCTV, and several times to Contigo en la Comunidad at Univision 41 NYC.

Latina SmallBiz Expo Pitch Competition winners, Susana G Baumann

At Univision 41 Contigo en la Comunidad (L to R) Katiria Soto, Susana G Baumann, Mary Dressendofer, Tania Molina

Her extensive experience as a Latina leader and business entrepreneur has positioned her as the perfect candidate to serve on the Working Group Entrepreneur Zone, where she will continue to help better the lives of entrepreneurs in the state of New Jersey. 

You might be interested: National Conversation with Latina Leaders to address Latina Small Business recovery in Post-Covid19 economic crisis

Other relevant NJ leaders to serve in the Entrepreneur Zone Working Group

The Entrepreneur Zone Working Group will evaluate the viability of the Entrepreneur Zone concept and consider options for implementing the policy in New Jersey. The members of Entrepreneur Zone Working Group are:

  • Dr. Dale G. Caldwell – Chair of the Working Group; Professor, Farleigh Dickinson University
  • Susana G. Baumann – President and CEO, Latinas in Business Inc.
  • Kelly Brozyna – Chief Executive Officer and State Director, America’s Small Business Development Centers – New Jersey
  • Saki Dodelson – CEO and Founder, Beable
  • John Harmon – President and CEO, African American Chamber of Commerce of New Jersey
  • Jill Johnson – CEO, Institute for Entrepreneurial Leadership
  • Kevin Johnson – K Johnson Enterprises, LLC.
  • Brandon McKoy – President, New Jersey Policy Perspective
  • Carlos A. Medina, Esq. – President, Statewide Hispanic Chamber of Commerce
  • Courtenay Mercer –Principal, Mercer Planning Associates; Executive Director, Downtown NJ
  • Damon Pennington – President & CEO, ATS Group
  • Indy Samra – Co-Founder, Punjabi Chamber of Commerce
  • Tom Szaky – Founder and CEO, TerraCycle

In addition to considering the establishment of entrepreneur zones throughout the state of New Jersey, the Working Group is also charged with identifying census tracts within the State that are suitable for designation as an entrepreneur zone.

It’s a great honor for Latinas in Business to have Susana in such a position where she is called once more to serve the New Jersey community and help better the quality of life for New Jerseyeans, as she has been doing for many years. 

About NJEDA 

NJEDA, Working Group

The New Jersey Economic Development Authority (NJEDA) grows the state’s economy and increases equitable access to opportunity by supporting high-quality job creation, catalyzing investment, and fostering vibrant, inclusive community development.  NJEDA works in partnership with a diverse range of stakeholders to implement programs and initiatives that improve quality of life, enhance economic vitality, and strengthen New Jersey’s long-term economic competitiveness. Their vision is to make New Jersey a national model for sustainable and equitable economic growth by investing in communities, fostering innovation, and supporting industries with high quality-jobs in the State.