September 21, 2020 at 11:45 AM
CORONAVIRUS SMALL BUSINESS GUIDE
From loss of business to remote work, things are changing fast during the COVID-19 outbreak and businesses are being forced to adapt. CO— is working to bring you the best resources and information to help you navigate this challenging time.
September 4, 2020 at 1:30 PM
UPDATED RULES ON MINORITY OR WOMEN – OWNED BUSINESSES (MWBE) DESIGNATION
The New Jersey Department of Treasury has proposed updated rules on how businesses are designated as Minority or Women-Owned Businesses (MWBE) by the State. These proposed rules would clarify eligibility requirements and procedures for certification, establish reciprocity with other certification entities including other states and the federal Disadvantaged Business Enterprise (DBE) Certification and also creates processes for challenging a denial. These proposed rules are open for review and public comment until October 16, 2020.
September 4, 2020 at 1:25 PM
UPDATE ON UTILITY PAYMENTS DURING PANDEMIC
The State’s public water, gas, and electric utility companies regulated by the Board of Public Utilities (BPU) have all agreed to extend their voluntary moratorium preventing shutoffs to both residential and commercial customers during the COVID-19 pandemic until October 15, 2020. Additionally, the utilities will offer residential and commercial customers a flexible and extended Deferred Payment Agreement (DPA) of at least 12 months and up to 24 months.
September 4, 2020 at 1:15 PM
NJEDA RECEIVES USEDA GRANT TO EXPAND SMALL BUSINESS EMERGENCY ASSISTANCE LOAN PROGRAM
Calling all New Jersey-based small businesses and nonprofits impacted by the COVID-19 pandemic. The New Jersey Economic Development Authority has expanded the Small Business Emergency Assistance Loan Program. The expansion of this program is the result of a grant from the United States Economic Development Administration’s Coronavirus Aid, Relief and Economic Security (CARES) Act appropriation.
August 31, 2020 at 3:10 PM
GOV. MURPHY WILL ALLOW INDOOR DINING TO RESUME FRIDAY, SEPT 4TH
New Jersey is expected to announce it will give a second go at indoor dining on Sept. 4, after Gov. Phil Murphy pulled the plug once on it just before the July 4 weekend. Indoor dining will be allowed to resume at 25 percent capacity, just before the start of Labor Day weekend, which typically marks the end of the summer season. Face coverings will be required, and tables will be spaced 6-feet apart.
August 31, 2020 at 1:30 PM
PPE WHOLESALE SUPPLIER REGISTRY PUBLIC LISTING
The information about the vendors and products provided on this site were volunteered by the vendors, compiled by the State, and is provided for the express purpose of assisting private businesses and organizations in New Jersey and providing them with access to potential suppliers for PPE and other COVID-related goods and services.
August 31, 2020 at 1:22 PM
E-COMMERCE TECHNICAL ASSISTANCE INTAKE FORM
In order to help stores, restaurants, and personal care businesses continue to operate safely, the NJEDA has partnered with e-commerce contractors throughout the State to provide free assistance for businesses that need help with web page design, online order fulfillment, online booking, digital payments, and other technology-related challenges. At this time, the program is designed for retail, restaurant, and personal care businesses, but all businesses that are interested should complete the intake form, as this information will inform the NJEDA on potential expansion into new industries for future programs.
August 31, 2020 at 1:15 PM
BERGEN COUNTY SMALL BUSINESS GRANT PROGRAM
The COVID-19 pandemic has had a serious financial impact on communities across the country, which prompted the passage of The Coronavirus Aid, Relief, and Economic Security (CARES) Act by the federal government. The County of Bergen, under the leadership of County Executive Jim Tedesco and the Board of Chosen Freeholders, utilizing CARES Act relief funds, has launched the Bergen County CARES Small Business Grant Program. The Bergen County CARES Small Business Grant Program is an economic stability measure designed to provide financial relief to small businesses negatively affected by the COVID-19 pandemic and to increase overall business confidence during recovery.
August 18, 2020 at 11:20 AM
SMALL LANDLORD EMERGENCY GRANT PROGRAM OPENS AUGUST 19 AT 9AM
Have your tenants had difficulty making rent payments as a result of the COVID-19 emergency? The Small Landlord Emergency Grant (SLEG) Program will reimburse small residential rental property owners for lost rent revenue due to COVID-19 between April and July 2020, as long as they agree to forgive outstanding back rent and late fees that their tenant accrued during this time.
The application portal will open on Wednesday, August 19 at 9 AM and remain open until Wednesday, August 26 at 1 PM. Once the application portal is closed, applications will be reviewed and awarded in a computer-randomized order to give each application an equal chance of being funded. Applications will be evaluated for eligibility and completeness.
Learn More | Application Checklist
August 12, 2020 at 2:40 PM
THE NJSBDC AT NJCU IS FACING DELAYS OF 3-4 WEEKS FOR 1-ON-1 COUNSELING SESSIONS
Here at the NJSBDC at NJCU center which services only Hudson County, NJ is currently facing delays of 3-4 weeks for 1-on-1 counseling sessions. We have created various resources and on-demand training resources that you can access for FREE. We created these resources to answer as many of your questions as we can without the need for a counseling session.
Here are the resources you need:
August 10, 2020 at 11:15 AM
HOW CAN THE HUDSON COUNTY SMALL BUSINESS COVID-19 RELIEF PROGRAM HELP YOUR BUSINESS?
The Hudson County Small Business Relief Program (HCSBRP) offers grants up to $20,000 to help businesses located in Hudson County with no more than 25 fulltime employees (or their part-time equivalent) affected by the COVID-19 Pandemic. Your HCSBRP Grant may be used for a range of COVID-19 Pandemic costs resulting from closure, partial closure, or interruption of your small business.
Grants may be used to pay for eligible expenses incurred or anticipated to be incurred from March 15, 2020 through August 31, 2020. To apply for an HCSBRP Grant, you must certify your business’s registration with the State Division of Taxation and provide documentation of the expenses to be addressed by your grant. Grants will be paid in full at the time of approval. Any funds improperly used or fraudulently obtained will be required to be returned with interest.
Applications will be accepted from August 3rd thru August 14th
August 5, 2020 at 1:00 PM
SMALL BUSINESS LEASE EMERGENCY ASSISTANCE GRANT PROGRAM OPENS 9:00AM on AUGUST 10,2020
The NJRA has developed a grant program with the intended use of assisting applicants in the 64 NJRA eligible communities with business operations that were adversely impacted by the COVID-19 pandemic. The SBL-EAGP is designed by the State of New Jersey to assist businesses affected during a declared NJ state of emergency.
The use of funds for this program will assist tenants and landlords in the NJRA 64 eligible communities by providing subsidy to support lease payments up to $10,000 due to COVID-19. The potential applicant is eligible to receive assistance from the NJRA if the monthly lease obligations are current. As a small business owner, the tenant may have exhausted all their savings to avoid closure of the business. The NJRA will also assist tenants, delinquent as of March 1, 2020. If the tenant was delinquent in lease payments prior to March 1, 2020, they are not eligible. To be eligible as a small business, the applicant’s leased premises must be less than 5,000 square feet of leasable space. Multiple locations leased by the same business shall be aggregated.
August 5, 2020 at 1:00 PM
NJEDA MICRO BUSINESS LOAN PROGRAM IS OUT NOW!
The Micro Business Loan Program makes financing of up to $50,000 available to businesses with annual revenues in the most current fiscal year of no greater than $1,500,000, and 10 full-time employees or less at the time of application. Financing can be used for inventory, the purchase of equipment, or working capital. Ten percent of the approved loan amount may be forgiven if the business is still open and in operation 12 months from the date of loan closing.
Startup businesses (defined as being in operation 6-12 months) are eligible for financing but must provide the Authority a business plan and five-year projections at the time of application.
July 29, 2020 at 11:25 PM
NJEDA MICRO BUSINESS LOAN PROGRAM EXPANSION EXPECTED TO RELEASE SOON
What is the Micro Business Loan Program:
- Loans of up to $50,000 to New Jersey micro businesses. Expected to be available beginning in late July.
- Businesses must be registered to do business in New Jersey, have less than $1.5 million in annual revenue, and no more than 10 full-time employees to be eligible.
- Startup businesses (in operation for at least 6-12 months), and home-based businesses/all 501c nonprofits (in operation for at least two years) are eligible to apply.
- Loans can be used for inventory, equipment, and working capital to fund business operating expenses.
- 2% interest rate, with no principal and interest payments for the first three years of the loan.
- 10% will be forgiven if the business is open and operating 12 months after the closing date.
- No application/closing fees for the first 3 months of the program.
July 23, 2020 at 2:00 PM
$6 Million in CARES Act Funding to be Allocated to NJRA Small Business Lease – Emergency Assistance Grant Program
Governor Phil Murphy today announced a new relief program for small businesses impacted by the COVID-19 pandemic. The Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP) will allow businesses in 64 eligible municipalities to apply for grants of up to $10,000 for lease costs. The program will assist small business owners impacted by the COVID-19 pandemic, which also assists landlords, many of whom are also small businesses.
“We are committed to helping small businesses across our state survive this unprecedented crisis,” said Governor Murphy. “A stronger and fairer New Jersey starts from the bottom up. The Small Business Lease – Emergency Assistance Grant Program will infuse much-needed funding into local economies by assisting both small businesses and the landlords that they rent from.”
July 14, 2020 at 1:30 PM
$7 MILLION STIMULUS FOR JERSEY CITY SMALL BUSINESSES | $7 MILLONES EN FONDOS DE ESTIMULO PARA PEQUENAS EMPRESAS DE JERSEY CITY
Mayor Steve Fulop and Hudson County Executive Tom DeGise Announce $7 Million in Stimulus Funding for Jersey City Small Businesses Impacted by the COVID-19 Pandemic. Grants up to $20,000 available for struggling, Jersey City-based, for-profit, small businesses with 25 or fewer employees.
En Espanol: El alcalde Steve Fulop y el Ejecutivo del Condado de Hudson, Tom DeGise, anuncian $ 7 millones en fondos de estímulo para las pequeñas empresas de la ciudad de Jersey City afectadas por la pandemia COVID-19. Otorga hasta $ 20,000 disponibles para para Pequeñas empresas con dificultades, con sede en Jersey City, con fines de lucro, con 25 empleados o menos.
July 7, 2020 at 12:55 PM
PAYCHECK PROTECTION PROGRAM HAS REOPENED
July 7, 2020 at 12:45 PM
U.S. DEPARTMENT OF TREASURY HAS COVID-19 RESOURCES
The U.S. Department of Treasury has a GREAT Care’s Act resource page that has up-to-date information on any & all federal relief programs.
We like it because it’s a governmental site so information from here is very accurate.
July 1, 2020 at 1:10 PM
“BASICS OF ONLINE MARKETING” IS NOW AVAILABLE ON-DEMAND
Our MOST comprehensive Online Marketing training session is now available on-demand. In this 2+ hour training video you will learn about:
- The 7 forms of online marketing
- How to most effectively use each form of marketing
- Online Tools to get started
- COVID-19 Tips you can use in today’s world
Use Access Password: 3V.844&tE0
July 1, 2020 at 12:59 PM
NJEDA GRANT APPLICATION TRACKER
The NJEDA now has an online tracker so applicants can check their grant application status. Check out the link below.
June 9, 2020 at 12:29 PM
NJEDA’S SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM IS OPEN
NJEDA will award a total of $45 million in federal CARES Act funding to small businesses. To support the Governor’s commitment to diversity and inclusion, $15 million will be reserved for businesses in Opportunity Zone-eligible census tracts, $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.
June 9, 2020 at 12:26 PM
NEW JERSEY GUIDELINES FOR REOPENING BUSINESSES
Owners of buildings used for commercial, industrial, or other enterprises, and of residential buildings with at least 50 units, must implement the following policies at minimum:
- Clean and disinfect high-touch areas routinely in accordance with CDC guidelines, particularly in spaces accessible to staff, customers, tenants, or other individuals, particularly following a known or potential exposure;
- Maintain current cleaning procedures in all other areas of the facility;
- Ensure that the facility has a sufficient number of workers to perform the above protocols effectively.
Additional requirements by business type, which must be followed in addition to the above universal requirements if you are one of the specified businesses, are below.
June 4, 2020 at 3:40 PM
NJEDA’S EXPANDED SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM
The expanded Small Business Emergency Assistance Grant Program will be available at 9:00 a.m. on June 9, 2020 in both English and Spanish. The $45 million program will provide grants up to $10,000 to small businesses impacted by the coronavirus pandemic. A sample application that business owners can use to prepare is available in English, Spanish, and ten additional languages at https://cv.business.nj.gov.
June 4, 2020 at 3:40 PM
SENATE PASSES SMALL BUSINESS LOAN EXTENSION BILL
The U.S. Senate by unanimous consent cleared the House-passed bill to extend the Paycheck Protection Program.
· Extends the PPP loan forgiveness period to include costs incurred over 24 weeks after a loan is issued or through Dec. 31, whichever comes first. Businesses that received a loan before the measure is enacted could keep the current eight-week period.
· Extends to Dec. 31 from June 30 a period in which loans can be forgiven if businesses restore staffing or salary levels that were previously reduced. The provision would apply to worker and wage reductions made from Feb. 15 through 30 days after enactment of the CARES Act, which was signed into law on March 27.
· Maintains forgiveness amounts for companies that document their inability to rehire workers employed as of Feb. 15, and their inability to find similarly qualified workers by the end of the year. Under the modified measure, companies would be covered separately if they show that they couldn’t resume business levels from before Feb. 15 because they were following federal requirements for sanitization or social distancing.
· Extends the deadline to apply for a PPP loan to Dec. 31 from June 30.
· Requires at least 60% of forgiven loan amounts to come from payroll expenses.
· Repeals a provision from the CARES Act that barred companies with forgiven PPP loans from deferring their payroll tax payments.
· Allows borrowers to defer principal and interest payments on PPP loans until the SBA compensates lenders for any forgiven amounts, instead of the current six-month deferral period. Borrowers that don’t apply for forgiveness would be given at least 10 months after the program expires to start making payments.
· Establishes a minimum loan maturity period of five years following an application for loan forgiveness, instead of the current two-year deadline set by the SBA. That provision would apply to PPP loans issued after the measure is enacted, though borrowers and lenders could agree to extend current loans.
Since the House passed the bill May 28, it will now go to President Trump for his signature.
May 29, 2020 at 3:00 PM
COVID 19 FUNDING UPDATES WEBINAR
The NJEDA will be announcing a new grant they have been working on for the FIRST TIME & Several partner organizations will give their own COVID-19 updates as well. Hear from Paul Ceppi, Managing Director – Business Development, New Jersey Economic Development Authority, on the recently announced $50 million in new funding and broader eligibility criteria for the Small Business Emergency Assistance Grant Program. Under the newly-expanded program, which will provide grants up to $10,000 for COVID-impacted businesses, a wider variety of businesses will now be eligible, including home-based businesses and sole proprietorships. The program will also include presentations by:
· Michelle Richardson, Executive Director, HCEDC, Moderator
· Adam Farrah, President, UCEDC
· Lori Margolin, Dean, Continuing Education, and Workforce Development at HCCC
· Karen McIntyre, Community Outreach & Employer Engagement, Small Business Development Center at NJCU
May 29, 2020 at 2:50 PM
SBA AND TREASURY SET ASIDE $10 BILLION FOR CDFI’s TO PARTICIPATE IN PPP
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses. These dedicated funds will further ensure that the PPP reaches all communities in need of relief during the COVID-19 pandemic – a key priority for President Trump.
May 21, 2020 at 12:20 PM
CONGRESS COULD EXTEND PPP LOAN FORGIVENESS PERIOD
Senator Marco Rubio (R-Fla.) told Fox News on Wednesday that he believes there is enough support in Congress to extend the eight-week period that Paycheck Protection Program loan recipients have to use the money—this would be a big deal for businesses that may otherwise fail to bounce back before the existing forgiveness period is up.
May 18, 2020 at 2:33 AM
$50 MILLION OF ADDITIONAL CARES ACT FUNDING TO NJEDA
On Fri., May 15, Gov. Murphy announced $50 million of additional CARES Act funding to the NJEDA to develop programs to support small businesses impacted by the COVID-19 pandemic. The funds will primarily be used to provide grants that will serve as a vital lifeline for the thousands of small businesses struggling during these unprecedented times.
A package of initiatives from the New Jersey Economic Development Authority includes a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and Community Development Financial Institutions (CDFIs), funding for entrepreneurs, and a variety of resources providing technical support and marketplace information. Taken together, they will provide more than $75 million of State and private financial support, with the opportunity to grow to more than $100 million if additional philanthropic, State, and federal resources become available. The initiatives will support between 3,000 and 5,000 small and midsize enterprises and are meant to complement recently announced federal economic recovery initiatives.
May 18, 2020 at 11:05 AM
SBA’S PAYCHECK PROTECTION PROGRAM (PPP) FORGIVENESS APPLICATION RELEASED!
The SBA released this past Friday their PPP Forgiveness Application. Forgiveness on a PPP loan means that you will not have to pay it back (basically free money) if you used the funds according to SBA guidelines. If you missed our blogged explaining exactly how to be eligible for PPP Loan Forgiveness, please check out our blog post “A Small Business Owner’s Guide to PPP Loan Forgiveness” but, if you’re ready, click below to download the application for forgiveness and get started!
May 6, 2020 at 2:28 PM
SBA’S PAYCHECK PROTECTION PROGRAM STILL HAS MONEY AVAILABLE AND WHAT HAPPENED TO EIDL?
The SBA has sent us a direct email today with some good news! Here are some details from that email:
- The Paycheck Protection Program (PPP) is still taking applications and there is still money available.
- The EIDL and EIDL advanced programs are not taking new applications except for agricultural small businesses.
- SBA is still providing customer service via (800) 659-2955
- Applicants are getting EIDL disbursements between the 4-5 week mark from when they applied.
- The EIDL Advance for those approved is deposited directly into the applicants accounts often without notice.
- If an applicant gets the EIDL Advance and PPP, the EIDL advance needs to be subtracted from the PPP loan.
May 6, 2020 at 12:28 PM
NJSBDC AT NJCU WILL BE RELEASING A COVID-19 START-UP SERIES THIS MONTH
Mindshare Mondays has quickly become a very popular weekly webinar series for small businesses and entrepreneurs BUT we want to deliver even more value.
Later this month we will be releasing the titles and dates for an upcoming COVID-19 START-UP SERIES where we have taken our core curriculum of titles like: “How to Start a Business”, “How to Write a Business Plan”, and “Online Marketing” and we updated them to help entrepreneurs adjust their strategies for the COVID-19 pandemic. We have not posted any dates yet but stay tuned at the link below!
May 4, 2020 at 3:20 PM
SBA TO MAKE ECONOMIC INJURY DISASTER LOANS AVAILABLE TO U.S. AGRICULTURAL BUSINESSES IMPACTED BY COVID-19
WASHINGTON – U.S. Small Business Administration Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. SBA’s EIDL portal will reopen today as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, signed into law by the President one week ago, provided additional funding for farmers and ranchers and certain other agricultural businesses affected by the Coronavirus (COVID-19) pandemic.
“For more than 30 years, SBA has been prohibited by law from providing disaster assistance to agricultural businesses; however, as a result of the unprecedented legislation enacted by President Trump, American farmers, ranchers and other agricultural businesses will now have access to emergency working capital,” said Administrator Carranza. “These low-interest, long-term loans will help keep agricultural businesses viable while bringing stability to the nation’s vitally important food supply chains.”
May 1, 2020 at 12:00 PM
28% OF SMALL BUSINESSES SAY THEY HAVE RECEIVED THEIR FUNDS – national study by America’s SBDC and Thryv, Inc. shows
Washington, D.C. – Wave 6 of a national study shows
twenty-eight percent of those who applied for an SBA loan have received the money—an increase from 5 percent in Wave 5. More than half of small businesses, or 61 percent of those asked, said they had applied for an SBA loan. The study shows that 53 percent know their application for a federal loan is in process and 33 percent know their application has been approved.
“It’s great to see funds beginning to flow,” said Gordon Henry, Chief Strategy Officer at Thryv®
. “This is an important step in getting small businesses ready to compete as local economies start to re-open.” The federal government disburses funds through SBA pursuant to the CARES Act
April 29, 2020 at 11:58 AM
SECOND ROUND OF SMALL BUSINESS LOAN MONEY COULD EVAPORATE BY END OF THIS WEEK
In the span of one month, Congress has thrown about $600 billion at a program that provides emergency loans to small businesses battered by the coronavirus pandemic, but in the span of just a few days, the fund could once again be depleted.
Applications for low-interest loans reopened Monday after lawmakers injected an additional $310 billion into the Paycheck Protection Program last week. In the first 24 hours of the relaunch, even marred by technical glitches and website crashes, the Small Business Administration processed close to $50 billion in loans. If that pace continues, the SBA will have depleted nearly $250 billion by the end of the week.
April 28, 2020 at 11:20 AM
SBA NO LONGER ACCEPTING EIDL LOAN APPLICATIONS
The U.S. Small Business Administration didn’t resume accepting applications for disaster loans on Monday because the additional money authorized by Congress could be exhausted by previous applicants, agency officials confirmed.
“The SBA is unable to accept new applications at this time for COVID-19 Economic Injury Disaster Loan-related assistance…based upon available appropriations funding,” said Matt Coleman, a spokesman for SBA’s Region II, which includes New York State.
April 27, 2020 at 4:30 PM
GOLDMAN SACHS WILL PROVIDE $10 MILLION IN SMALL BUSINESS LOANS TO NEW JERSEY?
In order to support small businesses during the COVID-19 pandemic, Goldman Sachs, in partnership with Pursuit, has committed $10 million to provide loans for New Jersey-based small businesses. As a part of Goldman Sachs’ 10,000 Small Business Initiative, these loans will allow for small businesses to continue to operate while maintaining employee salaries.
April 24, 2020 at 1:26 PM
PRESIDENT TRUMP SIGNS $484B SMALL BUSINESS CORONAVIRUS RELIEF BILL INTO LAW
President Trump has signed the nearly $500 billion “Phase 3.5” emergency interim coronavirus relief package into law after Congress passed legislation this week replenishing the fund for small businesses and adding billions of dollars in aid to hospitals across the country amid the COVID-19 pandemic.
In an Oval Office ceremony, the president touted the bill as being “great for small businesses” and “great for the workers,” adding that the bill will “extend relief to thousands of African-American and Hispanic American business owners.”
The new interim emergency relief package, which provides $484 billion in additional funding, passed the House on Thursday and the Senate earlier this week.
April 24, 2020 at 12:02 PM
ADDITION TO SBA PROGRAM
An additional $310 billion has been added to the Paycheck Protection Program, $50 billion to the Economic Injury Disaster Loan (EIDL) program, and $10 billion for EIDL grants under the latest stimulus package.
April 24, 2020 at 12:00 PM
April 23, 2020 at 3:30 PM
NJSBDC at NJCU CURATES 120+ RESOURCES FOR SMALL BUSINESSES & COVID-19
In our efforts to support our small business community, we have curated over 120+ resources for small businesses & employees impacted by COVID-19. Whether you need funding from the SBA or want the know what Facebook is doing for COVID, it’s on this page.
See COVID-19 Resource Hub
April 23, 2020 at 1:10 PM
SMALL BUSINESSES NEED REOPENING TO SURVIVE: NATIONAL STUDY BY AMERICA’S SBDC & THRYV, INC. SHOW
Thryv and America’s Small Business Development Centers (SBDC) recently updated a national joint study of the impact of the coronavirus (COVID-19) on small business. As devastation from the virus sweeps the nation, we committed to updating the study regularly. Week-over-week data is revealing trends in demand for small business as well as future implications for their financial stability.
Read More Here
April 21, 2020 at 1:41 PM
SENATE APPROVES $480 BILLION PACKAGE TO HELP SMALL BUSINESSES & HOSPITALS
(CNN) – The Senate passed a roughly $480 billion relief package Tuesday that includes hundreds of billions of dollars in new funding for small businesses hurt by the coronavirus outbreak along with other priorities like money for hospitals and expanded Covid-19 testing.
The Senate passed the package by a voice vote, meaning most senators would not need to return to Washington, DC, during the pandemic. The bill goes to the House, which is expected to vote on the package Thursday.
Read More Here
April 21, 2020 at 1:41 PM
COVID 19 PROGRAMS FOR BUSINESSES (Presentation Download)
On April 17th, the HCEDC partnered with HCCC, JCEDC, NJBAC, UCEDC, NJEDA & others to bring a comprehensive presentation on COVID-19 programs for businesses in New Jersey.
- Steven Fulop, Mayor, City of Jersey City
- Christina Fuentes, Director of Small Business Services, NJEDA
- Melanie Willoughby, Executive Director, NJ Business Action Center
- Adam Farrah, President, UCEDC
- Wayne Meyer, President, New Jersey Community Capital
Download Presentation Here
April 21, 2020 at 11:43 AM
ADDITIONAL $600 IN UNEMPLOYMENT BENEFITS PER WEEK?
States have started to provide the extra federal jobless aid, though many did so only this week, nearly a month after businesses began shutting down.
April 17, 2020 at 2:45 PM
$10 MILLION NJEDA PROGRAM RELEASED TODAY
The New Jersey Economic Development Authority (NJEDA) today announced partnerships with six Community Development Financial Institutions (CDFIs). These partnerships will leverage New Jersey-based CDFIs to provide between $20 million and $30 million in low-cost financing to small and microbusinesses and nonprofits impacted by the COVID-19 outbreak.
April 17, 2020 at 1:20 PM
SAVE SMALL BUSINESS FUND RELEASES APRIL 20, 2020
Starting April 20, 2020 you can submit a short application that will be linked to the same page linked below. If you’d like a reminder when the application process opens, please sign up with your email address at the link above. The application will take about 10 minutes to complete and will only require your business’s W-9 form and basic supporting information about your business.
To apply, you must run a small business or chamber of commerce with between 3-20 employees (including yourself and not including independent contractors). The business must be located in an economically vulnerable community. This is defined as the bottom 80% of the most economically distressed zip codes in the United States, as ranked by the Distressed Communities Index. Before starting the application, you will be asked for the zip code where you are registered by the IRS as doing business, which will confirm your eligibility.
Each grant is for $5,000 and must be applied toward business expenses. We will send a follow-up survey to all grantees to learn how it was spent and the impact that it made.
April 16, 2020 at 1:40 PM
SBA NOTICE: LAPSE IN APPROPRIATIONS
SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.
Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
April 15, 2020 at 12:35 PM
NJEDA ACCEPTING DONATIONS TO SUPPORT SMALL BUSINESS
The New Jersey Economic Development Authority (NJEDA) will be accepting donations from individuals and companies to support the Authority’s Small Business Emergency Assistance Grant Program, which provides grants to New Jersey small businesses impacted by the COVID-19 outbreak. Individuals and companies interested in making a donation should contact firstname.lastname@example.org.
April 14, 2020 at 5:05 PM
ASBDC & GOOGLE PARTNER TO DELIVER BUSINESS RESILIENCY RESOURCES
America’s Small Business Development Center and Google have partnered to create Business Resiliency resources like templates, webinars, and more to help small businesses amid COVID-19. Click below to find the resources.
Find Resources Here
April 13, 2020 at 2:56 PM
SENATOR RUBIO PUSHING TO ALLOW FINANCIAL TECH COMPANIES PARTICIPATE IN PPP LENDING
Senator Rubio has pushed to allow FinTech firms to participate in PPP lending to increase access to loans. He tweeted early today that the US Treasury has released a new lender application for non-bank lenders such as Paypal PYPL and Square to increase the availability of loans.
Here are a current list of FinTech companies that can also help you apply for the Payment Protection Program loans:
- Cross River
- Quickbooks Capital
April 13, 2020 at 1:26 PM
NJEDA LOAN PROGRAM GET’S OVERSUBSCRIBED BUT YOU MAY STILL APPLY
At 9:00AM today the NJEDA released the second round of their Small Business Emergency Assistance Loan Program….at 9:28AM it closed based on applications already received. Applicants may continue to apply so that NJEDA has your information should additional funding become available, but further applicants should not expect a review or decision for this round of funding.
April 9, 2020 at 10:49 AM
NJEDA WILL LAUNCH APPLICATION FOR THEIR SMALL BUSINESS EMERGENCY LOAN PROGRAM ON APRIL 13 AT 9AM
The Small Business Emergency Assistance Loan program is designed to provide a direct loan of up to $100,000 to NJ-based small businesses and non-profits organizations that have been in existence for at least one-year and has less than $5 million in annual revenue. These businesses much have been negatively impacted by the COVID-19 outbreak (including, but not limited to: reduction of business hours, complete closure of business, at least a 20% decline in revenue, employees unable to work, required to close by government, or disruption of supply chain).
The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Loan Program on Monday, April 13, 2020 at 9:00 am. A link to the program application will be posted on the State’s COVID-19 Business Information Hub.
To provide business owners the opportunity to prepare to apply for the loan, a .pdf version of the application is already available. The loan program is part of a package of initiatives announced last week to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.
Applications for the NJEDA’s Small Business Emergency Assistance Grant Program are currently available and applications for other NJEDA COVID-19 programs, including entrepreneurship support and technical assistance for businesses applying for U.S. Small Business Administration loans, will be available in the coming weeks.
Businesses and nonprofits can find eligibility requirements for all programs on the COVID-19 Business Information Hub or use the Eligibility Wizard to identify which emergency assistance programs they may want to consider for their business’s specific needs. Comprehensive information about New Jersey’s response to the novel coronavirus outbreak is available here: https://covid19.nj.gov/.
STEP’S TO TAKE:
- Learn how to apply at this COVID-19 Business Information hub article
- Check if you’re eligible (you can use this Eligibility Wizard to find out)
- Use this NJEDA Loan Application walkthrough to prepare
- Find and Apply for the program through this link on April 13, 2020 at 9:00 am sharp
Note: Last time the NJEDA released a program it closed within the hour, you HAVE to be quick as these opportunities are on a first come, first serve basis.
April 8, 2020 at 12:45 PM
BUSINESS RESILIENCE WEBINAR: KEEPING THE LIGHTS ON Hosted by: Washington SBDC State Office
An actionable business resiliency plan could mean the difference between business continuity or closure. Join Grow with Google and America’s SBDC for a no-cost Business Resiliency webinar, “Keeping the Lights On”. This webinar includes an introduction to a 25-page guide to help small business owners prepare to respond quickly and recover from disruptions. Webinar participants will receive the ‘Business Resiliency Guide’ and a ‘Business Resiliency Plan’ template they can customize to meet the specific needs of their business.
April 8, 2020 at 12:37 PM
HOW TO FIND AN SBA APPROVED LENDER
Are you having trouble finding an SBA approved lender for either the Payment Protection Program? SBA.gov has created a hub where you will find a list of lenders based on your zip code.
Click here to find a lender
April 6, 2020 at 10:40 AM
LATEST UPDATE TO SBA’S PAYMENT PROTECTION PROGRAM
The SBA released a 31-page document outlining temporary changes made to the Payment Protection Program. The main changes are:
- 1% interest rate, with a two-year repayment term.
- If one or more of your company’s owners is not a U.S citizen or domiciled in the U.S., the company still qualifies.
- Clarifies who the program considers an owner of a business. For partnerships, limited liability companies, and corporations, anyone who owns at least 20 percent equity in a company is considered an owner. For companies in which a trust owns at least 20 percent of a company, the trustee is considered an owner.
- You are disqualified from getting a PPP loan if you or any owner is presently:
- Suspended, disbarred, or proposed for disbarment.
- Declared ineligible or voluntarily excluded from participation in the transaction by any federal department or agency
- Involved in any bankruptcy.
- You or any other owner has obtained a direct or guarantee loan from the SBA or any other federal agency that is currently delinquent or has defaulted in the last seven years and caused a loss to the government.
- Seasonal businesses can now submit average monthly payroll for the time period between February 15, 2019 and June 30, 2019. New businesses can elect to use average monthly payroll between January 1, 2020 and February 29, 2020. For both seasonal businesses and new businesses you still exclude costs of over $100,000 on an annualized basis for each employee.
- Financial institutions will be required to notify law enforcement if they detect fraud, money laundering, terrorist financing, or other criminal acts and the misuse of financial institutions.
Read the full document here.
April 6, 2020 at 10:20 AM
JERSEY CITY WILL MATCH YOUR STATE GRANTS
Jersey City will match state-funded small business grants for city businesses facing financial hardships due to the coronavirus crisis, Mayor Steve Fulop announced Thursday night.
The city program will mirror the New Jersey Economic Development Authority’s (NJEDA) Small Business Emergency Assistance Grant program, which will operate from Friday through April 10.
The mayor said small businesses and non-profits that have a physical storefront can receive from $1,000 to $5,000 from the city, which will use available through Community Development Block Grant (CDBG) funds.
April 3, 2020 at 2:30 PM
THE FIRST SBA LOAN APPLICATION SUBMITTED IN NEW JERSEY
Our very own Ryan Silvestre, NJSBDC Senior Business Consultant, interviews long-time client Khoa Le , owner of K Vibe TV, to explain the in’s and out’s of the SBA Loan application process.
Keep in mind that he applied when the first version of the SBA Disaster Assitance Program rolled out almost 2 weeks ago now, the process is very different today.
April 2, 2020 at 4:00 PM
HOW TO PREPARE FOR SBA’S PAYMENT PROTECTION PROGRAM TOMORROW
SBA’s Small Business Paycheck Protection Program launches tomorrow, here is what you need to know (Overview here
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
MAKE SURE YOU MEET ELIGIBILITY REQUIREMENTS:
- Businesses and entities must have been in operation on February 15, 2020.
- Small business concerns, as well as any business concern, a 501(c)(3) nonprofit organization, a 501(c)(19) veterans organization, or Tribal business concern described in section 31(b)(2)(C) that has fewer than 500 employees, or the applicable size standard in number of employees for the North American Industry Classification System (NAICS) industry as provided by SBA, if higher.
- Individuals who operate a sole proprietorship or as an independent contractor and eligible self-employed individuals.
- Any business concern that employs not more than 500 employees per physical location of the business concern and that is assigned a NAICS code beginning with 72, for which the affiliation rules are waived.
- Affiliation rules are also waived for any business concern operating as a franchise that is assigned a franchise identifier code by the Administration, and company that receives funding through a Small Business Investment Company.
FOLLOW THESE STEPS TO SUBMIT:
- Today, Get familar with the entire process to apply and also get forgiveness here.
- Use this sample application to get the appropriate documents ready.
- Contact your local lender that is an authorized SBA 7(a) lender and ask if they are participating in the PPP program, here’s how to find a lender.
- Apply with your chosen lender, tomorrow morning!
April 2, 2020 at 11:40 PM
HOW TO PREPARE FOR NJEDA’S SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM TOMORROW
NJEDA is launching their Small Business Emergency Assistance Grant Program tomorrow, April 3, 2020 at 9:00 am. A link to the grant program application will be posted on the State’s COVID-19 Business Information Hub.
- Industries, as determined by NAICS code:
- Accommodation & Food Service
- Arts, Entertainment, & Recreation, Repair & Maintenance; Personal & Laundry Services
- (Eligible NAICS codes that start with 44, 45, 71, 72, 811, 812)
- Non-profit entities in the above industries are permitted to
receive grant funding if they also have the following
designations: 501(c)(3), 501(c)(4), and 501(c)(7)
- Must certify to negative impact of emergency
- Physical commercial location in NJ
- Must be registered to do business in New Jersey
- Department of Labor good standing
- 1-10 Full Time Employee’s (FTE) per Company’s 2019 4th Quarter NJ-WR30 filing with the Department of Labor; visit NJEDA’s grant award estimator to help determine your FTE
- Must fill out and certify simplified debarment legal questionnaire
Below are simple steps to be prepared and submit your application early:
- Review this slideshow presentation that walks through the application process (provided by NJEDA)
- Get the appropriate information together (e.g. EIN Number & NAICS Code)
- Refresh this link at 9am sharp tomorrow and look for a link to the grant application.
Note: Although the application window is until April 10, thousands of applications will be submitted on this website page and it can crash.We recommend you submit as fast as you can.
April 1, 2020 at 12:20 PM
NJEDA LAUNCH DATE FOR GRANTS FOR BUSINESSES IMPACTED BY COVID-19 IS THIS FRIDAY, APRIL 3 at 9:00AM
The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Grant Program on Friday, April 3, 2020 at 9:00 am. A link to the grant program application will be posted on the State’s COVID-19 Business Information Hub. The grant program is part of a package of initiatives announced last week to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.
VIEW ALL NJEDA PROGRAMS AVAILABLE FOR SMALL BUSINESS IMPACTED BY COVID-19
NJEDA has created many programs for businesses that have been affected by COVID-19. This powerpoint presentation explains the details of each.
NJEDA ANNOUCES AGENCIES SELECTED TO OFFER TECHNICAL ASSISTANCE TO COVID-19 IMPACTED SMALL BUSINESSES
TRENTON, N.J. (March 30, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it is partnering with four organizations to offer support services to businesses seeking federal financial assistance through Small Business Administration (SBA) programs. This technical assistance is the latest in a series of steps New Jersey is taking to help small businesses impacted by the COVID-19 outbreak.
These organizations will help small business owners file their applications through the SBA to receive working capital loans to help them survive this crisis. Additional information about SBA program is available online at http://disasterloan.sba.gov/. Read More Here
March 27, 2020 at 3:40 PM
ARE YOU ELIGIBLE FOR ANY NJ GRANTS, LOANS, PROGRAMS?
The NJEDA calls it the Emergency Assistance Eligibility Wizard. The COVID-19 outbreak is causing extraordinary disruption for companies and non-profits across the Garden State. The NJEDA wants to make it easy for organizations to understand what support programs are available to you to help stabilize your operations and get back on a pathway to growth.
This is a beta version of the Eligibility Wizard that focuses on newly announced State Emergency Assistance programs and the SBA disaster loan program. NJEDA will be updating it regularly as new federal, state, local, and philanthropic programs become available.
Read More Here
March 27, 2020 at 11:00 AM
SBA’S NEW LOAN PROCESS
The SBA has changed their Disaster Loan Assitance application process again. Here are the details:
SBA is collecting the requested information in order to make a loan under SBA’s Economic Injury Disaster Loan Program to the qualified entities listed in this application that are impacted by the Coronavirus (COVID-19). The information will be used in determining whether the applicant is eligible for an economic injury loan. If you do not submit all the information requested, your loan cannot be fully processed.
The Applicant understands that the SBA is relying upon the self-certifications contained in this application to verify that the Applicant is an eligible entity to receive the advance, and that the Applicant is providing this self-certification under penalty of perjury pursuant to 28 U.S.C. 1746 for verification purposes.
The estimated time for completing this entire application is two hours and ten minutes, although you may not need to complete all parts. You are not required to respond to this collection of information unless it displays a currently valid OMB approval number.
Read More Here
March 26, 2020 at 3:18 PM
NJEDA CREATES THE SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM
In response to the economic challenges being faced by New Jersey Small and Medium sized businesses and non-profits (collectively “SMEs”), the New Jersey Economic Development Authority (NJEDA) has created the Small Business Emergency Assistance Grant Program.
The 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.
Applications are anticipated to be opened on the week of March 30th. Completed applications will be considered on a first come, first serve rolling basis.
Read More Here
March 26, 2020 at 2:00 PM
EVERYTHING THAT’S HAPPENING IN NEW JERSEY AMID COVID-19
New jersey has created an online portal with information regarding everything that is going on in the state regarding, health, jobs, policy, and more.
We recommend bookmarking this site and visiting it frequently.
Click here to view
March 26, 2020 at 12:50 PM
FEMA IS OFFERING GRANTS
FEMA has released a press release that they are simpifying the process to apply for a grant and get funding. Click here for more information.
In summary from Fema.gov
FEMA is simplifying the Public Assistance application process. FEMA is developing a simplified online form applicants can complete, and on which they may explain work activities, answer basic questions, provide limited supporting documentation, and provide a cost estimate. FEMA and the recipient will review this information, follow up with limited requests for additional information if necessary, and award assistance. Recipients will have access to all projects in PA Grants Portal, consistent with the traditional PA process.
For no-cost assistance with the application process:
March 26, 2020 at 12:40 PM
NEW JERSEY WEBSITE FOR STATEWIDE JOB OPENINGS
We urge small business owners to continue ethical business practices and apply PTO and Sick Time whenever possible for their employees but when times get rough we understand sometimes you have to make tough decisions. Let’s work together to soften the blow and tell your employees about this nj.gov jobs portal that lists statewide job openings.
In summary from nj.gov
The State of New Jersey has developed a centralized resource to match talent with opportunities in industries on the front lines of serving New Jerseyans during the outbreak. Did you lose your job or have your hours reduced as a result of COVID-19? Businesses across New Jersey need thousands of workers for immediate hire. Learn more about who is hiring in your community here.
Employers in critical industries should submit information about openings with urgent hiring needs related to COVID19 at jobs.covid19.nj.gov/intake.
March 26, 2020 at 11:00 AM
SBA ONLINE APPLICATION NO LONGER EXISTS, HERE’S THE ALTERNATIVE:
As of this morning, the editable SBA online application no longer exists, in it’s place the SBA is asking people to manually and individually fill out each form and then upload it to this SBA website
. Details are below:
Economic Injury Disaster Loan Assistance
Small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for a long term low-interest loan due to Coronavirus (COVID-19).
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
If you are applying for disaster assistance for another declaration, then please see the home owner’s and renter’s form here.
Instructions to Apply
- Download forms below
- Fill in your information
- Upload forms on this page
- If you choose to mail, then please see Mailing Instructions below
Download Business Forms
- Business Loan Application (Form 5) (en Español)
- Home or Sole Proprietor Loan Application (SBA Form 5C) (en Español)
- Economic Injury Disaster Loan Supporting Information (Form P-019)
A Disaster Assistance loan officer may request you to fill out the following additional forms:
Home Loans or Sole Proprietor Loans
Homeowners and Renters must register with the Federal Emergency Management Agency (FEMA) to obtain a FEMA Registration ID Number by calling 1-800-621-3362. Download corresponding forms below:
All required documents listed below under Forms must be returned. All forms requiring signature must be signed and dated. Incomplete applications will not be accepted. U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Rd.
Ft. Worth, TX 76155-2243 For no-cost assistance with the application process:
March 25, 2020 at 5:08 PM
$2 TRILLION STIMULUS PACKAGE
In summary from Business Insider.com
The Senate and the White House came to a bipartisan agreement on a $2 trillion stimulus package to stabilize the American economy during the coronavirus crisis
The bill would provide $300 billion loans for small businesses and allow for payroll-tax deferment. It also includes direct payments to individuals, a stimulus for the airline industry, and increased unemployment insurance.
Here are the details:
PAY-ROLL TAX RELIEF
Who’s eligible: Businesses that continue to employ workers through the coronavirus crisis.
The stimulus bill would give businesses tax credits and allow them to defer their payroll taxes so they can continue paying employees right now.
Employers, including those that have been ordered to close, would be eligible for a new payroll-tax credit as long as they keep workers employed through the crisis. However, employers that apply for small-business loans would not receive the credit.
SMALL BUSINESS INTERRUPTION LOANS
Who’s eligible: Businesses with 500 or fewer employees that continue to employ and pay workers through the coronavirus crisis.
The government would provide loans to small and midsize businesses to prevent layoffs and to continue paying employees. Individual loans could cover six weeks of payroll, capped at $1,540 per week, per employee, The Washington Post reported last week.
Sen. Pat Toomey told NBC News earlier this week that the funding for businesses would not be grant money but loans they would be responsible for repaying. But Yahoo reported on Wednesday that provisions in the bill would in some cases allow the loans to be forgiven and effectively become grants.
The New York Times reported that “the loans would be available during an emergency period ending June 30.”
How to apply: Applicants must verify the previous six weeks of payroll and later verify that they have paid employees for eight weeks after receiving the loan.
The plan would rely on banks to facilitate the distribution of funding through the Small Business Association, as well as establish a new government lending agency. Additionally, the Federal Reserve has announced plans to create a Main Street Business Lending Program to complement the SBA in lending to small and medium businesses.
For businesses with existing SBA loans, principal and interest would be waived for six months.
The text of the bill is not finalized, but Republican and Democratic leaders expect the Senate to quickly pass the legislation.
March 25, 2020 at 11:20 AM
SBA DISASTER LOAN APPLICATION PORTAL IS UNDERGOING MAINTENENCE, HERE’S WHAT TO DO:
In the meantime, you can fill out the paper form and get these other documents together:
For more details on this SBA loan read our blog post “How to get Financial Assistance if you are impacted by COVID-19”
March 23, 2020 at 5:50 PM
HCEDC & UCEDC PARTNERSHIP PROGRAM
In response to the COVID-19 Crisis, UCEDC is offering a low-interest, quick-response, working capital loan program. Small business owners can borrow up to $15,000 at 2% for up to five years with no collateral requirements to meet their COVID-19 crisis needs.
The Crisis Relief Loan Program is designed to provide broad access to much-needed working capital. The program features a quick turn-around (after completing the application requirements), no collateral requirements, no pre-payment penalties, and no processing or application fees.
- Business impacted by the COVID-19 pandemic
- Businesses in existence at least two years and with a credit score of 680 and up are eligible to apply for up to $15,000
- Businesses in existence between one and two years, or with a credit score between 650-680 are eligible to apply for up to $10,000
- Profitable prior to the COVID-19 crisis
- No loan or credit card charge –offs within 3 years
- Personal guarantees of all owners with more than 10% ownership interest
- Completed UCEDC Loan Pre-Qualification form for all guarantors
- Copy of driver’s license
- Personal cash flow statement
- Personal financial statement
- 2018 complete business tax returns (2019 if already available)
To apply on your own, fill out their Loan Pre-Qualification Form or speak to one of their loan officers at 908-527-1166.
The NJSBDC at NJCU is supporting businesses amid COVID-19 by providing no-cost business counseling in an effort to guide business owners through the many options they have to keep their business up and growing.
If you need guidance in applying to any grants, loans, or programs for COVID-19 please register with the NJSBDC at NJCU here.
March 21, 2020 at 1:15 PM
GOVERNOR MURPHY’S EXECUTIVE ORDER
Further directs the closure of all non-essential retail businesses to the public, with the exceptions of:
• Grocery stores, farmer’s markets and farms that sell directly to customers, and other food stores, including retailers that offer a varied assortment of foods comparable to what exists at a grocery store;
• Pharmacies and medical marijuana dispensaries;
• Medical supply stores;
• Gas stations;
• Convenience stores;
• Ancillary stores within healthcare facilities;
• Hardware and home improvement stores;
• Banks and other financial institutions;
• Laundromats and dry-cleaning services;
• Stores that principally sell supplies for children under five years;
• Pet stores;
• Liquor stores;
• Car dealerships, but only for auto maintenance and repair, and auto mechanics;
• Printing and office supply shops;
• Mail and delivery stores.
Nothing in the Order shall limit:
1) the provision of health care or medical services;
2) access to essential services for low-income residents, such as food banks;
3) the operations of the media;
4) law enforcement agencies, or
5) the operations of the federal government.
Read more here:
March 20, 2020 at 4:25 PM
[IMPORTANT] OUR CENTER IS ASSISTING ALL SMALL BUSINESSES AFFECTED BY COVID-19, LEARN MORE HERE.
We have also published informative blogs for small businesses and individuals, Check them out below:
March 19, 2020 at 1:55 PM
SBA DISASTER ASSISTANCE PROGRAM IS NOW AVAILABLE IN NJ, Apply Here.
Our Regional NJSBDC office will be releasing a webinar in the next 24-48 hours to explain what this program entails and how to apply with step by step video instruction. Link to the webinar will be posted on this page and the Regional NJSBDC office website.
In the meantime, here are a couple documents to help you apply and learn details about the program on your own:
March 17, 2020 at 2:25 PM
Here we have compiled a list of all the links you need to follow updates related to the Coronavirus (COVID-19) in Hudson County and in your specific town. We recommend visiting your county & town’s Facebook, Instagram, or Twitter for LIVE updates.
HUDSON COUNTY NEWS SOURCES:
March 17, 2020 at 2:14 PM
THE SBA DISASTER ASSISTANCE LOAN
The U.S. Small Business Administration (SBA) is working directly with NJ Governor Phil Murphy to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19).
The SBA’s Economic Injury Disaster Loan (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
Find more information on the SBA’s Economic Injury Disaster Loans at: SBA.gov/Disaster .
WHAT OUR OFFICE IS DOING
When the disaster assistance loan program becomes available in New Jersey, our office will provide you with support and guidance to apply for the loans.
Please note that these loans are not for a loss of income but to keep your businesses “afloat” during this crisis (i.e. lease payments, equipment, operating assistance, employee wages, etc.) In addition, our office does not grant or approve loans. We can only help you prepare for them.
March 16, 2020 at 9:00 AM
OFFICE HOURS AND HOW TO CONTACT US
Due to health and safety concerns regarding the Coronavirus, the NJSBDC network will continue to provide services remotely until further notice. This includes all in-person small business counseling and training, as well as administrative functions and support.
However, we are making every effort to respond to all messages as quickly as possible.
Please contact us via email at email@example.com and remember to provide your:
- Company or Organization’s name
- Telephone number
And we’ll respond to your message at our earliest convenience.
Thank you, be safe and be well.
March 14, 2020 at 1:00 PM
State of New Jersey:
The State of New Jersey has established a special website devoted to business concerns during the Coronavirus emergency. The site, cv.business.nj.gov, will be updated as new information becomes available. We encourage you to communicate this with the appropriate individuals within your organization.
New Jersey Business Action Center (BAC):
In addition, the New Jersey Business Action Center’s Helpline is now available from 8:00 am – 9:00 pm, seven days a week. Call 1-800-JERSEY-7 to address any concerns you or your employees have.
More information in the links below:
Congress Finalizes COVID-19 Coronavirus Response Act: Prepare To Provide Paid Sick Leave And FMLA
March 13, 2020 at 3:22 PM
WHAT THE NJSBDC AT NJCU IS DOING AMID COVID-19
Here at NJSBDC at NJCU, we are closely following the COVID-19 crisis, regionally and globally. Along with massive disruptions in our daily lives, this outbreak is affecting our economy in many ways, from stock market hits to travel restrictions and meeting cancellations. Policymakers are doing their best to support small businesses at this critical point. As always, our Center is committed and ready to assist small businesses as the situation unfolds every day.
OUR COMMITMENT TO OUR CLIENTS
To avoid potential infection, people are (understandably) choosing to stay home. Businesses and educational institutions are doing their best to provide resources for concerned parties and managing remote teams. We want our attendees and clients to learn and network in a safe environment, without compromising anyone’s health.
With that in mind, we have decided to hold our upcoming in-person workshops and meetings online. Business must continue and thus, we encourage everyone to register for our webinars and learn from the comfort of your home/business. In addition, all client consultations will be conducted via phone and video-conference only until further notice. Our wait time is 3-5 business days.
COVID-19 HEALTH & SAFETY INFORMATION
Guidance from the CDC:
NJ Department of Health:
As circumstances evolve, we will do our best to keep you informed.
As always, NJSBDC at NJCU is here for you and your business. If you have any questions and/or concerns, we recommend that you please reach out to us via email, firstname.lastname@example.org, as physical access to our Center may be restricted.
Thank you for your patience and understanding.