June 4, 2021 at 1:30 PM
TD BANK PLEDGES $100M TO MINORITY-OWNED SMALL-BUSINESS LENDING
TD Bank is committing $100 million to minority-owned small-business lending. The new equity fund will invest $75 million in specialized small-business investment companies aimed at assisting minority- and women-owned small businesses and those that operate in underserved communities.
The remaining $25 million will go to Black- and Hispanic-owned businesses to be funded through community development financial institutions (CDFIs).
June 3, 2021 at 10:45 AM
SBA LAUNCHES 6th ANNUAL GROWTH ACCELERATOR FUND COMPETITION, DEBUTS SBIR CATALYST TO AWARD OVER $5 MILLION IN PRIZES
The U.S. Small Business Administration announced its 6th Annual Growth Accelerator Fund Competition (GAFC) with the addition of a new component aimed at spurring investment in underrepresented communities within the innovation economy at scale. The 2021 Growth Accelerator Fund Competition and Small Business Innovation Research (SBIR) Catalyst programs will recognize the nation’s most innovative organizations with inclusive approaches towards supporting entrepreneurs in research and development (R&D). New to this year’s competition, two tracks will run totaling over $5 million in cash prizes.
June 1, 2021 at 12:30 PM
SBA ADMINISTRATOR ISSUES STATEMENT ON THE CLOSURE OF PAYCHECK PROTECTION PROGRAM
The U.S. Small Business Administrator Isabella Casillas Guzman issued the following statement on the closure of the Paycheck Protection Program (PPP) to new loan guaranty applications, which has provided over $798 billion in economic relief to small businesses and nonprofits across the nation, keeping employees employed and helping businesses come back stronger than ever.
“The Paycheck Protection Program provided over 8.5 million small businesses and nonprofits the lifeline they needed to survive during a once-in-generation economic crisis. I’ve heard story after story from small business owners across the country about how PPP funds helped them keep the lights on, pay their employees — and gave them hope,” said SBA Administrator Isabella Casillas Guzman. “At the same time, millions of underserved businesses – particularly our smallest businesses and those owned by women and people of color – were left out of early rounds of relief. I’m proud of the work we did to begin to rectify these inequities — in 2021, 96% of PPP loans went to small businesses with fewer than 20 employees. Moving forward, we will continue to prioritize equity in all SBA’s programs and services.”
May 27, 2021 at 3:40 PM
APPLICATIONS NOW OPEN FOR EMERGE JOB CREATION TAX CREDIT PROGRAM
Applications are now open for the Emerge program, a new jobs-based tax credit program created under the New Jersey Economic Recovery Act (ERA) of 2020 and administered by the New Jersey Economic Development Authority (NJEDA). The Emerge program will drive economic development in New Jersey by making tax credits available to projects that invest private capital into the state and create good-paying jobs, with a focus on the State’s priority sectors.
The Emerge program application, as well as complete rules, eligibility requirements, award sizes, and other information, are available at https://www.njeda.com/emerge.
May 26, 2021 at 2:30 PM
SBA LAUNCHES $100M COMMUNITY NAVIGATOR PILOT PROGRAM
The U.S. Small Business Administration (SBA) announced that it is accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach our nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as women and veterans. SBA will accept applications through July 12, 2021, and anticipates making award decisions by August 2021. The Biden-Harris Administration has made delivering equitable relief to hard-hit small businesses a top priority and will continue to take steps to ensure equitable distribution of relief.
May 25, 2021 at 11:50 AM
GOVERNOR MURPHY LIFTS MAJOR COVID-19 RESTRICTIONS, MOVES FORWARD WITH MOST SIGNIFICANT REOPENING STEPS TO DATE
Governor Phil Murphy signed Executive Order No. 242, lifting major COVID-19 restrictions and moving forward with the state’s most significant reopening steps to date. Effective on Friday, May 28, the indoor mask mandate in public spaces will be lifted, as well as the six-foot social distancing requirement in both indoor and outdoor spaces, the prohibition on dance floors at bars and restaurants, and the prohibition on ordering and eating/drinking while standing at bars and restaurants. Additionally, effective Friday, June 4, indoor gathering and capacity limits will be lifted.
The following changes will go into effect on Friday, May 28:
- Lifting the mask mandate in indoor public spaces.
- Lifting the six-foot social distancing requirement.
- Lifting prohibition on dance floors at bars and restaurants.
May 21, 2021 at 1:25 PM
WELLS FARGO ANNOUNCES $4 MILLION IN NEW RELIEF AID TO HELP NEW JERSEY SMALL BUSINESSES IMPACTED BY COVID-19
Wells Fargo has selected New Jersey Community Capital (NJCC) who is working in partnership with the African American Chamber of Commerce of New Jersey (AACCNJ) ($2.5 million) , the Regional Business Assistance Corporation (RBAC) ($1 million) and Cooperative Business Assistance Corporation (CBAC) ($500,000) to receive grants from its Open for Business Fund (OFB), a nationwide small business recovery effort. The $4 million in new funding to these organizations will help underserved small businesses stay open, preserve jobs through short- and long-term COVID-19 resiliency efforts.
May 19, 2021 at 10:15 AM
ADMINISTRATOR GUZMAN ANNOUNCES FINAL PUSH FOR RESTAURANT REVITALIZATION FUND APPLICATIONS
Administrator Isabella Casillas Guzman announced that eligible eating establishments have until Monday, May 24, 8 p.m. ET, to submit applications to the Restaurant Revitalization Fund.
May 17, 2021 at 2:00 PM
$2.7 MILLION FOR WOMEN’S BUSINESS CENTER RESILIENCY AND RECOVERY DEMONSTRATION GRANT
The U.S. Small Business Administration (SBA), Office of Women’s Business Ownership (OWBO) is accepting applications for the Women’s Business Centers (WBC) Resiliency and Recovery Demonstration Grant. The purpose of this opportunity is to continue or establish innovative projects that aim to improve service delivery, training, and support provided to women-owned businesses impacted by COVID-19.
May 14, 2021 at 11:15 PM
GOVERNOR MURPHY SIGNS EXECUTIVE ORDER IMPLEMENTING SECOND PHASE OF COVID-19 RESTRICTION EASING
Governor Phil Murphy signed Executive Order No. 239, moving forward with the COVID-19 restriction easing announced last week. The easing includes the complete removal of the outdoor gathering limit; an increased indoor gathering limit; the complete removal of all percentage-based capacity limits for indoor businesses, outdoor businesses, and houses of worship,; and an increased indoor large venue capacity.
May 12, 2021 at 10:00 AM
BAN ON PLASTIC BAGS AND POLYSTYRENE FOAM PRODUCTS
Effective May 4, 2022, all stores and food service businesses are banned from providing or selling single-use plastic carryout bags or polystyrene foam food service products to customers. Grocery stores that occupy at least 2,500 square feet are also banned from providing or selling single-use paper carryout bags. Instead, reusable carryout bags, as defined in the law, may be provided or sold at the point of sale. Single-use plastic straws may only be provided on a by-request basis, effective November 4, 2021. This state-wide ban supersedes any previous or existing local, county, or city ordinances.
May 11, 2021 at 3:30 PM
THE SBA FUNDS 16,000 RESTAURANT REVITALIZATION FUND AWARDS
The U.S. Small Business Administration will begin delivering economic relief from the Restaurant Revitalization Fund, established by the American Rescue Plan and signed into law by President Joe Biden, to more than 16,000 approved applicants. This first round of funding represents over $2 billion of relief awarded since last Monday’s successful program launch. Restaurants and other food and beverage businesses across the nation will begin to see funds in bank accounts as early as Tuesday, May 11.
May 10, 2021 at 12:15 PM
N.J. DROPS $100 FEE TO CERTIFY AS SMALL, MINORITY-, WOMEN- OR VETERAN-OWNED BUSINESS
Women, minorities and veterans face unique challenges when it comes to opening businesses and accessing capital. But it just got a bit easier for them in New Jersey.
In recognition of National Small Business Month, state Treasurer Elizabeth Maher Muoio announced that the $100 filing fee to become certified as a Small-, Minority-, Woman- or Veteran-Owned Business Enterprise is being waived indefinitely.
The waiver will begin June 1.
May 7, 2021 at 3:00 PM
GOV. MURPHY ANNOUNCES $275 MILLION IN RELIEF SMALL BUSINESSES AND INDIVIDUALS IMPACTED BY COVID-19 PUBLIC HEALTH CRISIS
Governor Phil Murphy announced an additional $235 million in funding for small business relief and $40 million in funding for an excluded residents fund to assist individuals negatively impacted by the COVID-19 pandemic, respectively. The new small business funding, proposed by the Governor’s Office and agreed upon by legislative leadership, will fulfill existing Phase IV small business grant requests made to the New Jersey Economic Development Authority (EDA), while the new direct cash assistance program will help New Jerseyans in need who have been excluded from previous rounds of COVID relief. Additionally, as part of the small business relief agreement between the Governor’s Office and Legislative leadership, EDA will extend Phase IV and begin accepting applications from businesses that missed the previous small business relief program deadlines.
May 6, 2021 at 1:20 PM
FUNDING FOR THE PAYCHECK PROTECTION PROGRAM HAS BEEN EXHAUSTED
The SBA will continue funding outstanding approved PPP applications, but new qualifying applications will only be funded through Community Financial Institutions, financial lenders who serve underserved communities. The SBA is committed to delivering economic aid through the many COVID relief programs it is currently administering and beyond.
For NJ, the only CFI that is participating in PPP round two is RBAC. RBAC is requesting Borrowers apply via this link: https://rbac.venturesgo.com/portal/borrowerapplication/apply
What is a CFI?
Per the Economic Aid Act, a community financial Institution is one of four types of lenders:
1. Community Financial Development Institution
2. Minority Depository Institution
3. Community Development Corporation
4. Micro-lender Intermediary
May 3, 2021 at 2:30 PM
GOVERNOR MURPHY, GOVERNOR CUOMO AND GOVERNOR LAMONT ANNOUNCED SIGNIFICANT EASING OF COVID-19 PANDEMIC RESTRICTIONS ON BUSINESSES, GATHERINGS AND VENUES
New Jersey, New York and Connecticut to lift most industry capacity restrictions beginning May 19 given vaccination progress and COVID-19 case decline. Business capacity limits to be replaced with space available to maintain six feet of social distancing on May 19 in New Jersey and New York.
April 28, 2021 at 11:30 AM
SBA ANNOUNCES APPLICATION OPENING FOR $28.6 BILLION RESTAURANT REVITALIZATION FUND
SBA Administrator Isabella Casillas Guzman announced the U.S. Small Business Administration will begin registrations on Friday, April 30, 2021, at 9 a.m. EDT and open applications on Monday, May 3, 2021, at noon EDT for the Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted.
Established under the American Rescue Plan, and signed into law by President Joe Biden on March 11, 2021, the Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experienced economic distress and significant operational losses due to the COVID-19 pandemic. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Funds must be used for allowable expenses by March 11, 2023.
April 26, 2021 at 10:00 AM
SHUTTERED VENUE OPERATORS GRANT
The U.S. Small Business Administration will reopen the Shuttered Venue Operators Grant application portal today, April 26, 2021, at 12:00 p.m. EDT for operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief.
April 22, 2021 at 1:30 PM
SBA ANNOUNCES FIRST-OF-ITS-KIND TECHNOLOGY INITIATIVE FOR RESTAURANT REVITALIZATION FUND
The U.S. Small Business Administration announced today the first round of technology partners participating in a new initiative for the Restaurant Revitalization Fund (RRF) – a program that will allow eligible restaurants and other food establishments to access the RRF application or data they need to fill out the application through their trusted point-of-sale (POS) service providers. SBA is proud to announce partnerships with Clover ®, NCR Corporation, Square, and Toast in this groundbreaking effort to provide a customer-centric approach to the delivery of relief funds.
Once the SBA announces when applications will be accepted, qualifying restaurants will be able to work directly with their point-of-sale service providers to help them apply for the RRF. Each point-of-sale partner is helping in different ways – from providing a fully integrated application experience, to building pre-packaged point-of-sale documentation, to holding interactive webinars. In all cases, these partnerships allow for thousands of restaurant owners to accelerate their application submission process.
April 21, 2021 at 10:10 AM
SBA ANNOUNCES OFFICIAL RESTAURANT REVITALIZATION FUND APPLICATION AND GUIDELINES
SBA Administrator Isabella Casillas Guzman announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RRF). The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan, signed into law by President Joe Biden, established the $28.6 billion Restaurant Revitalization Fund at the U.S. Small Business Administration (SBA). The SBA will administer the funds to the hardest-hit small restaurants.
Under this announcement, details on application requirements, eligibility, and a program guide are now available in English at www.sba.gov/restaurants or in Spanish at www.sba.gov/restaurantes.
April 20, 2021 at 10:00 AM
SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM-PHASE 4 PRE-REGISTRATION
New Jersey Economic Development Authority (NJEDA) Small Business Emergency Assistance Grant Program-Phase 4 pre-registration opened Monday, April 19th at 9:00 a.m. and will remain opened until Thursday, April 29th at 5:00 p.m.
Following pre-registration, applications will become available on a rolling basis. 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; and
• All other small businesses – 9:00 a.m. on May 12, 2021
April 19, 2021 at 12:00 PM
GOVERNOR MURPHY SIGNS LEGISLATION PROVIDING $15 MILLION IN AID TO SMALL BUSINESSES AND NON-PROFITS
Governor Phil Murphy signed into law A-A5446, which provides $15 million in federal COVID-19 relief aid for small businesses throughout New Jersey. The bill – sponsored by Senators Linda Greenstein and Joseph Lagana and Assembly Members Joann Downey, Andrew Zwicker, and Sterley Stanley – provides aid in the form of grants to small businesses and non-profits in need. The bill is part of a five-bill, $100 million relief effort aimed at helping New Jersey’s small businesses recover from the year-long pandemic.
“New Jersey’s small businesses were particularly hard hit by the ravages of COVID-19, ” said Governor Murphy. “This legislation, along with three additional bills I signed last week and one I will sign in the near future, will go a long way toward helping hundreds of state businesses keep their doors open as we recover from this year-long ordeal.”
April 15, 2021 at 9:30 AM
NJEDA ANNOUNCES LAUNCH DATES FOR $85 MILLION PHASE 4 OF THE SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM
The New Jersey Economic Development Authority (NJEDA) announced 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 non-profits that have been negatively impacted during the declared state of emergency.
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.
April 14, 2021 at 11:20 AM
GOVERNOR MURPHY SIGNS LEGISLATION PROVIDING $35 MILLION IN AID TO RESTAURANTS
Governor Phil Murphy today signed into law A-5444, which provides $35 million in federal COVID-19 relief aid for restaurants throughout New Jersey. The bill – sponsored by Senators Vin Gopal and Joseph Lagana and Assembly Members Vincent Mazzeo, Pedro Mejia, Christopher Tully, and Louis Greenwald – provides aid to a particularly hard hit sector of New Jersey’s economy. The bill is part of a five-bill, $100 million relief effort aimed at helping New Jersey’s small businesses recover from the year-long pandemic.
“For the past year, our restaurants have fought the good fight, and we know that fight has not been easy,” said Governor Murphy. “This legislation will provide a much-needed lifeline to small business owners, who, through no fault of their own, have been devastated by this pandemic.”
April 13, 2021 at 12:30 PM
CSIT NOW ACCEPTING APPLICATIONS FOR ITS CLEAN TECH R&D VOUCHER PROGRAM
The Commission on Science, Innovation and Technology (CSIT) reminds emerging companies within New Jersey’s clean energy sector that it is currently accepting applications for its Clean Tech Research and Development (R&D) Voucher Program. The application is available at https://application.njeda.com/csit.
The $435,000 program, funded through the New Jersey Board of Public Utilities (NJBPU), is designed to help early-stage New Jersey clean technology companies more easily access resources such as specialized equipment within the Garden State. CSIT developed the program in coordination with the NJBPU and the New Jersey Economic Development Authority (NJEDA).
April 12, 2021 at 10:00 AM
SHUTTERED VENUE OPERATORS GRANTS APPLICATION PORTAL IS TEMPORARILY SUSPENDED.
The Shuttered Venue Operators Grant application portal is temporarily suspended since April 9, 2021. The Small Business Administration announced today that it will remain closed while they work to resolve technical issues. When a reopening date is determined, they will provide updates in advance so that applicants have time to prepare.
Shuttered Venue Operators Grant FAQ’s
April 8, 2021 at 12:15 PM
SHUTTERED VENUE OPERATORS GRANTS OPENED TODAY
The U.S. Small Business Administration will officially opened the Shuttered Venue Operators Grant (SVOG) application portal today, April 8, 2021 at 12 p.m. EDT for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic.
Shuttered Venue Operators Grant FAQ’s
April 7, 2021 at 12:00 PM
ECONOMIC INJURY DISASTER LOANS
The limit for the COVID19 Economic Injury Disaster Loans increased to 24-months of economic injury with a maximum loan amount of $500,000.
April 6, 2021 at 1:20 PM
NEW JERSEY ZERO EMISSION INCENTIVE PROGRAM (NJ ZIP) APPLICATIONS NOW OPEN
The New Jersey Economic Development Authority (NJEDA) today announced that applications are now open for the New Jersey Zero Emission Incentive Program (NJ ZIP). The $15 million pilot program will provide vouchers for up to $100,000 to businesses and institutional organizations in the greater Newark and Camden areas to support the purchase of new, zero emission medium and heavy-duty vehicles (MHDVs) such as pickup trucks, vans, busses, and box trucks.
April 5, 2021 at 10:35 AM
RESTAURANT REVITALIZATION FUND GRANTS
The U.S. Small Business Administration said applicants for the Restaurant Revitalization Grant program do not need to register for a Data Universal Numbering System, or DUNS number—the unique nine-digit identifier for businesses—or on SAM.gov.
The program is part of the American Rescue Plan Act of 2021 that President Biden signed into law March 11. The Restaurant Revitalization Fund is a $28.6 billion appropriation established to provide tax-free federal grants to restaurants, bars, brewpubs, caterers, taverns, and inns that suffered huge losses during the pandemic.
April 1, 2021 at 12:00 PM
PPE ACCESS PROGRAM DEADLINE EXTENDED TO MAY 28
The New Jersey Economic Development Authority (NJEDA) announced that New Jersey businesses with 100 or fewer full-time equivalent employees (FTEs) will be able to receive discounts of nearly 70 percent off purchases of personal protective equipment (PPE) through the NJ Small and Micro Business PPE Access Program until Friday, May 28th, 2021 or until program funds are exhausted.
March 31, 2021 at 10:00 AM
PPP LOAN HAS BEEN EXTENDED TO MAY 31, 2021
President Joe Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program an additional two months to May 31, 2021, and then providing an additional 30-day period for the SBA to process applications that are still pending.
March 26, 2021 at 1:30 PM
JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION ANNOUNCES A ZERO PERCENT LOAN PROGRAM
The Jersey City EDC has opened its US EDA CARES Loan program offering loans up to $20,000 at a 0% interest rate over 5 years. This loan program is for businesses located in the city of Jersey City. The application deadline is Monday, March 29th.
Loan Amounts up to $20,000
Interest Rate: 0%
Term – 5 years
Eligible uses of funds:
- Equipment Purchase
- Leasehold Improvements and renovations
- Working Capital (including payroll expenses, operational expenses*, including rent, inventory and/or supplies) *This includes former bills/invoices and future expenses.
- Non-Profits are not eligible for this loan.
- For-Profit Business must be registered and operate in Jersey City and current with all licensing, fees and tax payments.
- Business had to be established (i.e. incorporated) as of October 1, 2019 to be eligible for this loan.
- Less than 25 Full Time Employees to be eligible.
- Minimum credit score of 620 required
- Collateral required
- Application Fee – $50*
March 25, 2021 at 11:50 AM
SBA TO INCREASE LENDING LIMIT FOR COVID-19 ECONOMIC INJURY DISASTER LOANS
The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
March 22, 2021 at 10:20 AM
SBA EMERGING LEADERS
The U.S. Small Business Administration and its New Jersey District Office are reminding Garden State small business owners and entrepreneurs to apply for the 2021 Emerging Leaders initiative. The application is open to small business executives and will focus this year on those poised for growth in underserved markets.
The intensive Emerging Leaders program provides entrepreneurship education and training that includes nearly 100 hours of virtual classroom time. The program will run from late April through October.
This intensive executive entrepreneurship series will be fully virtual this year and include nearly 100 hours of classroom time. Additionally, the class will provide participants with the opportunity to work with a network of experienced coaches and mentors.
“Space is limited for Garden State small businesses; don’t delay in applying online today,” Titone added, pointing potential registrants to the 2021 SBA Emerging Leaders Initiative
webpage. Interviews for the program begin next week and all interested are urged to apply, asap. Those selected for the Class of 2021 will also be able to attend specialized workshops as well as develop connections with fellow small business owners, innovators, elected official and the financial community. You can register here: SBA Emerging Leaders – Interise
Those small business owners Interested in learning more, especially on points regarding eligibility, how to apply for the 2021 training cycle as well as class schedules and subjects covered, can visit at www.sba.gov/emergingleaders
Do I qualify to participate?
This training is for established business owners and is not for start-ups or people who are thinking about starting a business. The Emerging Leaders Initiative advanced training series is open to small business owners and executives that:
- Have annual revenues of at least $250,000
- Have been in business for at least 3 years
- Have at least one employee, other than self
What are the key program highlights?
- Customized training for “C” (CEO, COO, etc.) level executives with demonstrated business sustainability of at least 3 years in business and annual revenue of at least $250K
- Participant recruitment begins in February through SBA’s local district offices and classes typically begin in April
- A three-year strategic growth action plan with benchmarks and performance targets to help the participant emerge as a self-sustaining business that creates jobs and builds communities
- Includes 100 + hours of professional specialized training and peer-to-peer counseling delivered over the course of seven months
- Specialized areas of training include:
- Growth Strategies Plans
- Financing and Access to Capital
- Government Contracting
- CEO Mentoring
What types of businesses participate in the program?
There are currently no restrictions on the types of businesses that can participate. Some examples of participating businesses include manufacturers, retail/wholesalers, contractors, professional services, and food service.
March 19, 2021 at 1:30 PM
SBA LAUNCHES PORTAL TO BEGIN ACCEPTING SHUTTERED VENUE OPERATORS GRANT APPLICATIONS ON APRIL 8
The U.S. Small Business Administration is launching a splash page for the Shuttered Venue Operators Grant (SVOG) application portal in anticipation of opening applications for the much-anticipated critical economic relief program on Thursday, April 8, 2021.
Prior to the official SVOG application opening, the SBA will host a national informational webinar to highlight the application process for potential eligible entities from 2:30 to 4 p.m. ET on Tuesday, March 30, 2021. Those interested in participating can register here.
The SVOG program was established by the Economic Aid to Hard Hit Small Businesses, Nonprofits and Venues Act, which appropriated $15 billion for it. The American Rescue Plan Act, signed into law by President Joe Biden on March 11, 2021, appropriated an additional $1.25 billion, bringing the program funding to a total of $16.25 billion, with more than $16 billion allocated for grants.
To ensure eligible venues do not miss a window to receive assistance through the Paycheck Protection Program, the American Rescue Plan Act also amended the SVOG program so entities that apply for a PPP loan after Dec. 27, 2020, can also apply for an SVOG, with the eligible entity’s SVOG to be reduced by the PPP loan amount. The PPP loan applications have been updated to reflect this.
As the SBA builds and prepares to open the program, the dedicated SBA website, www.sba.gov/svogrant, which includes frequently asked questions, video tutorials and other SVOG details, is the best source for information for those looking to apply for a grant. To prepare in advance of the SVOG application portal opening on April 8, potential applicants should get registered in the federal government’s System for Award Management (SAM.gov), as this is required for an entity to receive an SVOG, and reference the preliminary application checklist and eligibility requirements.
March 16, 2021 at 10:30 AM
SBA EXTENDS DEFERMENT PERIOD FOR ALL COVID-19 EIDL AND OTHER DISASTER LOANS UNTIL 2022
The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.
- All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note.
- All SBA disaster loans made in calendar year 2021, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 18-months from the date of the note.
March 15, 2021 at 12:35 PM
N.J. TO INCREASE RESTAURANT, CASINO, SPA, GYM, AMUSEMENT INDOOR CAPACITIES TO 50%
New Jersey’s strict coronavirus outbreak capacity limits for restaurants, bars, casinos, gyms, personal care services and amusement venues will increase to 50% later this month, Gov. Phil Murphy announced.
The increase from 35% to 50% for those businesses will take effect on March 19 at 6 a.m. Seating at bars, however, will still be prohibited.
March 12, 2021 at 12:08 PM
AMERICAN RESCUE PLAN ACT ELEVATES SMALL BUSINESS SUPPORT IN RESPONSE TO COVID-19 PANDEMIC
Upon President Biden signing the American Rescue Plan Act of 2021 into law, the U.S. Small Business Administration’s Senior Advisor Michael Roth stated:
“The American Rescue Plan Act enables the SBA to continue to lift up the cornerstones of our communities; the mom-and-pop businesses and nonprofits that provide essential services for our everyday lives, hire from within neighborhoods, and more. Our nation’s more than 30 million small businesses are the economic engine of this country and, in alignment with the Biden-Harris Administration’s focus on equitable treatment, the SBA will work tirelessly to ensure eligible borrowers will get access to this critical economic relief.”
March 11, 2021 at 10:00 AM
NJEDA ANNOUNCES $2 MILLION MICRO LENDER SUPPORT GRANT PROGRAM
The New Jersey Economic Development Authority (NJEDA) Board of Directors today approved the creation of the Micro Lender Support Grant Program. This $2 million pilot program will make grant funding available to organizations that lend to New Jersey small and micro businesses. These funds will help eligible entities by supporting the costs associated with scaling up their operations and offering direct assistance to New Jersey-based businesses. This is critical now as the COVID-19 pandemic has created overwhelming need among micro businesses.
March 3, 2021 at 2:20 PM
CAN I REQUIRE MY EMPLOYEES TO GET THE COVID-19 VACCINE IN ORDER TO ENTER MY WORKPLACE?
Yes, an employer can require that an employee receive the COVID-19 vaccine in order to return to the workplace. However, this does not hold true if the employee cannot get the vaccine because of a disability, because their doctor has advised them not to get the vaccine while pregnant or breastfeeding, or because of a sincerely held religious belief, practice, or observance. Learn more at the COVID-19 Information Hub.
February 25, 2021 at 3:20 PM
NJEDA TO AWARD $14 MILLION IN GRANTS TO 27 ENTITIES STATEWIDE THROUGH SUSTAIN & SERVE NJ
The New Jersey Economic Development Authority (NJEDA) today announced that it anticipates awarding $14 million in grants to 27 organizations through its Sustain & Serve NJ program. The NJEDA launched applications for Sustain & Serve NJ in late 2020 to support restaurants that have been negatively impacted by the COVID-19 pandemic. The NJEDA expects that the funding announced today will result in the purchase of 1.5 million meals from at least 160 New Jersey restaurants in at least 69 cities in 12 counties.
February 19, 2021 at 1:30 PM
NJRA PHASE 2 OF THE SMALL BUSINESS LEASE EMERGENCY ASSISTANCE GRANT PROGRAM WILL OPEN FEBRUARY 22
Governor Phil Murphy and Lt. Governor Sheila Oliver announced $5 million in funding for Phase 2 of the Small Business Lease Emergency Assistance Grant Program. This commercial rent relief program provides grants up to $10,000 for COVID-impacted small businesses and nonprofits located in NJRA’s 66 legislatively designated communities.
The application for these grants opens on Monday, February 22nd, at 9:00 a.m. and is first-come-first served.
February 18, 2021 at 1:45 PM
STAVROS NIARCHOS FOUNDATION (SNF) SMALL BUSINESS GROWTH & RECOVERY FUND
National Community Reinvestment Coalition announced the launch of the Stavros Niarchos Foundation (SNF) Small Business Growth & Recovery Fund grant program. The initiative offers U.S.-based small businesses up to $20,000 each, which does not need to be repaid, along with virtual training and mentorship. The program seeks to help U.S. small businesses find their footing in an acutely challenging economic landscape, focusing on those owned by people of color, women, and veterans as well as those in lower-income communities. Learn more and apply here.
February 17, 2021 at 12:00 PM
WHAT STATE FINANCIAL ASSISTANCE PROGRAMS ARE AVAILABLE FOR MY BUSINESS?
Available programs administered by the New Jersey Economic Development Authority (NJEDA), the New Jersey Redevelopment Authority (NJRA), the New Jersey Department of Consumer Affairs (NJDCA), the New Jersey Housing and Mortgage Finance Agency (NJHMFA), and the New Jersey Department of Environmental Protection (NJDEP). To see which of these programs you are eligible for, use the NJ COVID-19 Business Support Eligibility Wizard.
February 11, 2021 at 1:30 PM
NJEDA TO BRING BACK NEARLY 70% DISCOUNTS ON PPE BEGINNING FEBRUARY 16
The New Jersey Economic Development Authority (NJEDA) announced plans to bring back discounts of nearly 70 percent off the price of personal protective equipment (PPE) purchased through the Authority’s New Jersey Small and Micro Business PPE Access Program. The expanded discounts will be available to New Jersey-based businesses with 100 or fewer employees beginning Tuesday, February 16th at 9:00 a.m. Small businesses and organizations interested in receiving these discounts must apply at https://ppe.covid19.nj.gov. Businesses that were approved prior to December 17, 2020 do not need to reapply.
February 10, 2021 at 1:15 PM
NJEDA DEFERS PRE-REGISTRATION FOR PHASE 2 OF SMALL BUSINESS EMERGENCY ASSISTANCE LOAN PROGRAM
The New Jersey Economic Development Authority (NJEDA) announced that pre-registration for Phase 2 of the Small Business Emergency Assistance Loan Program will be deferred. Pre-registration was scheduled to open on Wednesday, February 10, 2021. The Authority has not announced a new date for the program.
February 9, 2021 at 1:00 PM
PAYMENT PROTECTION PROGRAM
PPP information is available atwww.sba.gov/ppp AND The U.S. Department of the Treasury has posted information, including a list of frequently asked questions, at https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses.
If you have a question regarding the status of your Paycheck Protection Program PPP loan, please contact your lender directly.
The SBA District Office is not a PPP or EIDL processing center. We do not have the ability to offer technical assistance. You must work with your lender to resolve processing issues. The only thing we have is the ability to look up a first draw PPP loan if a Borrower presents verification of identity.
· The SBA Loan Processing Center has a whole team working through errors in processing due to the first PPP draw paperwork not exactly matching the second draw PPP paperwork.
· If your loan is rejected, you must work with your lender to resolve.
THE NJ DISTRICT OFFICE IS UNABLE TO TRACK THE STATUS OF ANY EIDL OR PPP LOANS
Economic Injury Disaster Loan information – 1-800-659-2955 or firstname.lastname@example.org
Email’s and Phone numbers for PPP Loans. Please note that there is a high call and email volume. The SBA Loan Processing Center (not the District Office) is working through these issues as quickly as possible.
PPP – Lender Hotline -1-833-572-0502
PPP related questions to – 7aPaycheckLoanProgramQuestions@sba.gov
PPP Forgiveness questions – PPPForgivenessRequests@sba.gov
PPP Forgiveness Platform questions – email@example.com
PPP Platform Resources – https://forgiveness.sba.gov
Lender Processing Fee questions – PPPLenderFeeResearch@guidehouse.com
7(a) Loan Program/ Eligibility Questions – firstname.lastname@example.org
Incorrect EIN or Record Incorrect – email@example.com or firstname.lastname@example.org
504 Loan Program questions – 504Questions@sba.gov
Interim Final Rule to – PPP-IFR@sba.gov
Colson Services – 1-877-245-6159 or INFO@COLSONSERVICES.com
CAFS/ETRAN questions – 1-833-572-0502 or email@example.com
What to Do if You Must Return Funds to SBA
Lenders who have questions about eligibility or need to return money should contact SBA at firstname.lastname@example.org .
What to Do if You Suspect Fraud
Lenders or Borrowers who suspect attempted fraud should contact the National Center for Disaster Fraud Hotline at 1-866-720-5721 or fill out the Web Complaint Form at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form
Lenders or Borrowers may also report fraud, waste, abuse, or mismanagement of federal funds involving SBA programs, operations, or personnel to the SBA OIG Hotline at (800) 767-0385. You can also submit a complaint form at https://www.sba.gov/about-sba/oversight-advocacy/office-inspector-general/office-inspector-general-hotline#section-header-0
For detailed information on SBA programs in response to COVID-19, please visit www.sba.gov/coronavirus
For information on all COVID-19 federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/coronavirus (en español).
February 3, 2021 at 10:00 AM
SBA TO PROVIDE ONE YEAR 8(a) PROGRAM EXTENSION TO PARTICIPANTS DUE TO COVID-19
The U.S. Small Business Administration published an interim final rule effective January 13, 2021 allowing 8(a) Program participants to elect a one-year program extension in the SBA’s 8(a) Business Development Program due to the challenges of COVID-19.
Eligible 8(a) firms must meet the following qualifications:
- Any firm that participated in the 8(a) Program between March 13, 2020, and September 9, 2020, has the option to extend its program participation for one year from the end of its program term;
- Firms that were terminated, early graduated, or voluntarily withdrew from the 8(a) Program during this period are not eligible for the extension; and
- Firms admitted to the 8(a) Program on or after September 10, 2020, are not eligible for the extension.
February 2, 2021 at 12:30 PM
SHUTTERED VENUE OPERATORS GRANTS
The Shuttered Venue Operators Grant (SVOG) program is Section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) signed into law on Dec. 27, 2020.
These FAQs will be updated as new information becomes available and additional program details are finalized.
February 1, 2021 at 10:00 AM
PAYCHECK PROTECTION PROGRAM (PPP) UPDATE
January 29, 2021 at 10:10 AM
NJSBDC STEPS UP WITH PROGRAMS TO PROVIDE VITAL HELP BUSINESSES SAY URGENTLY NEEDED
New Jersey’s Small Business Development Centers (NJSBDC) announced targeted and comprehensive training and technical assistance to New Jersey businesses and entrepreneurs based on an online survey the network commissioned by Rutgers University’s Heldrich Center.
The survey work began in June and was completed in December 2020. The focus of the survey was on small businesses to include non-profit leaders who are business owners or primary decision-makers. The targeted businesses operated at a minimum of 51% in New Jersey. The study’s goal was to examine how businesses revised operations during the pandemic to conduct business, serve customers, and support employees.
January 28, 2021 at 10:00 AM
NJEDA ANNOUNCES $10 MILLION SECOND PHASE OF ITS SMALL BUSINESS EMERGENCY ASSISTANCE LOAN PROGRAM
The New Jersey Economic Development Authority (NJEDA) announced it will open pre-registration for Phase 2 of its Small Business Emergency Assistance Loan Program at 9:00 a.m. EST on Wednesday, February 10, 2021. The $10 million program expansion will support New Jersey small businesses and nonprofits impacted by the COVID-19 pandemic and will be capitalized by a United States Economic Development Administration (USEDA) Coronavirus Aid, Relief, and Economic Security (CARES) Act appropriation. Any business or entity that intends to apply for a loan must first pre-register during this pre-registration period, which will run from 9:00 a.m. EST on February 10, 2021 to 5:00 p.m. on February 22, 2021.
January 27, 2021 at 11:00 AM
DOORDASH & THE NEW JERSEY RESTAURANT AND HOSPITALITY ASSOCIATION (NJRHA) TEAM UP FOR $500,000 GRANT PROGRAM
The app-based food delivery service, DoorDash, has partnered with the New Jersey Restaurant & Hospitality Association (NJRHA) to provide restaurants across New Jersey with grants of $2,500 or $5,000 based on need and criteria.
Made possible by a donation of $500,000 delivered to the NJRHA as part of DoorDash’s five-year $200 million dollar Main Street Strong Pledge, which includes $10M in grants for restaurants in cities and states around the country, funding received through the program can be used to pay rent, purchase cold-weather equipment, PPE, and more.
January 22, 2021 at 10:00 AM
SECOND DRAW PPP LOANS :
The U.S. Small Business Administration (SBA) provides details on how to calculate revenue reduction and maximum loan amounts including what documentation to provide for the PPP second-draw.
January 15, 2021 at 3:15 PM
SBA’s EMERGING LEADERS INITIATIVE TO HELP GROWING ENTREPRENEURS OPENS FOR 2021 RECRUITMENT
The U.S. Small Business Administration announced the launch of the 2021 Emerging Leaders initiative for executives of small businesses poised for growth in underserved markets. Local area recruitment for the 2021 training cycle is currently underway at designated SBA District Offices. Interested small business owners can learn more regarding eligibility, how to apply, class schedules and locations at www.sba.gov/emergingleaders, or by contacting their local SBA District Office.
January 14, 2021 at 10:00 AM
SBA RE-OPENING PAYCHECK PROTECTION PROGRAM TO SMALL LENDERS ON FRIDAY, JANUARY 15 AND ALL LENDERS ON TUESDAY, JANUARY 19
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 am ET. The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.
Earlier in the week, SBA granted dedicated PPP access to Community Financial Institutions (CFIs) which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries as part of the agency’s ongoing efforts to reach underserved and minority small businesses.
January 13, 2021 at 11:45 AM
SBA LAUNCHES NEW, FREE ONLINE DIGITAL LEARNING PLATFORM
The U.S. Small Business Administration Administrator Jovita Carranza, announced the launch of Ascent, a first-of-its-kind, free digital e-learning platform geared to help women entrepreneurs grow and expand their businesses. Ascent has valuable content such as tips on preparing and recovering from disasters, strategic marketing and business financial strategy development.
Ascent is a joint initiative between the White House, the SBA, the U.S. Department of Labor’s Women’s Bureau and the U.S. Department of the Treasury. Designed to support women entrepreneurs looking to remain resilient in their operations, Ascent is packed with content and resources from each agency and backed by academic research.
January 11, 2021 at 10:55 AM
SBA AND TREASURY ANNOUNCE PPP RE-OPENING
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
January 6 , 2021 at 12:05 PM
SBA LAUNCHES LARGEST EXPANSION OF WOMEN’S BUSINESS CENTERS IN 30 YEARS
The U.S. Small Business Administration announced grant funding and the historic launch of 20 new Women’s Business Centers (WBC) across America to serve rural, urban and underserved communities alike. The opening of the 20 new WBCs is the largest single expansion of WBCs across America in its 30-year tenure, and these centers will be pivotal to the success of women-owned businesses as they continue to recover during this time. The WBCs will be hosted in rural and underserved markets and widen the footprint and partnership with Historically Black Colleges and Universities (HBCUs).
SBA’s WBCs are a national network of 136 centers that offer one-on-one counseling, training, networking, workshops, technical assistance, and mentoring to women entrepreneurs on numerous business development topics, including business startup, financial management, marketing, and procurement.
December 31, 2020 at 9:45 AM
SBA EXTENDS COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION DEADLINE THROUGH Dec. 31, 2021
The U.S. Small Business Administration announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021. The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on Dec. 27, 2020.
To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to small businesses, non-profits and agricultural businesses make it through this challenging time.
December 28, 2020 at 11:45AM
STIMULUS BILL PROVIDES A SHOT IN THE ARM FOR NJ SMALL BUSINESSES
The so-called “PPP Second Draw” is intended to provide loans of up to $2 million for smaller and harder-hit businesses. Companies seeking to secure this funding must employ less than 300 employees and must have already used (or intend to use) the full amount of money granted in their first round of PPP funding. They also must demonstrate at least a 25% reduction in gross receipts during the first, second, or third quarter of 2020 relative to the same quarter of 2019. An eligible organization may only receive one PPP second draw loan.
The legislation includes economic aid to minority-owned businesses and nonprofits to help them recover from the pandemic. The deal includes over $284 billion for forgivable PPP loans and dedicates set-asides for very small companies and lending done through community-based lenders like Community Development Financial Institutions and Minority Depository Institutions.
December 22, 2020 at 10:10AM
NEW RELIEF PACKAGE PROVIDES NEXT ROUND OF PPP FUNDING FOR SMALL BUSINESSES
After months of partisan wrangling, on December 20, 2020, Congressional negotiators finally agreed on a new $900 billion Covid relief package, which includes an additional $284 billion for the Paycheck Protection Program (PPP) for small businesses, created under the original Coronavirus Aid, Relief, and Economic Security Act (or CARES Act) in March.
This new package provides additional funding for those businesses that did not receive PPP money in the first round, especially minority- and women-owned businesses. In addition, it allows businesses a second chance at PPP money if they can show losses of 25% or higher in 2020 over their 2019 revenue.
December 21, 2020 at 2:55PM
NJSBDC ANNOUNCES ITS 2020 ANNUAL SMALL BUSINESS GROWTH CLIENT AWARD WINNERS
America’s SBDC New Jersey, also known as the New Jersey Small Business Development Centers (NJSBDC) network, announces its 13 small business clients from around the state being recognized for their overall business achievements as well as steadfast perseverance during the COVID-19 pandemic.
Traditionally, the client award winners are honored at the annual December Small Business Growth Awards luncheon at the Forsgate Country Club in Monroe Township, but, this year’s luncheon was canceled due to the health and public safety constraints of COVID-19.
December 18, 2020 at 2:10PM
GOVERNOR MURPHY, LAWMAKERS ANNOUNCE AGREEMENT ON COMPREHENSIVE ECONOMIC RECOVERY PLAN AND TAX INCENTIVES REFORM LEGISLATION
Governor Murphy, Senate President Sweeney, Speaker Coughlin, and bill sponsors Senator Ruiz and Assemblywoman Pintor Marin announced an agreement on comprehensive economic recovery plan and tax incentives reform legislation. The economic recovery package will support small businesses, drive sustainable economic growth, and reform our tax incentives system.
December 17, 2020 at 11:40AM
APPLICATIONS NOW OPEN FOR SUSTAIN AND SERVE NJ GRANT PROGRAM
The New Jersey Economic Development Authority (NJEDA) announced that applications are open for Sustain and Serve NJ, a $2 million grant program that will provide funding to organizations to purchase meals from New Jersey-based restaurants that have been negatively impacted by the COVID-19 pandemic. More information and the program application are available at https://business.nj.gov/covid/eligibility-for-sustain-and-serve. Applications are due by January 8, 2021.
December 16, 2020 at 11:35PM
FUNDING AVAILABILITY: SUSTAIN AND SERVE NJ
The Sustain and Serve NJ Program is available to provide urgently needed revenue to New Jersey-based restaurants to offset direct losses due to COVID-19, including restaurants that had temporarily closed, were preparing to close, and/or reduced their staff through layoffs or furloughs.
Under the program, up to $2 million will be utilized to make grants of at least $100,000 to certain entities to support prospective expenses for making bulk meal purchases from New Jersey-based restaurants negatively impacted by COVID-19.
As part of the Serve and Sustain NJ Program requirements, the grantee is prohibited from reselling any meals purchased with grant funding.
December 15, 2020 at 2:35PM
EVENT: DOING BUSINESS WITH JERSEY CITY (WEDNESDAY DECEMBER 16, 2020 at 10:00AM)
Doing Business with Jersey City provides business owners with the information and tools to be successful in municipal contracting. This online seminar covers topics including but not limited to:
- Benefits of public contracting
- How to secure your first contract
- How to register as a prospective supplier
- Supplier diversity certification
December 14, 2020 at 11:05AM
2021 HISPANIC ENTREPRENEURSHIP TRAINING PROGRAM (HETP)
Applications are now open for the Statewide Hispanic Chamber of Commerce of NJ 2021 Entrepreneurship Training Program (HETP). The Hispanic Entrepreneurship Training Program offers culturally and linguistically appropriate business education and mentorship services for FREE to small business owners.
Click here to apply for the HETP.
December 11, 2020 at 12:25PM
UCEDC’s VIRTUAL INCUBATOR PROGRAM
Diverse business owners have historically encountered many obstacles to success. To battle these injustices, UCEDC’s Board of Trustees developed the Virtual Incubator Program (VIP). The VIP will allow 10 businesses with ownership from an underserved population the opportunity to sustain themselves through these trying economic times by offering education and access to capital.
December 10, 2020 at 2:30PM
NJEDA EXTENDS PPE ACCESS PROGRAM DEADLINE TO DECEMBER 17, 2020
In response to significant demand for support through the program, the New Jersey Economic Development Authority (NJEDA) today announced that the deadline for companies to receive nearly 70 percent discounts on purchases of personal protective equipment (PPE) through the NJ Small and Micro Business PPE Access Program has been extended one week to Thursday, December 17th, 2020. To date, more than 7,500 businesses and organizations have been approved for more than $6.4 million in discounts through the program.
December 9, 2020 at 12:45PM
NJ OFFERS FREE SUPPORT FOR RETAILERS SHIFTING TO ONLINE SALES
The New Jersey Business Action Center (NJBAC), in partnership with New Jersey’s Small Business Development Centers (NJSBDC), will offer free tools and resources to help retail businesses capitalize on the approaching holiday season amid COVID-19. The services are designed to help small businesses that typically rely on in-person transactions shift to e-commerce.
Resources include personalized consulting, website setup, social media promotion, Google My Business support and SEO strategies. Businesses can also receive counsel on managing inventories, product descriptions and pricing strategies to maximize online sales and profits.
December 8, 2020 at 1:00PM
NJ PANDEMIC RELIEF FUND INVESTS $4.5 MILLION TO HELP SMALL BUSINESSES
The New Jersey Pandemic Relief Fund (NJPRF) is investing $4.5 million to help women- and minority-owned businesses devastated by the economic fallout from the COVID-19 pandemic.
The funds are being directed to four organizations that have a long track record of serving women- and minority-owned businesses: Grameen America, Greater Newark Enterprises Corporation, New Jersey Community Capital, and Rising Tide Capital.
December 4, 2020 at 2:06 PM
SBA PROPOSES SMALL BUSINESS SIZE STANDARD REVISIONS IN FIVE INDUSTRIAL SECTORS; CHANGE AIMED AT INCREASING ELIGIBILITY FOR CONTRACTING AND LOAN PROGRAMS.
The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting programs.
Comments can be submitted on this proposed rule on or before Jan. 26, 2021 at www.regulations.gov, using the following RIN number: RIN 3245-AG88. You may also comment by mail to Khem R. Sharma, Chief, Size Standards Division, 409 3rd Street SW, Mail Code 6530, Washington, D.C., 20416.
December 3, 2020 at 1:35 PM
EMERGENCY ASSISTANCE ELIGIBILITY WIZARD
The NJEDA is offering the screening tool (“Eligibility Wizard”) that lists emergency assistance programs for organizations to be aware of what support programs are available to help them stabilize operations and get back on a pathway to growth.
December 2, 2020 at 10:00 AM
SMALL BUSINESS EMERGENCY ASSISTANCE GRANT (Phase 3) ACTIVITY REPORT
December 1, 2020 at 3:15 PM
DEPARTMENT OF COMMUNITY AFFAIRS ISSUES OUTDOOR DINING GUIDANCE TO HELP RESTAURANTS AND SIMILAR ESTABLISHMENTS ADAPT TO THE ONGOING COVID-19 PANDEMIC
Due to the approaching winter weather conditions, establishments that want to maintain the use of tents past November 30, 2020, are required to apply for a UCC permit from their local construction office. Additionally, a permit for any electrical equipment, electrical wiring, or mechanical equipment that would otherwise require a permit must also be filed.
November 30, 2020 at 2:15 PM
NEW COVID-19 LOCKDOWN STILL ‘ON THE TABLE’ IN NJ, GOV. PHIL MURPHY SAYS
A new statewide lockdown in New Jersey remains “on the table” amid a resurgence of the coronavirus — with Gov. Phil Murphy warning that the Garden State is “in the fight for our lives.”
The state has now taken some preliminary precautions with the bug resurging, including shutting down restaurants at 10 p.m., limiting indoor gatherings to 10 people, and begging people to have small Thanksgiving gatherings. “But there’s a lot of fatigue out there,” Murphy said. “There’s a lot of private transmissions. The weather is cold so folks are doing what they were doing three months ago outside, they’re doing it inside. And that cocktail, when you add to that the holiday season, we’re in for a rough ride here.”
November 25, 2020 at 11:35 PM
INDOOR DINING CAPACITY LIMITS IN N.J. NOT LIKELY TO CHANGE SOON AS COVID-19 CASES SPIKE, MURPHY SAYS
Indoor dining at restaurants in New Jersey is likely to stay at 25% capacity for a while as the state continues to deal with the second wave of the coronavirus pandemic, Gov. Phil Murphy said Monday.
The state Division of Alcoholic Beverage Control this weekend investigated whether 76 bars and restaurants were complying with coronavirus restrictions. Of those, 10 were found to violate orders, said Col. Patrick Callahan, acting superintendent of the State Police.
November 24, 2020 at 1:20 PM
NJEDA EXPANDS DISCOUNTS, EXTENDS DEADLINE FOR PPE ACCESS PROGRAM
The New Jersey Economic Development Authority (NJEDA) announced that it will increase the discounts available on purchases of personal protective equipment made through the NJ Small and Micro Business PPE Access Program to nearly 70 percent, effective Tuesday, November 24, 2020. The Authority will also double the per-business cap on discount vouchers. These discounts will be available to New Jersey businesses and nonprofits with 100 or fewer employees until December 10, 2020. More information is available at https://covid19.nj.gov/ppeaccess.
November 23, 2020 at 1:25 PM
NJDOL BENEFITS ELIGIBILITY TOOL
The COVID-19 outbreak is causing extraordinary disruption in the lives of New Jersey workers. The New Jersey Department of Labor and Workforce Development (NJDOL) wants to make it easier for you to understand what benefits programs may be available to you to help stabilize your household during this difficult time.
This is a beta version of this tool. We will update it regularly as new federal, state, and local benefits become available. We will check your eligibility for the programs below based on the information you provide.
November 19, 2020 at 3:45 PM
MURPHY WARNS OF ECONOMIC PAIN, $1B HOLE IN NJ BUDGET FROM COVID 2nd WAVE
Gov. Phil Murphy suggested Thursday that the state could expect to lose $1 billion from the second wave of COVID-19 outbreaks, as it crashes into New Jersey.
Murphy suggested similar amounts during the spring, and at an unrelated remotely-held event on Thursday, said “it’s probably at least that.”
“It’s going to get ugly the next two or three months at a minimum,” he said, previously suggesting that restrictions could bar indoor dining and elective surgeries.
November 18, 2020 at 1:50 PM
WHAT WORKPLACE HEALTH AND SAFETY STANDARDS MUST MY BUSINESS FOLLOW TO BE OPEN?
Every business, non-profit, governmental, and educational entity that requires or permits its workforce to be physically present at a worksite must abide by the standardized operational requirements outlined in Executive Order 192 and listed below in Health & Safety Standards for All Employers.
Businesses must also abide by all additional requirements outlined for their industry listed under Industry-Specific Guidelines.
November 17, 2020 at 3:15 PM
GOVERNOR MURPHY SIGNS EXECUTIVE ORDER LOWERING LIMITS ON INDOOR AND OUTDOOR GATHERINGS
Governor Phil Murphy signed Executive Order No. 196, which lowers indoor and outdoor gathering limits. Effective Tuesday, November 17 at 6:00 a.m., the indoor gathering limit will decrease from 25 to 10 people. The outdoor gathering limit will decrease from 500 people to 150 people, effective Monday, November 23 at 6:00 a.m.
“As we have been saying for weeks, this will not be a normal a holiday season, and it’s incumbent on all of us to avoid the type of gatherings that have proven to be particularly dangerous places for COVID-19 to spread,” said Governor Murphy. “With the alarming numbers we are seeing right now, we have to take these steps today to preserve and protect public health and to slow the spread of this virus.”
November 16, 2020 at 11:30 AM
NJEDA BOARD APPROVES SUSTAIN AND SERVE NJ PROGRAM
The New Jersey Economic Development Authority (NJEDA) Board of Directors approved the creation of the Sustain and Serve NJ Program, a $2 million grant program that will provide funding to organizations to purchase meals from restaurants that have been negatively impacted by the COVID-19 pandemic and distribute the meals at no cost to New Jersey residents. This program builds on prior NJEDA initiatives supporting restaurants impacted by COVID-19, including $35 million in targeted grant funding for restaurants the Authority made available through Phase 3 of the Small Business Emergency Assistance Grant Program.
November 13, 2020 at 3:00 PM
GOVERNOR MURPHY ANNOUNCES ADDITIONAL $60 MILLION TO FULFILL PIPELINE OF SMALL BUSINESS GRANT APPLICATIONS
Governor Phil Murphy announced a commitment of at least $60 million in additional Coronavirus, Aid, Relief, and Economic Security (CARES) Act funding to fulfillment of grants under Phase 3 of the New Jersey Economic Development Authority’s (NJEDA’s) Small Business Emergency Assistance Grant Program. This funding is in addition to $70 million in federal funds already allocated for the current phase of the program and will enable the NJEDA to fulfill grants for the entire pipeline of eligible businesses that applied for Phase 3 funding prior to the application deadline. Without this supplemental funding, approximately 13,000 of the nearly 22,000 businesses that applied for Phase 3 grants would have been declined based on the program being oversubscribed.
November 11, 2020 at 12:35 PM
WHERE CAN I FIND MORE INFORMATION ABOUT THE NJ SMALL AND MICRO BUSINESS PPE ACCESS PROGRAM ?
The New Jersey Personal Protective Equipment (PPE) Access Program is a public-private partnership that helps businesses and non-profits protect the health and safety of their employees and customers. Through the program, all NJ-based businesses and non-profits are eligible for 10% discounts on PPE purchases made through approved online retailers, including Boxed, Staples, and Office Depot.
November 10, 2020 at 12:00 PM
GOV. MURPHY ORDERS NEW RESTRICTIONS FOR INDOOR BARS, RESTAURANTS
November 9, 2020 at 10:50 AM
STAPLES NOW OFFERING DISCOUNTED PPE SUPPLIES TO SMALL BUSINESSES THROUGH NJEDA PPE ACCESS PROGRAM
The New Jersey Economic Development Authority (NJEDA) today announced that StaplesAdvantage.com has been approved to be a “Designated Vendor” for the Authority’s NJ Small and Micro Business PPE Access Program. The program, which launched in late October, uses an innovative public-private partnership model to provide automatic discounts on PPE purchased through NJEDA-approved “Designated Vendors.” Small businesses can purchase discounted PPE at covid19.nj.gov/ppe.
November 5, 2020 at 4:00 PM
MURPHY SIGNS BILL TO OVERHAUL CORPORATE BUSINESS TAX
The changes are focused on what’s known as “combined reporting,” a provision that came out of state budget talks in June 2018, as a means to prevent businesses from skirting New Jersey taxes by parking their assets in other states.
All the new changes are technical, and proponents say none will result in money lost or gained from either the state’s coffers or business owners’ wallets.
November 4, 2020 at 12:00 PM
CELEBRATING SMALL BUSINESS SATURDAY (SAFELY) IN 2020
According to Deloitte, holiday retail sales are expected to rise between 1% and 1.5%.
The holiday season is right around the corner. Although this year’s festivities will look and feel quite different, there’s one thing you can count on to remain the same— shopping!
And there’s no other way to shop for gifts and support local businesses than #ShopSmall all season long.
November 3, 2020 at 1:05 PM
NATIONAL VETERANS SMALL BUSINESS WEEK NOV. 2 – NOV.6.
“National Veterans Small Business Week is the perfect time to reflect on the accomplishments of our nation’s 2.5 million veteran-owned small businesses,” said SBA Administrator Jovita Carranza. “Now more than ever, it is our duty as an agency to empower these businesses as they adapt and pivot during this critical time. The SBA, in collaboration with our resource partner network, is proud to dedicate this week to honoring the veterans, service members and military spouses who continue to serve our great country as small business owners.”
November 2, 2020 at 11:25 AM
NJEDA LAUNCHES PPE ACCESS PROGRAM TO SUPPORT SMALL BUSINESS PPE PURCHASES
New Jersey small businesses can now purchase discounted Personal Protective Equipment (PPE) through the NJ Small and Micro Business PPE Access Program. The New Jersey Economic Development Authority (NJEDA) program uses an innovative public-private partnership model to provide automatic discounts on PPE purchased through NJEDA-approved “Designated Vendors.” Small businesses can purchase discounted PPE and apply for grants at https://covid19.nj.gov/ppeaccess.
October 30, 2020 at 12:40 PM
WHAT WORK PLACE HEALTH AND SAFETY STANDARDS MUST ALL EMPLOYERS FOLLOW ?
On October 28, 2020, Governor Murphy signed Executive Order 192 to standardize operational requirements and ensure that all workers are adequately protected. The new requirements will go into effect at 6 a.m. on November 5, 2020. Businesses will be expected to follow these standardized guidelines as well as industry specific guidelines.
October 29, 2020 at 2:55 PM
SBA SEEKS NOMINATIONS FOR ITS ADVISORY COMMITTEE ON VETERANS BUSINESS AFFAIRS
October 27, 2020 at 2:35 PM
THE JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION (JCEDC) AND THE CITY OF JERSEY CITY ANNOUNCE MATCHING GRANTS FOR NJEDA FUNDING
The JCEDC in partnership with the City of Jersey City is providing matching grants for those businesses who receive funding through the NJEDA Small Business Emergency Assistance Grant program. If you received money in either Phase 1 or Phase 2 please reach out to the JCEDC to learn more about the Match Grant opportunity.
October 26, 2020 at 10:45 AM
NOTICE OF FUNDING AVAILABILITY: NEW JERSEY SMALL AND MICRO BUSINESS PPE ACCESS PROGRAM PHASE 2
The NJ Small and Micro Business PPE Access Program was developed in response to consistent concerns emerging from the Governor’s Restart and Recovery Commission, the nine sector-based committees of the Governor’s Restart and Recovery Advisory Council and input from numerous small and micro businesses. Both the Commission and the Advisory Council highlighted the need for readily available, fairly priced PPE to accelerate economic recovery. As small and micro businesses and organizations in historically underserved communities are particularly vulnerable to being crowded out of essential goods when tight market conditions occur, a key consideration of the program has been the need to ensure equitable distribution and pricing of PPE.
October 23, 2020 at 11:40 AM
GOVERNOR MURPHY SIGNS EXECUTIVE ORDER EXTENDING 2019 CORPORATE BUSINESS TAX CALENDAR YEAR RETURN FILING DEADLINE
Governor Phil Murphy signed Executive Order No. 189, which extends the filing deadline for 2019 Corporate Business Tax (CBT) calendar year returns being filed under extension to November 16, 2020, due to the ongoing COVID-19 pandemic. The previous filing deadline for calendar year returns being filed under extension was October 15, 2020.
October 22, 2020 at 2:55 PM
WHAT IS THE STATUS OF THE NJEDA SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM ? (PHASE 3 PRE-REGISTRATION NOW OPEN)
Issues resulting from a high volume of applicants for the Grant Program have been resolved. Confirmation emails may still come with a slight delay, but are on their way. Be assured that the pre-registration process is not first come, first served, and will be available until Tuesday, October 27, 2020, at 5:00 p.m. Thank you for your patience and understanding.
October 21, 2020 at 11:55 AM
GOVERNOR MURPHY ANNOUNCES LAUNCH OF SPANISH LANGUAGE BUSINESS.NJ.GOV
Governor Phil Murphy announced the launch of the Spanish language version of Business.NJ.gov — the State’s new digital front door for businesses looking to start, operate, and grow in the Garden State.
The announcement comes as the State concludes Hispanic Heritage Month — a celebration of Hispanic and Latinx heritage, culture, and contributions, that spanned from September 15 through October 15.
October 20, 2020 at 1:40 PM
GOVERNOR MURPHY, LIEUTENANT GOVERNOR OLIVER, LEGISLATIVE LEADERSHIP, AND CONGRESSIONAL REPRESENTATIVES ANNOUNCE ADDITIONAL $100 MILLION FOR COVID-19 ECONOMIC RECOVERY
Governor Phil Murphy, Lieutenant Governor Oliver, Senate President Steve Sweeney, Assembly Speaker Craig Coughlin, U.S. Senator Bob Menendez, and Congressman Tom Malinowski announced $100 million in additional Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to support New Jersey residents and businesses affected by the COVID-19 pandemic.
October 19, 2020 at 11:50 AM
NOTICE OF FUNDING AVAILABILITY: SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM – PHASE 3
Notice of Funding Availability:
Applications will open for restaurants at 9:00 am on Thursday, October 29, 2020.
Applications will open for micro businesses at 9:00 am on Friday, October 30, 2020.
Applications will open for all other eligible businesses at 9:00 am on Monday, November 2, 2020.
October 16, 2020 at 3:20 PM
NJEDA ANNOUNCES $70M PHASE 3 COVID-19 GRANT PROGRAM
The New Jersey Economic Development Authority (NJEDA) announced Phase 3 of the Small Business Emergency Assistance Grant Program. Phase 3, which will be funded with $70 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding, significantly expands eligibility and increases the funding businesses can receive. To ensure funding goes to businesses hit hardest by the pandemic, Phase 3 sets aside funding for restaurants, micro-businesses, and businesses based in Opportunity Zone-eligible census tracts.
October 15, 2020 at 11:40 AM
MURPHY: WE ARE UP AGAINST SECOND WAVE, AS COVID CASES SURGE
“We’re up against it,” Murphy told reporters after an unrelated event Tuesday afternoon in Hillsborough when asked if New Jersey has entered the virus’ long-feared second wave. “It continues to be the hotspot we’ve been talking about, Ocean County again today has the No. 1 amount of cases.
“Ocean, Monmouth, Middlesex, Bergen, Essex, Union, Passaic and Hudson have been the top eight counties now over the past [eight] to 10 days,” he said.
October 14, 2020 at 11:05 AM
WHEN WILL N.J. EASE INDOOR DINING LIMITS ?
Gov. Phil Murphy on Tuesday said he still doesn’t have a date for when he may increase coronavirus capacity limits on indoor dining at New Jersey’s restaurants. But he encouraged people to take his new decision to allow indoor winter sports as a positive sign.
October 13, 2020 at 2:35 PM
N.J. TO PROVIDE $100M MORE TO HELP BUSINESSES, RESTAURANTS, FAMILIES HURT BY COVID – 19 PANDEMIC
As New Jersey continues to cope with the economic fallout of COVID-19, the state is giving out $100 million more in federal funds to help small businesses and families hurt by the pandemic, Gov. Phil Murphy announced today.
October 12, 2020 at 11:55 AM
SBA AND TREASURY ANNOUNCE SIMPLER PPP FORGIVENESS FOR LOAN OF $50,000 OR LESS
The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
October 9, 2020 at 12:35 PM
THE #NJThrives INITIATIVE
NJ Thrives (#NJThrives) is an initiative to help NJ businesses pivot, survive and thrive despite the effects of COVID-19 by sharing videos of successful small and mid-sized businesses to help motivate and inspire us all!
October 8, 2020 at 3:10 PM
NEW JERSEY ANNOUNCES $1M IN FUNDING TO EXPAND SMALL BUSINESS EXPORTING
The New Jersey Department of State’s Business Action Center has announced today that it has been awarded $1 million in federal funds from the U.S. Small Business Administration (SBA) through the State Trade Expansion Program (STEP) for a program that supports small-business owners looking to export goods.
The state’s successful New Jersey STEP (NJSTEP) program has been awarded funding for eight consecutive years. This year’s funding is the largest in the program’s history, ranking the amount as the second highest awarded to any state.
October 7, 2020 at 12:35 PM
WHAT RULES OR SAFETY GUIDELINES ARE IN PLACE FOR REOPENED BUSINESSES ?
Most businesses can reopen, while following appropriate mitigation requirements. See below for more information and to know more about businesses that remain close and businesses that may open.
October 6, 2020 at 5:00 PM
HOUSE DEMOCRATS RELEASE UPDATED VERSION OF THE HEROES ACT
House Democrats released an updated version of The Heroes Act, addressing needs that have developed since the House passed an earlier iteration and reflecting negotiations between Democrats and Republicans.
September 29, 2020 at 1:35 PM
RETURN TO WORK: HEALTH & SAFETY ISSUES WEBINAR – SEPT 30th, 2020
This webinar with Mitchel Rosen, Ph.D., Rutgers School of Public Health, Center for Public Health Workforce Development (CPHWD), will focus on how small businesses can protect their workplaces, employees and customers against potential health and safety threats, including the prevention of the transmission of COVID-19 and other communicable diseases. The main part of the training will address key issues that small businesses must address before opening their business.
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 email@example.com.
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 firstname.lastname@example.org 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, email@example.com, as physical access to our Center may be restricted.
Thank you for your patience and understanding.