New Jersey Economic Development Authority Announces Phase 2 of the Business Emergency Assistance Grant Program
Want to learn more about Phase 2 of the NJEDA Small Business Emergency Assistance Grant Program, which launches Tuesday, June 9? Check out our resource center that supports and helps prepare small businesses in Prospect Park impacted by COVID-19 to apply.

New Jersey Economic Development Authority Announces Phase 2 of the Business Emergency Assistance Grant Program

Start date: June 9, 2020 at 9:00AM (BE READY BY 8:30AM WITH ALL YOUR INFORMATION)

APPLY FOR PHASE 2 OF THE NJEDA SMALL BUSINESS EMERGENCY ASSISTANCE GRANT HERE!


 

NJEDA Announces $50 Million Expansion of Grant Program for Businesses Impacted by COVID-19

Funding now available for home-based businesses and sole proprietorships; some funds reserved for businesses in low-income communities.

The New Jersey Economic Development Authority (NJEDA)  announced a $50 million expansion of its Small Business Emergency Assistance Grant Program, which provides funding to small businesses facing financial challenges as a result of the COVID-19 pandemic. The expanded program will provide grants up to $10,000 to qualified businesses and relaxes eligibility criteria to include a broader variety of businesses as well as home-based businesses and sole proprietorships. To ensure equity, $15 million will be reserved for businesses in Opportunity Zone-eligible census tracts.

Funding for the expansion of the Grant Program will come from the federal Coronavirus Relief Fund established under the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.

 

Applications for 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. NJEDA staff will process the applications on a first-come, first-served basis. There will be no application fee.

To assist businesses with application preparations, translated copies of the application are available now in the following languages: English , Spanish , Arabic , Mandarin , Cantonese , Gujarati , Hindi , Italian , Korean , Polish , Portuguese , and Tagalog . Because the live application will only be available in English and Spanish, please contact NJEDA at languagehelp@njeda.com should you require translation assistance.


Phase 2 Program Overview and Eligibility

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 .

[This census tract map is provided as a courtesy and for informational purposes only. The link directs you to a site not hosted by the State. Although the data used by that website may have been provided by NJEDA as a courtesy to the public, the State and NJEDA are not responsible for and make no representation with regard to any information or content on that website. The State and NJEDA may use the same software and information to review grant applications but reserves the right to use any other appropriate software and/or information to determine the location of an application in relation to Opportunity Zone eligible census tracts.]

Additionally, all NAICS code restrictions from Phase 1 of the grant will be removed for Phase 2.

Your organization may use Phase 2 grant funding to…

Reimburse revenue lost as a result of a business interruption caused by COVID-19. Funding cannot be used for capital expenses, including construction.

Phase 2 Grant Award Amounts

Businesses will receive $1,000 per full-time employee, (based on WR-30 filing). Sole proprietorships or other companies with no full-time employees will receive the minimum grant amount ($1,000).

  • Minimum grant amount (per application): $1,000
  • Maximum grant amount (per application): $10,000 (for entities with more than 10 FTEs)

Your organization is eligible for a Phase 2 Emergency Relief Grant if…

  • You have 25 or fewer full-time employees, as reported on most recent WR-30 filing with the New Jersey Department of Labor
  • You have a physical commercial location in the State of New Jersey
  • Home-based businesses must be based at a home located in New Jersey
  • You are a non-profit organized as 501(c)(3), 501(c)(4), and 501(c)(7) organizations
  • Your CEO certifies that your business: 1) Was in operation on February 15, 2020; 2) Will make a best effort not to furlough or lay off any individuals from the time of application through six months after the end of the declared state of emergency; 3) Has been negatively impacted by the COVID-19 declared state of emergency on March 9, 2020; 4) Has a material financial need that cannot be overcome without the grant of emergency relief funds
  • Your Business: 1) Is registered to do business in the State of New Jersey; 2) Does not have any outstanding tax liabilities; 3) Is in good standing with the New Jersey Department of Labor

You can learn about other NJEDA programs and see what you may qualify for using the NJ COVID-19 Business Support Eligibility Wizard . Explore how NJEDA determines grant size with the Grant Size Estimator .


Information from Phase 1 of Grant Funding

Businesses can access the full Notice of Funding Availability .

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.

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

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

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


Your organization is eligible for the Small Business Emergency Assistance Loan Grant if you…

  • Have between 1 and 10 FTEs. This means companies non-employee companies (holding), companies that have between 1-10 FTE utilizing 1099 employees, and larger firms are not eligible for this round of grant funding.
  • Have a physical commercial location in the State of New Jersey. Home-based businesses are not eligible for this round of grant funding. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
  • Are classified in one of the following industries: Retail (NAICS codes starting with 44… or 45…); Accommodation & food services (NAICS codes starting with 72…); Arts, entertainment & recreation (NAICS codes starting with 71…); Other services (only those with NAICS codes starting with 811… and 812). You can look up your NAICS code at naics.com/search
  • Are registered to do business in the State of New Jersey.
  • Must certify that the company is in good tax standing with the State
  • Are in good standing with the Department of Labor and Workforce Development, with all decisions of good standing at the discretion of the Commissioner of the Department of Labor and Workforce Development.
  • The CEO of the business must certify that the business:
  1. Will make a best effort not to furlough or lay off any individuals from the time of application through six months after the end of the declared state of emergency. SMEs that have already furloughed or laid off workers must make a best-effort pledge to re-hire those workers as soon as possible. Any material breach of its best efforts certification may result in the NJEDA seeking repayment of the grant.
     
  2. Has been negatively impacted by the COVID-19 declared state of emergency in Executive Order 103 (e.g., has been temporarily shut down, has been required to reduce hours, has had at least a 20% drop in revenue, has been materially impacted by employees who cannot work due to the outbreak, or has a supply chain that has materially been disrupted and therefore slowed firm-level production).
     
  3. Has a material financial need that cannot be overcome without the grant of emergency relief funds at this time (e.g., does not have significant cash reserves that can support the SME during this period of economic disruption
  • Non-profit organizations are eligible for this program. Eligible non-profits must have status of 501(c)(3), 501(c)(4), 501(c)(7)

Types of businesses not eligible :

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

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


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

  • Contact information for someone who is authorized to speak on behalf of your company. For example: an owner or an executive such as a CEO or Executive Director
  • Basic information about your company.
  1. Registered legal name and “Doing Business As” name. To confirm your organization’s registered legal name, visit Business Name Search .
  2. Federal Employer Identification Number (EIN)
  3. Year your company was established
  4. Full-time employees as of December 31, 2019 and Part-Time Employees as of December 31, 2019
  1. You are not a home-based business. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
  2. You are not a prohibited business.
  3. You have been impacted by the COVID-19 outbreak.
  4. You have a material financial need that cannot be overcome without the grant funds.
  5. You will make a best effort not to lay off any additional employees and re-hire any whom you have already laid off.
  6. Information you are providing is correct.
  7. You will allow the NJEDA to check your entries against other State sources of data.

Passaic County and NJEDA Partner to Administer $10 Million in 
CARES Act-Funded Grants for Passaic County Businesses

Companies should apply as soon as possible!

Apply at  https://forms.business.nj.gov/grant-2/

Passaic County New Jersey is partnering with the New Jersey Economic Development Authority (NJEDA) to award $10 million in grants to Passaic County businesses through Phase 2 of the Authority’s Small Business Emergency Assistance Grant Program. Passaic County is providing the funds and they will be distributed only to businesses located in Passaic County. Business owners can apply for funding at  https://forms.business.nj.gov/grant-2/    

Visit the following link to answer questions:

https://faq.business.nj.gov/en/articles/3835237-how-do-i-apply-for-the-njeda-small-business-emergency-assistance-grant-program-phase-2-application-now-open

The $10 million grant program allocated for Passaic County businesses and organizations is part of Phase 2 of the NJEDA’s Small Business Emergency Assistance Grant Program. The county grant program will allow businesses and non-profits with fewer than 25 employees to apply for the grant, on a first come, first serve basis. The application is live and available at  https://forms.business.nj.gov/grant-2/  Applications are due June 30th, 2020.

If Passaic County businesses have already applied to the NJEDA grant during Phase 2 –  they DO NOT need to reapply!


HELPFUL LINKS AND RESOURCES


WE ARE HERE FOR YOU...

The Borough of Prospect Park will open its doors from 8:30AM – 1:30PM to offer live assistance when the application pool opens on Tuesday, June 9th at 9:00AM. Our municipal team will re-purpose to serve as a support staff and be available to answer any questions over the phone at 973-790-7902 ext. 529 or in person. 

Should you have questions,  please feel free to e-mail info@prospectpark.net or call (973) 790-7902 ext. 532.


 

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

 


 
Public Notice for July 6, 2020 Mayor and Council Work Session Cancellation (pdf)
Spray Park to Return for 2020 Summer Season on Saturday, July 11, 2020
Camp Hofstra to Return for 2020 Summer Season - Begins Monday, July 13, 2020
Information About the 2020 Borough-Wide Garage Sale for Sat., July 18, 2020
Resident Notices for Independence Day on Saturday, July 4, 2020
COVID-19 (CORONAVIRUS) UPDATES AND INFORMATION
Temporary Outdoor Dining and Displays for Prospect Park Businesses
New Jersey Economic Development Authority Announces Phase 2 of the Business Emergency Assistance Grant Program
PROSPECT PARK MUNICIPAL CLOSURES EFFECTIVE WEDNESDAY MARCH 25TH
Prospect Park Recreation Receives Grant from Massachusetts Charity (Good Sports) for Youth Sports Equipment
Prospect Park Fire Department Receives Lifesaving Equipment Thanks to Firehouse Subs Public Safety Foundation
Prospect Park Awarded Its FIRST Green Acres Grant - $750K For Turf Soccer Field
Older Announcements