New Jersey Grants Program to Help Small Businesses During Economic Crisis Attracts 16,500 Applicants | New Jersey
(The Center Square) – Thousands of New Jersey small business owners have applied for grants from the New Jersey Economic Development Authority, organization chief Tim Sullivan said on Friday.
Grants of up to $ 5,000 were available for businesses with fewer than 10 people to help deal with economic hardship due to the coronavirus pandemic. About 16,500 nominations were received on Friday, the same day the nominations were accepted, Sullivan said.
“I don’t think even in our wildest imaginations we thought it would go as fast as it did,” Sullivan said, speaking at Gov. Phil Murphy’s press conference on Friday on the pandemic.
The rewards will be handed out early next week, with checks available for mailing later in the week, Sullivan said.
The grant program is part of a package that includes zero-interest loans to businesses with sales of less than $ 5 million. The application will be released on Monday and businesses can apply on April 13, Sullivan said.
The program also includes a $ 10 million capital reserve fund for community banks to protect them against defaults.
Businesses will also have access to a $ 549 billion paycheck protection program issued by the federal government through the Small Business Administration, which opened its application process on Friday.
The coronavirus pandemic is not just a health crisis but an economic crisis, Murphy said.
About 33,000 New Jersey residents filed for unemployment on Thursday, Murphy said. Anyone looking to work can search the COVID-19 job portal which has more than 44,000 active job postings from more than 540 employers, Murphy said.
113 more deaths were announced at Murphy’s press conference on Friday, bringing the state total to 646. 4,372 more cases were reported, bringing the state total to 29,985, the second highest number cases in the United States.
Murphy called the coronavirus pandemic one of the greatest tragedies to ever hit the state and the nation.
“And we need to have a constant and visible memorial of the huge personal toll COVID-19 has had on our communities,” Murphy said. “And since families right now can’t even organize funerals for their lost loved ones, it’s a way, a little way, but I think there’s a big way for us to make sure their loss is not forgotten. . “
Murphy issued an executive order requiring all flags to be hoisted at half mast in honor of victims of the novel coronavirus.
The governor said he had made no decision on the June 2 primary elections, but he does not expect them to happen on that date.
State constitutional officials sent a letter to Murphy asking him about the upcoming June 2 primary election, media reported. Murphy said in his press conference on Friday that he had not made a decision on the elections but would be “stunned” if they were held on that date.