New Jersey Economic Development Authority (NJEDA) Announces $10 Million Second Phase of its Small Business Emergency Assistance Loan Program.

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 10th, 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 10th, 2021 to 5:00 p.m. on February 22nd, 2021.

Applicants MUST pre-register in order to apply for the Small Business Emergency Assistance Loan Program. Pre-registration for the Small Business Emergency Assistance Loan Program will open at 9:00 a.m. on February 10th on the New Jersey COVID Business Information Portal and will remain open until 5:00 p.m. on February 22nd. Only entities that pre-register will then be able to access the program application beginning 9:00 a.m. February 24th. The order in which final applications are received may affect funding availability, as referenced above.

To learn more click here.

To create an account click here.

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New Jersey Restaurant and Hospitality Association

NJRHA and DoorDash Partner to Distribute $500,000 to New Jersey restaurants

New Jersey Restaurant & Hospitality Association announced a new grant program, funded by DoorDash and administered by the New Jersey Restaurant and Hospitality Association. DoorDash is generously donating $500,000 to the NJRHA to award grants to restaurants to help them offset costs amidst cold weather and ongoing COVID-related challenges.

Restaurants will be able to apply for $2,500 or $5,000 in funding which can be used to pay rent, purchase cold-weather equipment, PPE, and more. This grant is 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.  
 
The grant application will be available on the NJRHA grant, www.njrha.org by February 1st, 2021. The grants will be awarded to independent restaurants who have five or fewer locations and can show a loss of at least 30% from 2019. The criteria is outlined on the application on the NJRHA website. Applicants do not have to be a DoorDash partner or NJRHA member.

To learn more click here.

To access the application click here.

PLEASE NOTE: The City is sending this communication strictly as a public service to all of our local businesses. Due to the complexity of the subject matter, and not being familiar with the circumstances of each individual business, City employees are unable to provide advice nor recommendations regarding any COVID-19 financial assistance including SBA sponsored funding. Any questions should be directed to the SBA, your SBA-sponsored financial institution, or your own financial or legal professionals. Thank you for your understanding and cooperation in this regard.