New Jersey small businesses and other entities crushed by the coronavirus pandemic are now eligible for another round of grant funding under a package of bills totaling $235 million in aid that Gov. Phil Murphy signed into law Tuesday.
“Throughout the past year, we have focused our relief efforts on supporting New Jersey’s small businesses so they can emerge from the pandemic stronger than before,” said Governor Murphy. “This additional funding will help us add to the more than 60,000 small businesses that have received aid to date.”
In the Assembly the bills were sponsored by Assembly members Vince Mazzeo, Roy Freiman, Lisa Swain, Andrew Zwicker, John Armato, Chris Tully, Pedro Mejia, Angela McKnight, Adam Taliaferro, Nicholas Chiaravalloti, Linda Carter, Joann Downey, Yvonne Lopez, Stanley Sterley, and Eric Houghtaling. In the Senate, the bills were sponsored by Senators Dawn Marie Addiego, Vin Gopal, and Joseph Lagana.
The funding will be administered by the NJEDA, which has reopened its Phase IV grant pre-application for those businesses that missed the original deadline. To date, the EDA has distributed more than $420 million in aid to some 63,000 businesses across the state. The breakdown of the $235 million in proposed today’s bill package is as follows:
- Microbusinesses: $120 million
- Bars and Restaurants: $20 million
- Child Care Facilities: $10 million
- Other Small Businesses and non-profits: $50 million
- New Businesses and Start-Ups: $25 million
- Sustain and Serve: $10 million