NJEDA announces $70 million Phase 3 COVID-19 grant program
TRENTON – The New Jersey Economic Development Authority (NJEDA) recently announced Phase 3 of its 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 for the grant program and increases the amount of 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.
Interested business owners will need to pre-register to receive an application. Pre-registration will begin today, Oct. 19, and will close on Tuesday, Oct. 27. Pre-register here. 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.
Phase 3 further expands eligibility for the grant program and increases the amount of funding individual businesses can receive. Any business or nonprofit located in New Jersey, including home-based businesses, with 50 or fewer full-time equivalent employees (FTEs) is eligible to receive grant funding during Phase 3. Businesses that received funding in previous phases of the program are eligible to receive Phase 3 funding.
Phase 3 also increases the amount of funding available to businesses. Grant awards will be calculated based on the number of FTEs businesses employ. Micro-businesses with five or fewer FTEs and sole proprietorships will receive $5,000; businesses with six to 25 FTEs will receive $10,000; and businesses with 26 to 50 FTEs will receive $15,000. Phase 3 provides even larger grants for businesses that are classified as “Food Services and Drinking Places” (NAICS code 722). Businesses in this classification with five or fewer employees will receive $10,000; businesses with six to 25 FTEs will receive $15,000; and businesses with 26 to 50 FTEs will receive $20,000. To maximize the funding businesses receive, grant awards will be based on the peak FTE count from a business’s past six quarters of WR-30 filings. Businesses must use funds from the Grant Program for reimbursement of lost revenue as a result of business interruption caused by COVID-19. Businesses may not use grant funds for capital expenses.
The NJEDA is targeting Phase 3 grants to restaurants, micro-businesses and businesses in census tracts that were eligible to be designated as Opportunity Zones. $35 million of funding will be dedicated to support businesses classified as “Food Services and Drinking Places” under NAICS code 722 and $15 million will be directed to support “micro-businesses” that have five or fewer FTEs. The remaining $20 million will be available to support any eligible business.
Recognizing the significant need for relief, the NJEDA anticipates Phase 3 of the grant program will be oversubscribed. To streamline the application process, the Authority is requiring all applicants to pre-register online. Applications will become available on a rolling basis following the pre-registration period. Pre-registered applicants will need to return to complete an application based on the following schedule:
• Restaurants – 9 a.m. on Thursday, Oct. 29
• Micro-businesses – 9 a.m. on Friday, Oct. 30
• All other businesses, excluding restaurants and micro-businesses – 9 a.m. on Monday, Nov. 2
Applications for each category will be open for a period of one week and will be accepted on a first-come, first-served basis.
More information about this grant program is available at https://cv.business.nj.gov.
CURRENT STATUS
The New Jersey Department of Health on Oct. 19 announced 1,192 new positive cases of COVID-19, bringing the cumulative total of positive cases in the state to 221,205; and 4 additional confirmed COVID-19 deaths, bringing the cumulative total to 14,425 confirmed deaths and 1,789 probable deaths. Mercer County's 19 new positive cases bring its cumulative total to 8,975, with 602 confirmed COVID-19 deaths and 35 probable deaths. To view Mercer County data by municipality, please visit the Mercer County COVID-19 Dashboard at https://arcg.is/1y1eHO. Please note that municipal data lags behind the state data and will update as information becomes available. Visit the New Jersey Department of Health's COVID-19 Dashboard for more statewide information.
The Centers for Disease Control and Prevention on Oct. 18 announced 53,157 new positive cases of COVID-19, bringing the cumulative total of positive cases in the United States to 8,081,489; and 593 additional deaths, bringing the cumulative total to 218,511 with 55 locations (50 states, District of Columbia, Puerto Rico, Guam, North Mariana Islands and U.S. Virgin Islands) reporting.
|
HAVE GENERAL QUESTIONS ABOUT COVID-19?
The NJ Poison Control Center and 211 have partnered with the State to provide information to the public on COVID-19:
Call: (general COVID-19 questions) 2-1-1 (24/7)
Call: (medical COVID-19 questions) 1-800-962-1253 (24/7)
Text: NJCOVID to 898-211 to receive alerts
Visit https://covid19.nj.gov/ or nj.gov/health for additional information
PREVENTION AND SYMPTOMS
COVID-19 is thought to spread mainly through close contact from person to person, including between people who are physically near each other (within about 6 feet). People who are infected but do not show symptoms can spread the virus to others.
To ensure the lowest chance of obtaining the virus, and spreading the virus to others:
• Wear a face mask in public settings, especially when you can’t stay at least 6 feet away from others. Masks help stop the spread of COVID-19 to others.
• Practice social distancing.
• Wash your hands often with soap and water for at least 20 seconds, especially after you have been in a public place or after blowing your nose, coughing or sneezing. If soap and water are not readily available, use a hand sanitizer that contains at least 60 percent alcohol.
• Stay home if you are sick, except to get medical care.
• Cover your mouth and nose with a tissue when you cough or sneeze, or use the inside of your elbow.
• Avoid touching your nose, eyes and mouth with unwashed hands.
• Clean and disinfect frequently touched surfaces daily.
|
Symptoms can appear between 2-14 days after exposure, though some people may not have any symptoms while still being contagious. In addition to fever, cough and shortness of breath, symptoms can include chills, muscle pain, headache, sore throat, new loss of taste or smell, congestion or runny nose, nausea or vomiting, and diarrhea.
If you believe you've been infected and you are not in immediate danger, you should contact your doctor by phone. If you are experiencing a medical emergency, call 911, and notify the dispatch personnel that you may have COVID-19. COVID-19 Symptom Checker
COPING WITH STRESS
If you’re feeling stressed, anxious or depressed due to COVID-19, please call New Jersey's MentalHealthCares Helpline at 866-202-HELP (4357) or visit njmentalhealthcares.org for emotional support, guidance, and mental health referrals as needed. You also may call the SAMHSA Disaster Distress Helpline at 1-800-985-5990 or text TalkWithUs to 66746 (TTY 1-800-846-8517). Listing of additional resources.
CONSUMER COMPLAINTS
If you receive a call from a scammer or suspect price gouging, please report it to the Division of Consumer Affairs at (973) 504-6240 or https://www.njconsumeraffairs.gov/.
|
