Governor Phil Murphy today announced $100 million in additional Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to support New Jersey residents and businesses affected by the COVID-19 pandemic.
State of New Jersey Press Release:
The bulk of the money, $70 million, will be distributed to restaurants, microbusinesses, and other small businesses through Phase 3 of the New Jersey Economic Development Authority (NJEDA) Small Business Emergency Assistance Grant Program; an additional $10 million will be used to help small businesses purchase Personal Protective Equipment (PPE) through the NJEDA Small and Micro Business PPE Access Program; $15 million will go to support renters through the Department of Community Affairs (DCA) COVID-19 Emergency Rental Assistance Program; and $5 million will support food banks and other hunger relief efforts.
“Small businesses and the people they employ are the backbone of New Jersey’s economy, yet they have borne a disproportionate share of the burden of the COVID-19 pandemic,”said Governor Murphy.“If we are to emerge from this pandemic stronger and more resilient than we were before, it is incumbent on us to support them in any way possible. This additional funding helps us accomplish that goal.”
The Small Business Emergency Assistance Grant Program provides grants to small businesses impacted by the pandemic. To date, over 19,000 small businesses have benefitted from the program.