Please see the below information which will be updated regularly as more information becomes available. For additional information on COVID-19/Novel Coronavirus and its impact on businesses, please visit the State of New Jersey business portal which is located on the Resources sidebar.
Here is a quick look at the available small business assistance programs in the state.
Grant and loan programs are available through the NJEDA:
The Payroll Protection Program (PPP) as well as several other grant and loan programs are offered by SBA lenders. The SBA, in conjunction with area lenders, offers SBA 7(a) loans, 504 loans, and micro-loans to small businesses and start-ups.
Small businesses can get assistance with SBA loans from the economic development nonprofit organizations listed below:
Community Business Assistance Corporation
Urban Community Economic Development Corporation
New Jersey Community Capital: Garden State Relief Fund
Funds for small businesses and non-profits with 3–50 full time employees; loans processed in 10–14 days; term up to 36 months; interest rate 3%; loan amounts of $10-$75,000
Local Municipal COVID Small Business Assistance Programs
Local municipalities have individual micro-loans for business assistance; please contact the municipal Economic Development Offices:
The Authority is implementing a small business assistance program of small businesses located outside of the three cities. For information on this program, funded by federal Community Development Block Grant funds, please contact The Authority at 856-825-3700 or the Economic Development Director at firstname.lastname@example.org
Philadelphia Foundation/United Way
Grants to non-profits serving at-risk populations in the Philadelphia and Southern NJ region; grant funding to continue to provide services and expand local capacity to meet increased need; Application available on line at above website; fund operational
Community Fund of South Jersey
One time grants of $3,000 to address community needs, including food banks and food distribution, homelessness, social services; 3 categories of grant assistance
M25 Initiative: Food Insecurity Grants
M25, A Cumberland County nonprofit organization, is offering grants up to a maximum of $5,000 for service agencies and nonprofit organizations that are impacted by a demand for a higher level of service due to the emergency situation; online application at https://www.m25initiative.org/food-insecurity.html