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$6 million allocated to program assisting NJ small businesses impacted by COVID-19

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Posted at 1:03 PM, Jul 23, 2020
and last updated 2020-07-23 13:13:29-04

NEW JERSEY — A new relief program will assist small businesses in New Jersey that have been impacted by the COVID-19 pandemic, Gov. Phil Murphy announced Thursday.

The governor unveiled the Main Street Commercial Corridors Relief, which has $6 million in CARES Act funding allocated to the New Jersey Redevelopment Authority (NJRA) Small Business Lease - Emergency Assistance Grant Program (SBL-EAGP).

The program allows businesses in 64 municipalities to apply for grants of up to $10,000 to assist in lease costs.

“We are committed to helping small businesses across our state survive this unprecedented crisis,” said Governor Murphy.

“A stronger and fairer New Jersey starts from the bottom up. The Small Business Lease - Emergency Assistance Grant Program will infuse much needed funding into local economies by assisting both small businesses and the landlords that they rent from.”

The grant assistance program was geared to keep the mom and pop shops afloat, especially “in this time of need, specifically in our most vulnerable communities in New Jersey,” Lt. Gov. Sheila Oliver said.

Through the SBL-EAGP, grants will be provided to tenants leasing commercial space in mixed-use buildings, tenants leasing space in commercial building and tenants leasing space to operate a storefront business

The program will be targeted to businesses with 5,000 square feet of leased space or less, and is requiring standard debarment and legal qualifications from applying businesses.

Applications will open Aug. 10 online.

Funds will be distributed on a first come first served basis.