FREEHOLD, NJ — Belmar and Lake Como small businesses and nonprofit organizations are eligible to apply for the Monmouth County CARES Economic Assistance Grant program.
To qualify for grants of up to $10,000 under the program, businesses must meet the following criteria.
- Be physically located in the county since January 1, 2019 or earlier.
- Provide documentation of being negatively impacted by the COVID-19 pandemic.
- Have $5 million or less in annual gross revenues.
- Employ 50 or fewer full-time workers, including the owner, as of March 1, 2020.
Nonprofit organizations, including chambers of commerce, must be registered with the Internal Revenue Service.
Banking, educational, governmental and medical service providers are not eligible for the grant program at this time. In addition, funding cannot be used for reimbursements already made under other state and federal assistance programs.
When Monmouth County learned in June that it was receiving $10 million through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, it decided to administrate the program itself, rather than utilize the New Jersey Economic Development Authority.
“We decided our mission was to make sure that our municipalities and businesses, nonprofits, and arts, veterans and special needs communities will be impacted positively throughout the whole process,” said Freeholder Director Thomas A. Arnone in announcing the program’s launch at a July 29 press conference. “We put together a comprehensive plan working alongside Monmouth County chambers (of commerce) and mayors to deliver this message. We wanted to streamline the process and get the dollars into our businesses’ accounts.”
Applications, which will be reviewed on a first-come, first serve basis, can be submitted through the Monmouth CARES portal at monmouthcountycares.com.
Upon receipt of the application and required information, it will be reviewed for completeness and eligibility. Applicants will be notified if their application is incomplete and will be given time to resubmit missing or incomplete information in order to hold their place in the submission process.
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