MADISON, NJ -  The Madison, NJ Small Business Recovery Grant Program has been created by the Madison Main Street Foundation and Downtown Development Commission with the support of the Madison Area Chamber of Commerce to mitigate the sever economic damage caused by the global outbreak of COVID-19 to the local business community.

"A vibrant downtown benefits the community, reduces taxes and gives all Madison residents a sense of pride and identity", stated organizers. "They are our friends, our neighbors, they make our town a wonderful place to shop, dine and live and they need our help".

According to organizers, the goal is to raise a minimum of $200,000.

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The Madison Main Street Foundation, a registered 501(c)(3) will match the first $50,00 on a 1:1 basis.

"We need your support to reach our goal", they said. "Please consider making a donation today. All contributions are tax deductible".

Eligibility

  • 1) Business must be located in the Downtown District defined in Borough Code, Chapter 15: Downtown Development Commission, Section 15-1.1 Definitions: Includes both the traditional downtown area which principally corresponds to the CBD Zoning Districts and also the additional commercial areas of the Borough of Madison which correspond to the CC and Gateway Zoning Districts, as shown on the Zoning Map of the Borough of Madison
  • 2) Business must have twenty or fewer Full-time Equivalent Employees
  • 3) Priority will be given to businesses defined as Non-Essential Retail Businesses by New Jersey Executive Order No. 107. Other businesses defined as Essential Retail Businesses by New Jersey Executive Order No. 107, may also apply if they can demonstrate a significant loss.
  • 4) Grant amount to be determined
  • 5) Businesses can use the grants for a wide-range of recovery activities including but not limited to: Help with rent costs, Cover operational costs, Help defray marketing costs, Cover employee wages for unperformed work

Ineligible- The following businesses are not eligible to receive this grant funding given funding restrictions and grant purpose:

  • National franchises
  • Non-profit organizations

Timeline:
April 1, 2020: Applications will be available for download
April 1 – 30, 2020: Community outreach and assisting applicants in filling out forms

An Ad Hoc Grant Steering Committee to include members from the three organizations listed above will be created to review all applications and make award recommendations to the Madison Main Street Foundation. Awards made to business owners will be based on demonstrated need and disbursed based on final level of funds raised.

 

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