NEW JERSEY - The New Jersey Economic Development Authority (NJEDA) will begin accepting applications for Small Business Emergency Assistance Loans related to the COVID-19 crisis on Monday, April 13.

Applications are now available to allow business owners to prepare in advance for Monday’s submissions.

The Small Business Emergency Assistance Loan program is designed to provide direct loans of up to $100,000 to New Jersey based small businesses and nonprofit organizations that have been in existence for at least one year and have less than $5 million in annual revenue.

Sign Up for Madison Newsletter
Our newsletter delivers the local news that you can trust.

These businesses must have been negatively impacted by the COVID-19 pandemic, including but not limited to:

  • Reductions of business hours;
  • Complete closure of business;
  • At least 20 percent decline in revenues;
  • Employees unable to work;
  • Required to close by government action;
  • Disruption of supply chain.

You may access a copy of the loan application  (scroll to page 4) to help you prepare your submission. Completed applications will be considered on a first-come, first-served basis, according to the NJEDA. To determine whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard.

For businesses impacted, a toll-free support number, 1-844-965-1125 has been set up for support.

 

Get your local news delivered to your inbox for FREE each day. Sign up to get all the news as it happens at www.TAPinto.net/enews and follow us on Facebook at https://www.facebook.com/MadisonTAP/ and on Twitter at @MadisonTAP to get all the news as it happens

Celebrating Something Special? Showcase Your Wedding, Christening, Bar/Bat Mitzvah, Graduation, Reunion and MORE on TAPinto Milestones