TRENTON, NJ – The deadline looms for pre-registration for Phase III of the NJ Economic Development Authority (EDA)’s Small Business Emergency Assistance Grants. Business owners must pre-register by Tuesday, Oct. 27 at 5:00 p.m. Applications are accepted on a first-come, first-served basis
The NJ EDA will award a total of $70 million in federal CARES Act funding to small businesses. Any business or nonprofit located in the state, including home-based businesses, with 50 or fewer full-time equivalent employees is eligible to receive grant funding during Phase 3 of the grant program. Businesses that received funding in previous phases of the program are eligible to receive Phase 3 funding. Grants will be calculated based on the number of full-time workers the businesses employ.
- Sole proprietorships and micro-businesses with five or fewer full-time employees and will receive up to $5,000
- Businesses with six to 25 full-time employees will receive up to $10,000
- Businesses with 26 to 50 full-time employees will receive up to $15,000.
For eligible businesses classified as “Food Services and Drinking Places” (NAICS code 722) only:
- Businesses in this classification with five or fewer employees will receive up to $10,000
- Businesses with six to 25 Full-time employees will receive up to $15,000
- Businesses with 26 to 50 Full-time employees will receive up to $20,000
Business owners should use the NJEDA Phase 3 Grant Eligibility Estimator and NJEDA Phase 3 Grant Size Estimator to understand their eligibility. For additional information on the Phase 3 application and eligibility, visit Phase 3 FAQS.
To streamline the application process, the EDA requires applicants to pre-register online. Applications will become available on a rolling basis following the pre-registration period. Pre-registered applicants must complete an application based on the following schedule:
- Restaurants: 9:00 a.m. on Thursday, Oct. 29, 2020.
- Micro businesses: 9:00 a.m. on Friday, Oct. 30, 2020.
- All other businesses: 9:00 a.m. on Monday, Nov. 2, 2020.
Applications for each category will be open for a period of one week and will be accepted on a first-come, first-served basis.
Anyone needing help w/ pre-registration for the Small Biz Emergency Assistance Grants, should watch the following video: