NEW JERSEY – The New Jersey Financial Improvement Authority (NJEDA) will start accepting purposes for Small Enterprise Emergency Help Loans associated to the COVID-19 disaster on Monday, April 13.
Functions are actually out there to permit enterprise house owners to arrange upfront for Monday’s submissions.
The Small Enterprise Emergency Help mortgage program is designed to supply direct loans of as much as $100,000 to New Jersey based mostly small companies and nonprofit organizations which have been in existence for not less than one yr and have lower than $5 million in annual income.
These companies should have been negatively impacted by the COVID-19 pandemic, together with however not restricted to:
- Reductions of enterprise hours;
- Full closure of enterprise;
- A minimum of 20 p.c decline in revenues;
- Workers unable to work;
- Required to shut by authorities motion;
- Disruption of provide chain.
You might entry a replica of the mortgage software (scroll to web page 4) that can assist you put together your submission. Accomplished purposes will likely be thought of on a first-come, first-served foundation, in accordance with the NJEDA. To decide whether or not you would possibly qualify for this program, use the NJ COVID-19 Enterprise Assist Eligibility Wizard.
For companies impacted, a toll-free help quantity, 1-844-965-1125 has been arrange for help.
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