NJ EDA Conference Call March 31, 2019

Powerpoint Presentation from NJ EDA

Click on the link above & it will download the powerpoint file. Please check your downloads.

The goal of these programs is stabilization – maintain salary, maintain leases, maintain mortgages.

The small business grant program ($1,000 per employee up to $5,000)* application will open Friday April 3 at 9 am and will be fully subscribed quickly. Make sure you know all the information on the application form (first pages of powerpoint) & that you have an electronic signature already set up.

*There is a calculator for you to determine how much you can expect to get – part-time employees count towards your award.

The next program in the package is a SBA loan with a 0% interest for the first 5 years and a low interest for the following 5 years.

There are a set of other loans with slightly different terms and qualifications. The eligibility wizard on page 23 will let you know which ones you are qualified for.

You can apply for all grants and loans you are eligible for. They have done their best to ensure their terms will not block you from Federal COVID-19 programs.

Seasonal businesses may run into problems with the grant application because the employment is based on the 2019 Q4 numbers. Their focus is on rescuing people already hit. They will be looking at people that are having problems gearing up in the future.

Applications should take a week to process.