NORTH BRUNSWICK – Governor Phil Murphy announced today (July 28) that an additional $15 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding has been made available to New Jersey small businesses struggling with the pandemic.
This funding is in addition to the $100 million the New Jersey Economic Development Authority (NJEDA) is currently administering through programs to COVID-19-impacted businesses.
“COVID-19 is first and foremost a health crisis, but also a severe economic crisis, and nowhere is that more evident than in the State’s small business community,”said Governor Murphy. “Throughout this crisis, small business owners have worked incredibly hard to adapt and protect public health while supporting their employees and families. We are committed to ensuring New Jersey’s vibrant small business community weathers this storm and emerges stronger. The additional funding announced today will support businesses as they continue to adapt to the ‘new normal’ we are living with now and lay the groundwork for a speedy and complete recovery.”
To date, more than 10,600 businesses have been approved for grants totaling more than $44 million. The program is currently oversubscribed and not accepting applications, but the NJEDA intends to use the CARES Act funding announced today to fulfill a significant portion of the applications already in the pipeline, particularly where direct federal funding was not provided to counties.
Click here to read the full official press statement.