M, W, Th: 9-4:30
Tuesday: 9-7:30
Friday: 9-12:30

609.397.0110
Directory

How Do I...

SDLPortal

BUSINESS UPDATE: Assistance for Businesses Impacted by Hurricane Ida

Support for New Jersey businesses and nonprofits is on the way. A $10 million grant program is being developed by the NJEDA that will provide short-term, immediate rent and mortgage reimbursement.

The proposed program will provide grants of $1,000 to $5,000 dollars. As proposed, grants will be provided in the form of reimbursement of a business’s August rent or mortgage payment.

The program is for New Jersey businesses and nonprofits with up to 50 employees. The program will apply to organizations that suffered physical damage as a result of weather caused by Tropical Storm Ida and any additional flooding immediately thereafter on September 1st and 2nd, 2021. Landlords and home-based businesses are not eligible.

To be eligible, a business or nonprofit must:

  • Provide certification of an unmet need due to damage and/or business interruption.
  • Provide documentation of physical damage to the applicant’s physical commercial location.
  • Present a valid Employer Identification Number (EIN).
  • Submit recent wage reporting form (WR30), if applicable.
  • Be registered to do business in the State of New Jersey.
  • Be in good standing with the Department of Taxation.
  • Comply with any additional requirements that are announced when the program is finalized.  

The parameters of the program announced today are preliminary and are subject to change.  The proposed program will be presented to The New Jersey Economic Development Authority (NJEDA) Board for consideration of approval at a special meeting on Wednesday, September 8th at 10:00 a.m. If approved, the NJEDA expects to announce full details and the application timeline for the grant program following that meeting.

In addition, I recommend that you consult with your local Small Business Development Center on this topic. They can provide one-on-one counseling tailored to your business and situation. Their services are no cost because they are taxpayer supported by this office, the NJ Business Action Center, and the US Small Business Administration. The services may be free but they are also priceless to entrepreneurs. You can identify your local SBDC on the SBDC website.  

And please be sure to take photos and document any damage resulting from last night’s storm to ensure you have documentation of impact needed for insurance and any federal or state relief programs that may become available moving forward.

Best,

Councilman Steve Stegman,