Jun 16 NJ SMALL BUSINESS EMERGENCY ASSISTANCE LOAN PROGRAM (PHASE 2) UPDATE
In an effort to provide additional economic relief to qualifying businesses and IRC Sec. 501(c) non-profit entities, the New Jersey Economic Development Authority (NJEDA) will soon open the Phase 2 pre-registration portal for its Small Business Emergency Assistance Loan Program (“The Program”).
The pre-registration and application process for Phase 2 of the Small Business Emergency Assistance Program was originally slotted for February 10, 2021 but is now expected to be available in July 2021.
Applicants are required to pre-register in order to be considered for inclusion. This $10 million loan program will provide financing up to $100,000 for qualifying borrowers to spend on payroll, rent and/or mortgage payments, inventory, utilities, personal protective equipment and certain types of furniture, fixtures and equipment.
For information on eligibility requirements, available funding and funding uses, eligible expenses and the process to pre-register and apply, click here.