The New Jersey Economic Development Authority (EDA) approved a package of grant and loan programs for small and mid-sized businesses and non-profits hit hard by the coronavirus crisis. There are seven initiatives will support between 3,000 and 5,000 enterprises. The seven initiatives are:

• Small Business Emergency Assistance Grant Program
• Small Business Emergency Assistance Loan Program
• Community Development Finance Institution (CDFI) Emergency Loan Loss Reserve Fund
• CDFI Emergency Assistance Grant Program
• NJ Entrepreneur Support Program
• Small Business Emergency Assistance Guarantee Program
• Emergency Technical Assistance Program

It is suggested that all business owners who are interested in these programs to QUICKLY take inventory of all necessary evidence of cash flow and income over the past year, including receipts and invoices, and to connect with your accountants to put your most effective foot forward during the application process and get in early.

For additional information on the grant and loan programs please click on the following two links:

https://www.njbia.org/edagrants/?utm_source=Real%20Magnet&utm_medium=email&utm_campaign=152612344

https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak

HBK will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. To discuss COVID-19’s effect on your business, contact your HBK advisor.