Late last week, Governor Phil Murphy announced an August 10 start date for the Small Business Rental Assistance Program. The program will allow qualifying businesses impacted by the COVID-19 pandemic, to apply for grants from the state for up to $10,000 to assist with the costs of their lease on their property.
Among the Hudson County municipalities which are eligible for the Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP) are Jersey City, Bayonne and Hoboken.
In making the announcement of the August 10 start of the program, Governor Murphy stated, “We are committed to helping small businesses across our state survive this unprecedented crisis. A stronger and fairer New Jersey starts from the bottom up. The Small Business Lease – Emergency Assistance Grant Program will infuse much-needed funding into local economies by assisting both small businesses and the landlords that they rent from.”
The program will be administered by the New Jersey Redevelopment Authority. It is anticipated that this is the first part of a broader financial relief package which is going to be paid for using federal CARES Act money. $6 million in CARES Act funding is being targeted for the program.
“The Small Business Lease Emergency Grant Assistance Program is directly geared toward keeping the mom-and-pop shops on main streets and business centers afloat in this time of need, specifically in our most vulnerable communities in New Jersey,” said New Jersey Lt. Governor Sheila Oliver, who serves as Commissioner of the Department of Community Affairs and Board Chair of the New Jersey Redevelopment Authority.
The grant program is specifically targeted to businesses occupying 5,000 square feet of leased space or less. Applications will be available online on a first come, first serve basis, beginning August 10.
Among those individuals who have expressed their support for the program are Hoboken Business Alliance President Gregory Dell ‘Aquila and Assemblyman Nicholas Chiaravalloti (D – District 31), who represents Bayonne and a portion of Jersey City.
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