Hoboken awards $1.82 million in grant funding to small businesses
Mayor Ravi S. Bhalla today announced that the City of Hoboken will provide financial relief to 179 local small businesses negatively impacted by the COVID-19 pandemic through $1.82 million in grant funding.
Qualifying businesses who applied to the City’s Small Business Grant Program will receive an average of $9,800 through funding allocated to the City from the American Rescue Plan.
Of the 179 businesses that will be awarded grant funding, 115 will also receive a $1,500 vaccine bonus as 75% of their employees are fully vaccinated. In the coming weeks, the City will also publish a list of these businesses on the City’s website.
“We are continuing to support our small business community during the ongoing pandemic,” said Mayor Ravi S. Bhalla. “This grant funding will provide additional relief that will help ensure that our mom-and-pop shops remain open, adding vibrancy to our mile-square. I thank the businesses and their employees who also heeded the call to get vaccinated. Together, we can reduce the spread of COVID-19 and find a path out of this pandemic. I also thank Senator Menendez, Senator Booker, Congressman Sires, and the Biden Administration for working to provide this federal funding.”
Businesses will use the funding for COVID-19 related expenses incurred between Sept. 1, 2020, and July 28, 2021, including employee salaries, mortgage payments, business loan payments, equipment leases or finance payments, and utilities including electric, water, gas and phone.
The City will make award notifications by the end of this week and begin distributing funds next week via wire transfers and checks.
The City of Hoboken has supported the small business community throughout the pandemic. Last year, Hoboken expanded outdoor dining, implemented the open and summer streets programs, and provided free COVID-19 testing for small business employees.
Through the CARES Act, the City of Hoboken partnered with Hudson County to also disperse $1.82 million in grant funding to small businesses in 2020.
Hoboken also provided financial assistance to small businesses through the Hoboken Relief Fund, which raised over $400,000 for impacted Hoboken businesses and individuals.