On Wednesday, April 14, 2021, the New Jersey Economic Development Authority (NJEDA) announced the launch of Phase 4 of the Small Business Emergency Assistance Grant Program, adding $85 million in funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Phase 4 of the program will provide short-term immediate payroll and working capital support to small and medium-sized businesses and non-profits that have been impacted during the COVID-19 pandemic.
Interested business owners will need to pre-register at programs.njeda.com to access the application. Pre-registration will begin on Monday, April 19, 2021, at 9:00 a.m. and close on April 29, 2021, at 5:00 p.m. The application will be available via a phased approach following the end of the pre-registration period. Applicants must complete the full application to be considered for grant funding. Pre-registered applicants will need to return to programs.njeda.com to complete an application.
The NJEDA is providing the online pre-registration and application in English and Spanish, in addition to offering applicants access to interpretation services.
Grant awards will be calculated based on the number of full-time equivalent employees (FTEs) businesses employ. Micro-businesses with five or fewer FTEs and sole proprietorships will receive up to $10,000; businesses with six to 25 FTEs will receive up to $15,000, and businesses with 26 to 50 FTEs will receive up to $20,000. A grant size estimator is available at forms.business.nj.gov/grant-4/size.
For more information about the Small Business Emergency Assistance Grant Program, NJEDA assistance, and other state support, visit https://business.nj.gov/covid or call 844-965-1125.