COVID-19 Business Information

The Economic Injury Forgivable Business Loan Program offered by the Atlantic County Improvement Authority will provide short-term, forgivable working capital loans of up to $25,000 with 3% interest. Owners with a 20% or greater share of the business must provide personal guarantees. An application fee of $200 is required.

Principal and interest will be deferred for two years and then forgiven if the business is still operating. The loan will enter repayment status immediately if the business closes within that time, and the principal plus accumulated interest will be amortized with monthly payments due over a five-year period at 3%.

Business must submit a statement of coronavirus business disruption and/or revenue loss and describe how the loan will be used to retain existing employees.

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The Microbusiness Emergency Assistance Program will provide grants up to $5,000 local businesses impacted by COVID-19, on a first-come, first-served basis. More information and an application form are available at the City of Camden website.

Eligibility criteria for businesses include:

• Having been negatively impacted by COVID-19 with a documentable business income loss
• Having five or fewer employees
• Being a certified/mercantile licensed business or a licensed barbershop or salon located in the City of Camden
• Employing Camden residents
• Priority will be given to businesses in Opportunity Zones, Promise Zones, low to moderate income designated areas, or retail commercial corridors in the city.
• Priority will also be given to businesses that can provide evidence that they employ Camden City residents, to barber shops and salons, and retail commercial establishments without a drive-through.

Grants can be used to pay business lease or mortgage payments, utility payments, monthly debt payments, payroll, or inventory expenses. They cannot be used for acquisition of new property or construction/repair of new or existing property.

The Camden County CARES Small Business Grant will provide grants up to $10,000 for local businesses impacted by COVID-19. More information is available at the Camden County website.

Eligibility criteria for small business applicants include:

• Business revenue has been negatively impacted by the COVID-19 pandemic
• The business has been located in Camden County since January 1, 2019 or earlier
• The business employed 25 or fewer employees or full time equivalent as of March 1, 2020
• The business earned $5 million or less in total revenue during 2019

The business must not operate in any of the following categories:

• Banks or other financial institutions
• E-Commerce
• Businesses where the primary products or services are oriented to specific ages (vaping, liquor stores, etc.)
• Franchises, except for those franchises which are completely locally-owned and operated

Applicants who have questions or need help completing the application can call (833) 487-0462, Monday-Friday from 9 a.m.–5 p.m.

The COVID-19 Small Business Relief Grant Program will provide reimbursement for COVID-19 related loss of revenue, expenses incurred, and/or continuation of services to small businesses located in Middlesex County.

Funding is capped at $30,000 per applicant and a total of $30 million is available. Grants are available on a first-come, first-served basis.

Applicants must meet all of the following criteria:

• Independently or family-owned businesses with no more than 50 employees
• Documented business interruption as a result of the COVID-19 pandemic and related emergency declaration, resulting in financial loss.
• Businesses must have been open and operating on March 1, 2020
• Businesses deemed “non-essential” within the classification of “Businesses Required to Close” as per the Governor’s Executive Order No. 104, dated March 16, 2020
• Must be a Sole Proprietorship, LLC/LLP, S-Corporation, Corporation, Nonprofit or Partnership
• Active businesses physically located in Middlesex County, with a net annual business income of less than $1,000,000 based on their last federal tax return

Nonprofits are only only eligible for reimbursement of increased incurred expenses, not loss of revenue.

Applicants are not eligible for any expenses or loss of revenues previously reimbursed by State or Federal CARES Act funding, CDBG Grants, PPP Grants or Loans, private insurance, or any other COVID-19 relief program.

The Monmouth County CARES Economic Assistance Grant Program provides financial support up to $10,000 for those qualifying businesses, business owners, and nonprofits that do not exceed $5 million in annual gross revenue and have experienced costly interruptions as a result of the Coronavirus pandemic. A total of $10 million of allocated CARES funding is available. The grant application is available in English and Spanish.

Small business applicants must meet the following eligibility criteria:

• Physically located in Monmouth County since January 1, 2019 or earlier
• Negatively impacted by the COVID-19 pandemic
• $5 million or less in gross revenue
• 50 or fewer full time equivalent (FTE) employees including the owner as of March 1, 2020

Some categories of businesses, including banking, educational, governmental and medical service providers, are not eligible for the grant program.

Nonprofit applicants must meet the following eligibility criteria:

• Physically located in Monmouth County since January 1, 2019 or earlier
• Provides a public service to beneficiaries residing in Monmouth County
• Negatively impacted by the COVID-19 pandemic
• Registered with the IRS as a 501(c)3, 501(c)4, 501(c)6 limited to local and regional chambers of commerce, or 501(c)19
• May be a local affiliate of a larger state or national service organization

The Small Business Lease Emergency Assistance Grant Program provides grants up to $30,000 for rent relief for businesses and nonprofits located in Ocean County, on a first-come, first-served basis. A total of $7 million is available. The Ocean County Grant Application is currently open.

Eligible businesses include:

• Small business leasing commercial space in mixed-used buildings or commercial buildings
• Storefront businesses that lease their space
• Small businesses that demonstrate a loss due to COVID-19

To be eligible as a small business, the applicant's total leased premises of premises must be less than 7,000 square feet of leasable space. Applicants may not own more than one franchise. Priority will be given to eligible applicants who applied for the Small Business Lease Emergency Assistance Grant Program on August 10, 2020 and were not awarded funds.

Business must provide a copy of their current lease, tax clearance certificate or state business registration, verification of closure due to COVID-19 (if applicable), verification from landlord that the business was in good standing on monthly lease obligations prior to March 1, 2020, and certification acknowledging the amount of outstanding lease obligations. Businesses may be eligible even if they are current on their monthly lease payments.

The Small Business Lease Emergency Assistance Grant Program provides grants up to $20,000 for rent relief for businesses located in Passaic County, on a first-come, first-served basis. The Passaic County Grant Application is currently open.

Eligible businesses include:

• Small business leasing commercial space in mixed-used buildings or commercial buildings
• Storefront businesses that lease their space
• Small businesses that demonstrate a loss due to COVID-19

Businesses must be located in Passaic County. Non-profit organizations are not eligible.

Business must provide a copy of their current lease, tax clearance certificate or state business registration, verification of closure due to COVID-19 (if applicable), verification from landlord that the business was in good standing on monthly lease obligations prior to March 1, 2020, and certification acknowledging the amount of outstanding lease obligations. Businesses may be eligible even if they are current on their monthly lease payments.

Grants up to $3,500 available for local businesses impacted by COVID-19 on a first-come, first-served basis. The Perth Amboy COVID-19 Small Business Grant Application is currently open. More information available on the Perth Amboy website.

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The Union County COVID-19 Emergency Restaurant Grant provides for up to $20,000 for each qualified applicant, on a first-come, first-served basis. The program provides reimbursement of expenses related to compliance with executive orders during the public health emergency, including expenses for outdoor dining, social distancing, and disinfecting. A total of $2 million of allocated CARES funding is available.

Businesses must report all other grant funded received as well as the approximate sales volume of the business from January through September in 2019 and 2020.

Businesses will be required to submit their food service license, invoices and proof of payment for relevant expenses, business registration certificate or certificate of incorporation, most recent state and federal tax returns, standing certificate, and their IRS W-9 form.

Updated: November 18, 2020