January 21, 2021

Volume XI, Number 21

Advertisement

January 20, 2021

Subscribe to Latest Legal News and Analysis

January 19, 2021

Subscribe to Latest Legal News and Analysis

January 18, 2021

Subscribe to Latest Legal News and Analysis

Update: New Jersey Small Business Assistance Grant

The New Jersey Economic Development Authority (“NJEDA”) launched the New Jersey Small Business Assistance Grant program wherein the NJEDA allocated $5 million to the program to provide grants up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service, and other services — such as repair, maintenance, personal, and laundry services — and nonprofits to stabilize their operations and reduce the need for layoffs or furloughs during the COVID-19 pandemic. You can see our original post regarding the program here.

Unfortunately, the program ran out of funds within hours of opening the application portal. However, on May 15th, 2020, Governor Murphy announced an additional $50 million from the federal government is expected to replenish the program to help those small businesses impacted by COVID-19.

More details are to come, but it is expected that the backlog of applicants that applied in the first wave will receive the first bite of the additional funds. The NJEDA is also expected to broaden the eligibility requirements of the New Jersey Small Business Assistance Grant program.

Advertisement
COPYRIGHT © 2020, STARK & STARKNational Law Review, Volume X, Number 137
Advertisement

TRENDING LEGAL ANALYSIS

Advertisement
Advertisement

About this Author

Rachel Lilienthal Stark Banking & Financial Services Attorney Stark & Stark Lawrenceville, NJ
Shareholder

Rachel Lilienthal Stark is a Shareholder and member of the Banking & Financial Services, Business & Corporate, Intellectual Property and Non-Profit Organization Groups. Ms. Stark concentrates her practice in the representation of start-up and emerging companies and non-profit organizations on a variety of issues including corporate formation, financing, franchising, licensing, acquisitions, executive compensation, equity compensation plans, employment agreements, real estate and intellectual property law. Ms. Stark also represents lenders in commercial loan transactions.

...

609.895.7348
Dolores Kelley, Stark and Stark Law, Real Estate Lawyer, Zoning and Land Use Attorney, FDA Litigator
Shareholder

Dolores R. Kelley is a Shareholder and member of Stark & Stark’s Business & Corporate, Real Estate, Zoning & Land Use and Beer & Spirits Groups, where she concentrates her practice in the representation of start-up and emerging companies, breweries, distilleries, and non-profit organizations on a variety of issues including corporate formation, financing, licensing, acquisitions employment agreements and intellectual property law. Dolores also handles a wide range of matters for the real estate industry, including commercial transactions, leasing, condominium and homeowner...

609.791.7005
Advertisement
Advertisement