179 Hoboken small businesses were awarded $1.82 million from the city’s American Rescue Plans funds, with an average grant amount of $9,800.
Of the 179 businesses that will be awarded grant funding, 115 will also receive a $1,500 vaccine bonus since 75 percent of their employees are fully vaccinated. In the coming weeks, the city will also publish a list of these businesses on the their website.
“We are continuing to support our small business community during the ongoing pandemic,” Mayor Ravi Bhalla said in a statement.
“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 September 1st, 2020, and July 28th, 2021, including employee salaries, mortgage payments, business loan payments, equipment leases or finance payments, and utilities including electric, water, gas, phone, and
The city will also make award notifications by the end of this week and begin distributing funds next week via wire transfers and checks.
In addition to expanding outdoor dining and launching a summer streets program, Hoboken partnered with Hudson County to also disperse $1.82 million in CARES Act 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.
The grant funding program made possible via ARP dollars was announced at the end of July.