321 Hoboken small businesses are now able to utilize the $1.82M in CARES Act funding relief to assist with payroll, mortgage payment, and utility expenses made exceedingly difficult due to the coronavirus pandemic.
“I’m hopeful that our federal elected officials will provide even more relief in the months ahead, as we continue to support our local mom and pop shops,” Mayor Ravi Bhalla said in a statement.
“Thank you to Senator Robert Menendez, Senator Cory Booker, and Congressman Albio Sires for fighting for CARES Act funding for our community.”
In July, Menendez joined Bhalla, Freeholder Anthony Romano (D-5), County Executive Tom DeGise, and other dignitaries in announcing roughly $1.9 million in CARES Act funding for small businesses in the Mile Square City.
“Hoboken’s economic recovery from the pandemic depends on small business coming back. That’s why we are so grateful to Senator Menendez and our federal legislative delegation for securing these CARES Act funds and working so hard with Mayor Bhalla and the business community to put them to the best use possible,” DeGise added.
In order for businesses to qualify, they had to be operating in Hoboken at the start of the COVID-19 pandemic in March, operate as a for-profit entity, and have 25 employees or less.
Amounts of grant funding were determined by criteria established by the Hudson County government.
Hoboken has also provided relief for small businesses through the Hoboken Relief Fund, created to provide financial assistance to small businesses and individuals affected by the current public health emergency.
The relief fund, co-chaired by Council President Jen Giattino and 5th Ward Councilman Phil Cohen, has raised over $410,000 for impacted Hoboken businesses and individuals.
Any Hoboken business with questions about the CARES Act grant funding are encouraged to email email@example.com.