Hoboken small business can now apply for $10,000 each in grant funding, made possible by $1.8 million allocated from the American Rescue Plan.
By John Heinis/Hudson County View
The funds, made available through Hoboken’s allocation of the American Rescue Plan, can be utilized for COVID-19 related expenses incurred between September 1st, 2020, and July 28th, 2021.
Those expenses can include employee salaries, mortgage payments, business loan payments, equipment leases or finance payments, and utilities including electric, water, gas, phone, and internet.
“Hoboken businesses are the lifeblood of this city, and we are doing everything we can to assist them as we overcome the challenges of the COVID-19 pandemic,” Mayor Ravi Bhalla said in a statement.
“This grant funding is another way we’re providing a measure of relief to our small business community as we continue our recovery. I thank Senator Menendez, Senator Booker, and Congressman Sires for advocating for small business funding through the American Rescue Plan, which I’m confident will be put to good use.”
To qualify, businesses must operate as for-profit entities and have no more than 25 full-time employees with no more than 1,000 hours per week to qualify for up to $10,000 in grant funding.
Hoboken businesses that can also verify 75 percent of their employees are fully vaccinated are eligible to receive bonus funding.
In the prior round of funding through the CARES Act, $1.82 million in grant funding was provided to 322 Hoboken businesses, with an average award amount of $5,652.
“The Hoboken Business Alliance and Hoboken business community at large are grateful for the work that Senator Menendez, the mayor of Hoboken, and governor have done to continually support the recovery of our small businesses,” added Hoboken Business Alliance President Greg Dell’Aquila.
“From the start of the Hoboken Business Alliance, the business community and the city government have been working hand in hand. Through the HBA and City’s support, the business community is in a much better position than we would have otherwise been.”
Business owners have until Wednesday, August 11th to submit an application.
Application submissions must be complete with all required documentation, including completed W-9, to be considered for funding. Those who seek bonus funding must provide proof of employee vaccinations. Incomplete submissions will be ineligible for an award.
The city will make award notifications by the end of September and to learn more and apply, go to hobokennj.gov/grants.
Additionally, any Hoboken business with questions about the program or criteria for grant funding should email firstname.lastname@example.org.