The Jersey City Economic Development Corporation is set to allocate $1.5 million towards local businesses with five or less employees, who will be eligible for up to $50,000 each, with the application process set to open next Monday.
By John Heinis/Hudson County View
“Our smallest businesses that provide a wide range of goods and services to our community are among the most financially burdened by this pandemic. These are business owners who live in Jersey City and are invested in the community,” Mayor Steven Fulop said in a statement.
“Since day one of this pandemic, we’ve worked to provide the support and resources our small businesses need to grow and thrive, and this second round of small business grants worth upwards of $50,000 each looks to build upon those efforts.”
These latest grants can be used for costs incurred between October 1st, 2020 and August 31st, 2021, for microenterprise businesses providing goods and services, such as grocery stores, childcare facilities, food delivery, food trucks, beauty salons, drug stores, medical supplies, laundromats, and home health support.
As long as a business did not receive funding for the same expenses during the same time period, eligible expenses include payroll assistance, training, peer support, supplies, PPEs for employees, childcare, transportation assistance, etc.
Business owner(s) household income cannot exceed 80 percent of the City’s Area Median Income (AMI) limit.
Additionally, JCEDC will host a free webinar today, November 1st, at 7 p.m. to help low-income business owners understand the grant application process, federal qualifications, and necessary documentation. To register for the webinar please visit jcedc.org.
“The JCEDC is proud to work closely with Mayor Fulop and the Administration as we have one collective goal: to help as many of Jersey City’s small business owners as possible,” JCEDC Chair Rosemary McFadden added.
“Our mission is to promote and facilitate economic development here in Jersey City, and these grants come at a critical time as many microenterprise businesses work to keep their doors open and recover from COVID-induced hardships.”
In July 2020, Fulop and Hudson County Executive Tom DeGise awarded over seven million in CARES Act grants to nearly 600 small businesses with 25 or fewer employees.
Of the nearly 600 grant recipients, approximately 300 of those small businesses are located in Jersey City’s west side and Heights sections, with an additional 200 within the downtown business district and nearly 80 business owners from the city’s Greenville section.
Applications for the COVID-19 Small Business Microenterprise Grants will be accepted from 11:00 a.m. on November 8th through 5 p.m. on November 19th.
Applications will be available online here or call the JCEDC at 201-284-9478.