83 Kearny small businesses will benefit from the $1,244,946 million in CARES Act funding issued last week, Mayor Al Santos and Hudson County Executive Tom DeGise announced.
By John Heinis/Hudson County View
“The Town Council and I recognize that small businesses are the backbone of our community and we look forward to continue working with the business community in the weeks and months ahead to overcome the challenges presented by the pandemic,” Santos said in a statement.
“I’d like to thank our federal delegation for their work in bringing CARES Act funding to our community.”
In order to qualify for the awarded funding, a Kearny small business had to meet guidelines established by Hudson County pursuant to the CARES Act.
This included operating as a for-profit entity at the beginning of the COVID-19 pandemic, having 25 or fewer employees, and having a physical presence in town. The maximum grant award amount was $20,000.
The Town of Kearny worked closely with Valley Bank to create an application process and prioritize this critical funding for businesses negatively affected by COVID-19.
“We were honored to partner with the Town of Kearny to assist them with sustaining small businesses and mitigate the impact of COVID-19 on Kearny small businesses through the CARES program,” added Valley Bank’s Director of Business Banking in New Jersey Dorothy Kahlau.
Jersey City smalls businesses received around $9 million from the CARES Act to date, while neighboring Hoboken netted $1.82 million.
