TRENTON, N.J. (November 10, 2021) – The New Jersey Economic Development Authority (NJEDA) Board today approved the creation of the Main Street Micro Business Loan, which will provide financing of up to $50,000 to eligible micro businesses in New Jersey with ten or fewer full-time employees and no greater than $1.5 million in annual revenues.  The Program is the successor to the Micro Business Loan Program established by the NJEDA in 2019.

The Main Street Micro Business Loan is the newest product from the Main Street Recovery Fund—a $100 million suite of programs created or expanded under the Economic Recovery Act of 2020 (ERA), signed by Governor Phil Murphy in January 2021.  The ERA includes tax credits to incentivize job creation, new construction, and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry.

“New Jersey’s economy depends on small businesses for the jobs they provide and the unique character they bring to our communities, said New Jersey Governor Phil Murphy. “As we emerge from the pandemic, we need to set the stage for a stronger and fairer recovery that creates opportunities for businesses that may have been left out in the past. The Main Street Micro Business Loan Program does just that by helping the smallest of businesses overcome some of the longstanding hurdles associated with accessing capital.” 

With $20 million in funds allocated from the Main Street Recovery Fund, financing from the Main Street Micro Business Loan will cover future operating expenses such as inventory, equipment (that does not require installation or construction work totaling more than $1,999.99) and working capital to fund business operating expenses. The loan will have a standard 10-year term and the interest rate will be 2 percent, with no interest and no payments due for the first year. 

“Micro businesses, which are often led by women and people of color, are an essential part of the state’s economy, and a major creator of jobs. Unfortunately, they often face disproportionate challenges when it comes to accessing low-cost financing,” said NJEDA Chief Executive Officer Tim Sullivan. “In line with Governor Murphy’s vision for a stronger, fairer New Jersey economy, the Main Street Micro Business Loan Program will ensure more businesses have access to the resources they need to not only survive the economic effects of the pandemic, but to regain their economic stability and build their resilience to future economic disruptions.”

To help ensure all Opportunity Zone eligible tracts in New Jersey receive opportunities for investment that are equitable and inclusive, $8 million will be set aside to support eligible businesses and nonprofits with a primary business location within the 715 census tracts designated as eligible to be selected as an Opportunity Zone.

Nonprofit, for profit, and home-based micro businesses interested in applying for the Main Street Micro Business Loan must meet the following eligibility requirements:

  • Must have less than $1.5 million in annual gross revenue for the most current fiscal year (to the extent the business has annual revenues)
  • Must have no more than 10 full-time employees
  • Must be legally registered to do business in New Jersey, with a business location (other than a home office) in New Jersey
  • Must be in existence, as evidenced by date of formation/incorporation, and in operation for at least six months prior to the date of application being made publicly available
  • Must be in good standing with the New Jersey Department of Labor and Workforce Development (LWD) and NJ Department of Environmental Protection at the time of application to be eligible for a micro business loan
  • Must provide a current tax clearance prior to approval to demonstrate the applicant is in good standing with the NJ Division of Taxation.

The Main Street Micro Business Loan will not require collateral, as the underwriting criteria will be based solely on credit score. Only not-profit organizations will need to be fully underwritten and required to meet a 1.0 debt service coverage ratio. For all other for-profit entities, at least one owner must have a credit score of 600 or greater to be considered eligible.  Personal guarantees of all owners or principals will be required of for-profit entities, but not from nonprofit organizations.   

Additionally, borrowers under the Main Street Micro Business Loan may be eligible for the balance of the loan to be forgiven at the end of the fifth year. To qualify for this forgiveness, the applicant must be current on all loan payments with no delinquency of more than 90 days and must be able to certify that they are still open and operating as detailed in the loan agreement. Furthermore, recognizing the extraordinary economic circumstances that make this program necessary, the NJEDA reduced the non-refundable application fee to $100 and a closing fee of $400.

Applications for the Main Street Micro Business Loan will be reviewed on a first-come, first-served basis, based on the date/time at which the Authority receives the completed application. Any pending applications to the prior Micro Business Loan Program can still proceed toward closing on their loan. Past recipients of the Micro Business Loan Program are eligible to apply for the Main Street Micro Business Loan.  Due to the favorable terms of this product only one application per EIN is allowed.  

For more information about the Main Street Micro Business Loan, go to https://www.njeda.gov/microbusinessloan/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (November 3, 2021) – The New Jersey Economic Development Authority (NJEDA) announced today that it will host a virtual workshop to provide information on how to obtain and maintain the necessary documents from state departments. The ‘Navigating State Departments’ Workshop will be held at 11:00 a.m. on November 9th, 2021 and will connect business owners with the people and information they need to start and maintain their business long-term.

This is a great opportunity for New Jersey’s small businesses, startups, and nonprofits to learn how to properly navigate the numerous programs and services offered by State entities, such as how to properly register a business in New Jersey; how to obtain a tax clearance certificate; how to certify a business as women-, minority-, or veteran-owned; and ways to access free available technical assistance, federal resources, and mentorship opportunities, among other relevant topics.

Representatives from the New Jersey Division of Taxation, the New Jersey Department of Treasury, the New Jersey Business Action Center (BAC) and the New Jersey Small Business Development Centers (SBDC) Capital Team will offer their expertise to provide you with all the necessary information you need to see your business grow in the Garden State!

The virtual workshop will start at 11:00 a.m. on Tuesday, November 9th, 2021. Businesses owners interested in participating can register at: https://njeda.zoom.us/webinar/register/WN_nFgemN59QrCDt9R9ZiNW6Q

Additional information about this virtual workshop can be found at https://www.njeda.gov/events/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (20 de octubre 2021) – El proceso de aplicaciones para el subsidio de alquileres para pequeñas empresas de la Autoridad para el Desarrollo Económico de New Jersey (NJEDA, por sus siglas en inglés) abrió hoy 20 de octubre a las 9:00 a.m.

El subsidio de alquileres para pequeñas empresas otorga subsidios de hasta el 20 por ciento de los pagos de alquiler anual a pequeñas empresas y organizaciones sin fines de lucro que tengan contratos de alquiler nuevos o modificados a la tasa de mercado por al menos 250 pies cuadrados de espacio a nivel de la calle. Las aplicaciones se aceptarán de forma continua hasta que se otorguen todos los fondos.

Más información y la aplicación están disponibles en https://www.njeda.gov/small-business-lease-grant/.

Tenga en cuenta: Este anuncio es solo para el subsidio de alquileres para pequeñas empresas, que es un programa independiente del subsidio para la mejora de pequeñas empresas. Las solicitudes para el subsidio para la mejora de pequeñas empresas se lanzarán en una fecha próxima, la cual la NJEDA comunicará al público en su sitio web y a través de sus cuentas de redes sociales antes del lanzamiento del proceso de aplicaciones.

Detalles del Programa

El subsidio de alquileres para pequeñas empresas es un programa de $10 millones diseñado para revitalizar los centros urbanos y las calles principales al compensar una parte del costo asociado con las empresas y organizaciones sin fines de lucro que alquilan espacios a nivel de calle.

A través del programa, las empresas y organizaciones sin fines de lucro elegibles que tengan contratos de alquiler nuevos o modificados a la tasa de mercado pueden recibir dos subsidios por un total de hasta el 20 por ciento de los pagos de alquiler anual. El primer subsidio se pagará a las entidades inmediatamente después de que sean aprobadas para el programa y ejecuten el acuerdo del subsidio, y el segundo subsidio se pagará después del primer año de alquiler.

Para ser elegibles, las empresas y organizaciones sin fines de lucro deben tener un nuevo contrato de alquiler, una enmienda del alquiler o una extensión del alquiler que incluya al menos 250 pies cuadrados de espacio de oficinas, comercial o minorista a nivel de la calle. El solicitante también debe comprometerse a permanecer en el espacio alquilado durante al menos cinco años. Los criterios completos de elegibilidad están disponibles en https://www.njeda.gov/small-business-lease-grant/.

De acuerdo con el compromiso del gobernador Phil Murphy de lograr una recuperación más sólida y justa de la pandemia de COVID-19, el 40 por ciento de los $10 millones asignados al subsidio de alquileres para pequeñas empresas se destinará a empresas y organizaciones sin fines de lucro en las secciones del censo que fueron elegibles para ser designadas como Zonas de oportunidad. Esta focalización ayudará a garantizar que los recursos estén disponibles para las entidades y comunidades propiedad de minorías y mujeres que han enfrentado desafíos importantes como resultado del COVID-19.

El subsidio de alquileres para pequeñas empresas es el primero de varios programas que la NJEDA lanzará en los próximos meses en el marco del Programa de recuperación de Main Street. Creado bajo la Ley de Recuperación Económica de Nueva Jersey de 2020, el Programa de Recuperación de Main Street es un programa de apoyo a pequeñas empresas de $100 millones que financiará múltiples productos de asistencia financiera con el fin de respaldar el crecimiento y el éxito de las pequeñas empresas en New Jersey. Más información sobre el Programa de recuperación de Main Street está disponible en https://www.njeda.gov/main-street-recovery-fund/.

Acerca de la Autoridad para el desarrollo económico de New Jersey

La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

Para obtener más información acerca de los recursos de la NJEDA para empresas, llame a la línea de atención al cliente de NJEDA al 844-965-1125 o visite https://www.njeda.gov y siga a @NewJerseyEDA en Facebook, Twitter, Instagram y LinkedIn.

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TRENTON, N.J. (October 1, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced the first approvals under the Community Stage Relief Grant Program. To date, twenty businesses involved in promoting and producing live performances have been awarded a total of $2.9 million in grants through the program. The NJEDA anticipates approving funding for additional businesses in the coming weeks.

“New Jersey’s eclectic arts and cultural scene is an essential element of its economic success and Governor Murphy is committed to supporting performing arts businesses that were hit hard by the economic effects of COVID-19,” said NJEDA Chief Executive Officer Tim Sullivan. “The Community Stage Relief Grant Program will ensure our communities remain vibrant places to live, work, and play by providing the funds performing arts venues and other businesses involved in live performances need to recover and reopen safely in the aftermath of the pandemic.”

Launched in August, the New Jersey Community Stage Relief Grant Program provides grants of up to $300,000 to businesses involved in the promotion and production of live events. Qualified businesses can receive grants of up to 30 percent of their decline in operating revenue from 2019 to 2020.

To ensure grants reach businesses in the hardest hit communities, including communities of color, one-third of the funding available through the Community Stage Relief Grant Program is targeted to businesses with a primary business location in a census tract that was designated as eligible to be selected as an Opportunity Zone.

A separate grant program administered by the New Jersey State Council on the Arts was created to provide COVID-19 relief to nonprofit arts venues.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (September 30, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that it is partnering with two entities to offer support services to businesses impacted by the remnants of Hurricane Ida that are seeking federal financial assistance through the Small Business Administration’s (SBA’s) Non-COVID Economic Injury Disaster Loan (EIDL) Program and/or Business Physical Disaster Loan Program.

The NJEDA has selected the African-American Chamber of Commerce of New Jersey (AACCNJ) and the Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) to help guide businesses that sustained storm damage through the process of applying for SBA financing. This technical assistance is the latest in a series of steps New Jersey is taking to provide one-on-one assistance to New Jersey small businesses impacted by Hurricane Ida.

“Public and private sector partners have been essential to the State’s COVID recovery efforts, and these partnerships remain critical as we work to assist businesses and non-profits, including those in historically underserved communities, recovering from the damage and economic disruption caused by recent severe weather,” said NJEDA Chief Executive Officer Tim Sullivan. “The AACCNJ and SHCCNJ will help to connect business owners and entrepreneurs with funding while we continue to work with Governor Phil Murphy to assess the needs of businesses and develop additional resources to help make them whole.”

The SBA’s Physical Disaster and EIDL Programs are available to businesses, non-profit organizations, homeowners and renters in Bergen, Essex, Gloucester, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Union and Warren counties.

This assistance provided by the AACCNJ and SHCCNJ includes, but is not limited to, preparing financial information, packaging application documentation, and completing and submitting the on-line or paper-based application. Compensation for these organizations will be based on completed and submitted SBA applications.

“The AACCNJ is committed to assisting its constituents with securing SBA assistance to help them recover from devastation resulting from Hurricane Ida,” said AACCNJ President, Founder, and CEO John E. Harmon, Sr., IOM. “Small business owners and employers throughout the state can rest assured that we are here to help and will leverage our partnerships and expertise to guide them through the SBA application process.”

“The Chamber is eager to work with business owners and non-profit leaders to help secure the SBA funding that will be so critical to their recovery from damage caused by Ida,” said Carlos Medina, CEO and President, SHCCNJ. “This storm occurred at a time when businesses were bouncing back from the pandemic, and we hope that our assistance will get them quickly back on their path toward recovery.”

Loans of up to $2 million are available through the Non-COVID EIDL Program and Business Physical Disaster Loan Program.

For more information, please contact the AACCNJ or the SHCCNJ.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA’s Call Center at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Trenton, N.J. (17 de septiembre de 2021) – La Autoridad para el desarrollo económico de New Jersey (NJEDA, por sus siglas en inglés) anunció que tiene previsto abrir el proceso de aplicaciones para su Programa de subsidios para alquiler para pequeñas empresas el 20 de octubre. El programa piloto de $10 millones ayudará a revitalizar el centro de la ciudad y las calles principales al compensar una parte del costo asociado al alquiler del espacio al nivel de la calle de empresas y entidades sin fines de lucro. Es el primero de varios programas que lanzará la NJEDA en los próximos meses bajo el Programa para la recuperación Main Street. Creado en virtud de la Ley de Recuperación Económica de 2020, el Programa para la recuperación Main Street es un programa de apoyo de $100 millones para pequeñas empresas que financiará diversos productos de asistencia financiera orientados a respaldar el crecimiento y el éxito de las pequeñas empresas de New Jersey. Puede encontrar más información en https://www.njeda.gov/main-street-recovery-fund/.

A partir del 20 de octubre de 2021, las empresas y entidades sin fines de lucro elegibles que estén ejecutando contratos de alquiler nuevos o con una tasa de mercado modificada pueden solicitar un par de subsidios por un total de hasta el 20 por ciento de los pagos de alquiler anuales. El primer subsidio se pagará a las entidades inmediatamente después de que sean aprobadas para el programa y firmen el acuerdo de subsidio, y el segundo subsidio se pagará un año después de que se hayan cancelado los pagos del alquiler. 

Para poder calificar para el Programa de subsidios para alquiler para pequeñas empresas, las empresas y entidades sin fines de lucro deben ejecutar un nuevo alquiler, un convenio modificatorio al alquiler o una extensión del alquiler que incluya al menos 250 pies cuadrados de una oficina, un espacio comercial o un local comercial que dé a la calle. El alquiler debe haber sido ejecutado dentro de los 12 meses previos a la solicitud, y los solicitantes también deben comprometerse a permanecer en el espacio alquilado durante al menos cinco años. También se exigirá a las empresas y entidades sin fines de lucro que reciban subsidios mediante estos programas que acepten pagar a los empleados, en adelante y durante el plazo del subsidio de cinco años, al menos $15 por hora o el 120 por ciento del salario mínimo. Los empleados que reciben propina están exentos del requisito de $15 por hora, pero igualmente se les debe pagar al menos el 120 por ciento del salario mínimo. Puede encontrar los criterios de elegibilidad completos, detalles del programa e información adicional sobre el programa en https://www.njeda.gov/small-business-lease-grant-program/.

En línea con el compromiso de equidad del Gobernador Phil Murphy, el 40 por ciento de los fondos del programa se reservarán para empresas y entidades sin fines de lucro que se encuentren en las áreas censales elegibles como Zonas de oportunidad.

“La NJEDA ha pasado los últimos 18 meses especialmente enfocada en ayudar, de manera imparcial y equitativa, a las pequeñas empresas que soportan estoicamente al impacto económico de la COVID-19”, manifestó el Director Ejecutivo de la NJEDA, Tim Sullivan. “Ahora, gracias a las leyes aprobadas por el Gobernador Phil Murphy a principios de este año, nuestro Programa para la recuperación Main Street dotará a las pequeñas empresas y entidades sin fines de lucro con las herramientas necesarias para reabrir y prepararse para el éxito a largo plazo en el período que siga a la pandemia. Ampliar el Programa de subsidios para alquiler para pequeñas empresas es un primer paso importante”.

Aprobada en enero de 2021, la Ley de Recuperación Económica crea un paquete de programas que incluye créditos fiscales para incentivar la creación de puestos de trabajo, nuevas construcciones y recuperación de áreas urbanas abandonadas y propiedades históricas; recursos financieros para pequeñas empresas; apoyo para nuevos supermercados y comerciantes minoristas de alimentos saludables en comunidades con escasez alimentaria; nuevas oportunidades de financiamiento para compañías de New Jersey que estén dando sus primeros pasos; y apoyo para la creciente industria del cine y los medios digitales.

Acerca de la Autoridad para el desarrollo económico de New Jersey

La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

Para obtener más información acerca de los recursos de la NJEDA para empresas, llame a la línea de atención al cliente de NJEDA al 609-858-6767 o visite https://www.njeda.gov y siga a @NewJerseyEDA en Facebook, Twitter, Instagram y LinkedIn.

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Trenton, N.J. (September 15, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that it plans to open applications for its Small Business Lease Grant Program on October 20. The $10 million pilot program will help revitalize downtowns and main streets by offsetting a portion of the cost associated with businesses and nonprofits leasing street-level space. It is the first of several programs the NJEDA will launch in the coming months under the Main Street Recovery Program. Created under the Economic Recovery Act of 2020, the Main Street Recovery Program is a $100 million small business support program that will fund multiple financial assistance products aimed at supporting the growth and success of small businesses in New Jersey. More information is available at https://www.njeda.gov/main-street-recovery-fund/.

Starting October 20, 2021, eligible businesses and nonprofits that are entering new or amended market rate leases can apply for a pair of grants totaling up to 20 percent of annual lease payments. The first grant will be paid to entities immediately after they are approved for the program and execute the grant agreement, and the second grant will be paid one year after lease payments have been paid.  

In order to qualify for the Small Business Lease Grant Program, businesses and nonprofits must enter a new lease, lease amendment, or lease extension that includes at least 250 square feet of street-level office, commercial, or retail space. The lease must have been executed within 12 months prior to the application and applicants must also commit to remaining in the leased space for at least five years. Businesses and nonprofits that receive grants through these programs will also be required to agree to pay employees going forward for the five-year grant term at least $15 per hour or 120 percent of the minimum wage. Tipped employees are exempt from the $15 per hour requirement but must still be paid at least 120 percent of the minimum wage. Complete eligibility criteria, program details and additional information about the program at https://www.njeda.gov/small-business-lease-grant-program/.

In line with Governor Phil Murphy’s commitment to equity, 40 percent of program funding will be set aside for businesses and nonprofits in Opportunity Zone-eligible census tracts.


“The NJEDA has spent the past 18 months laser-focused on helping small businesses weather the financial impact of the COVID-19 in a fair and equitable manner,” NJEDA Chief Executive Officer Tim Sullivan said. “Now, thanks to legislation signed by Governor Phil Murphy earlier this year, our Main Street Recovery Program will arm small businesses and nonprofits with the tools necessary to reopen and prepare for long-term success in the aftermath of the pandemic. Rolling out the Small Business Lease Grant Program is an important first step.”

Signed in January 2021, the Economic Recovery Act creates a package of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (13 de septiembre de 2021) – La Autoridad para el desarrollo económico de New Jersey (NJEDA, por sus siglas en inglés) anunció que se aprobó el Programa de subsidios de asistencia para empresas afectadas por Henri/Ida en una asamblea especial de la Junta realizada la semana pasada.  El programa de $10.5 millones proporcionará subsidios de $1,000 a $5,000 para empresas y entidades sin fines de lucro que sufrieron daños físicos a causa de los efectos de las recientes tormentas tropicales Henri e Ida.

La aprobación sigue al anuncio del gobernador Phil Murphy de los detalles preliminares del programa la semana pasada. A la NJEDA se le ha encomendado la tarea de crear y administrar el programa, que ofrecerá apoyo para el reembolso inmediato a corto plazo del alquiler/la hipoteca a las empresas y entidades sin fines de lucro de New Jersey con hasta 50 empleados equivalentes a tiempo completo que sufrieron daños físicos a causa de la tormenta tropical Henri el 22 y 23 de agosto o a causa de la tormenta tropical Ida el 1, 2 y 3 de septiembre de 2021.

Puede encontrar más información sobre el programa de subsidios de asistencia para empresas afectadas por Henri/Ida en https://www.njeda.gov/henri-ida-relief/.

“Incontables empresas de New Jersey sufrieron la ira de las tormentas tropicales Henri e Ida las últimas semanas, y la medida adoptada hoy por la Junta de la NJEDA nos permitirá movernos con rapidez para ayudar a esas empresas que lo necesitan”, expresó el gobernador Murphy. “Claramente el tiempo es oro, y estamos empeñados en asignar fondos a las empresas y entidades sin fines de lucro lo más rápido posible”.

El programa de subsidios para empresas afectadas por Henri/Ida está diseñado para ayudar a las empresas y entidades sin fines de lucro afectadas por las tormentas tropicales Henri e Ida. El programa proporcionará subsidios desde $1,000 hasta $5,000 a pequeñas empresas y entidades sin fines de lucro de New Jersey que tengan hasta 50 empleados equivalentes a tiempo completo en su último formulario WR-30 (2.º trimestre de 2021) con el Departamento de Trabajo y Capacitación Laboral (DOL, por sus siglas en inglés) de NJ y tengan una ubicación comercial en el estado que haya sufrido daños físicos como consecuencia de las tormentas tropicales Henri e Ida. De los $10.5 millones disponibles para el programa, $10 millones estarán disponibles para subsidios para empresas y entidades sin fines de lucro afectadas por Ida, y $500,000 se destinarán para empresas y entidades sin fines de lucro afectadas por Henri.

Los arrendadores y las empresas administradas desde el hogar no son elegibles para los fondos del subsidio a través de este programa. Para ser elegible, la entidad solicitante debe:

  • Proporcionar una certificación de una necesidad no cubierta debido a daños y/o interrupción comercial.
    • Esto incluye, sin carácter limitativo, inundación, daño interior o exterior en la estructura edilicia, daño del techo y daño del revestimiento exterior, todo directamente relacionado con las tormentas tropicales Henri e Ida. Quedarse sin energía eléctrica únicamente no se considera un daño físico.
  • Proporcionar documentación del daño físico a la ubicación comercial física del solicitante.
  • Estar operativa al 1 de agosto de 2021.
  • Presentar un número de identificación de empleador (EIN) válido.
  • Presentar un formulario de informe de salarios (WR30) reciente, si corresponde.
  • Presentar el comprobante de un pago del alquiler/la hipoteca de agosto de al menos $1,000 así como también tener una necesidad superior a $1,000.
  • Estar registrada para realizar actividades comerciales en el Estado de New Jersey, según conste en un Certificado de registro comercial válido.
  • Estar debidamente registrada en el Departamento Fiscal y el DOL y, si corresponde, en la División de control de bebidas alcohólicas, el Departamento de Niños y Familias y/o el Departamento de Servicios Humanos.
  • Completar una declaración jurada identificando todas las fuentes de financiamiento relacionadas con la recuperación de las tormentas tropicales Henri e Ida, entre ellas subsidios anteriores, seguro y préstamos y subsidios de la Administración de Pequeñas Empresas.
  • Cumplir con cualquier requisito adicional que corresponda.

Los subsidios se entregarán en la forma de reembolso del alquiler o la hipoteca de agosto (alquiler mínimo de $1,000 para elegibilidad). Para asegurarnos de que los subsidios lleguen a las empresas de las comunidades más afectadas, incluidas comunidades de color, un tercio de los $10 millones de los fondos disponibles a través del programa se asignará a empresas con sede en una de las 715 áreas censales elegibles para ser designadas como Zonas de oportunidad.

“La NJEDA comparte con el gobernador Murphy la urgencia mientras trabajamos para brindar apoyo a las pequeñas empresas y entidades sin fines de lucro que lidian con el impacto de Henri e Ida”, manifestó el director ejecutivo de la NJEDA, Tim Sullivan. “La necesidad de ayuda es particularmente alarmante, ya que estas tormentas ocurrieron justo cuando New Jersey se estaba recuperando del impacto de la pandemia de COVID-19. Es más crítico que nunca que hagamos todo lo posible para ayudar a las entidades afectadas a regresar al funcionamiento normal para que puedan continuar con su rol como impulsores de la economía de las comunidades de New Jersey”.

La NJEDA ha remarcado a los propietarios de empresas y a los directores de entidades sin fines de lucro la importancia de documentar detalladamente todos los daños físicos cuando se preparan para solicitar asistencia a través de este programa y cualquier programa futuro, lo que incluye tomar fotografías claras y guardar los recibos de las reparaciones y materiales asociados.

Puede encontrar la información completa sobre el programa de subsidios de asistencia para empresas afectadas por Henri/Ida en https://www.njeda.gov/henri-ida-relief/. La NJEDA prevé lanzar una solicitud en línea para el programa a las 9:00 a. m. el viernes 17 de septiembre en https://www.njeda.gov/henri-ida-relief/. Las solicitudes se revisarán por orden de presentación.

Acerca de la Autoridad para el desarrollo económico de New Jersey

La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

Para obtener más información acerca de los recursos de la NJEDA para empresas, llame a la línea de atención al cliente de NJEDA al 609-858-6767 o visite https://www.njeda.gov y siga a @NewJerseyEDA en Facebook, Twitter, Instagram y LinkedIn.

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Trenton, N.J. (August 31, 2021) – The New Jersey Economic Development Authority (NJEDA) congratulates startup companies that recently graduated from the fifth cohort of the Multicultural Innovation Lab (MCIL). The MCIL, Morgan Stanley’s in-house startup accelerator, promotes financial inclusion and provides access to capital for early stage technology and tech-enabled companies led by women and multicultural entrepreneurs. It was the first accelerator accepted into NJEDA´s NJ Accelerate program in late 2020.

An accelerator is a fixed-term, cohort-based “boot camp” for startups that offers educational and mentorship programs and facilitates connections to venture capitalists, angel investors, mentors, and corporate executives who can help early-stage companies grow. Many accelerators also provide investment capital and office space.

NJ Accelerate, which launched in 2020, incentivizes accelerators from around the country to recruit participants in New Jersey. It also incentivizes the startups to locate in the Garden State after graduating from approved accelerators. Through NJ Accelerate, the NJEDA matches investment provided by approved accelerators with up to $250,000 in direct loans for startups that locate in New Jersey within six months after graduating from the approved programs. A five-percent bonus is available for companies that are certified as women-or minority-owned. The NJEDA will also provide rent support for up to six months if a company locates in an approved NJ Ignite collaborative workspace.

The MCIL was created in 2017 to drive positive economic outcomes for multicultural and women-led companies in the post-seed to Series B funding rounds by providing content, visibility, technical support, and connectivity with important stakeholders who can accelerate the growth of a participants’ businesses. To date, the Lab has a portfolio of 51 participating companies that reach over $450 million in combined valuation and have raised more than $80 million in additional funding after completing the program.

“As we continue to advance initiatives that increase access to capital for diverse entrepreneurs in New Jersey, we take a moment to applaud the success of Morgan Stanley’s Multicultural Innovation Lab, which provides the support businesses need to grow and scale in their respective areas,” said NJEDA Chief Executive Officer Tim Sullivan. “The tools, resources and connections provided by the MCIL and the NJEDA have proven to be essential for these startup companies who are developing innovative solutions across different sectors of our economy, bringing hundreds of jobs and millions of dollars into the state and serving as a testament to Governor Phil Murphy’s strategy for building a stronger, fairer New Jersey.”

The Lab is currently working with its sixth cohort of diverse funders following Morgan Stanley’s recent selection of eight startups for the Summer 2021 class. These includes companies that have innovative strategies across sectors – such as fintech, healthcare, media, marketplace, retail tech and enterprise software.

ABF Creative, a Newark, NJ-based audio content production company and America´s first and only artificial intelligence-driven producer of multicultural audio content, was among the startups selected to  participate in the fifth MCIL cohort that recently graduated from the program.

“It was a pleasure to work with Morgan Stanley. The commitment to making sure our company was successful is something I was surprised to see from such a large institution. I’m happy to have them on speed dial to help us not just during the cohort, but even long after,” said ABF Creative Chief Executive Officer Anthony Frasier.

Through the Lab, Morgan Stanley makes investments in early stage, high-growth companies, committing to support each founder’s growth and development through its network of internal and external partners. The Lab’s curriculum is tailored to suit each individual cohort, but it generally includes such topics as branding a startup, developing an investor pitch, refining a company’s value proposition and devising effective finance and sales strategies. In addition, Morgan Stanly offers participants the opportunity to meet with industry experts for one-on-one consultations, as it pairs each startup company with a mentor chosen specifically for their relevant expertise. The mentor communicates with the participant on a regular basis and provides advice and counsel on company growth and scaling of the business.

“Morgan Stanley is proud to invest in talented entrepreneurs who make a commendable effort to grow and develop their companies through the Morgan Stanley platform,” said Alice Vilma, Managing Director and Co-Head of the Multicultural Innovation Lab. “As we continue to work with the NJEDA to address existing inequities in funding of multicultural and women-led startups, we’re thrilled to keep providing these companies access to our global networks and resources to help bring their businesses to scale.”

On August 16, the sixth cohort of participating companies began the five-month program which culminates in a Demo Day and showcase presentation to potential investors scheduled to take place in January 2022. The Lab is currently operating in a hybrid environment, using online video platforms to facilitate its curriculum and convening in-person to foster community engagement. Applications are currently open for the Winter 2022 class through September 16, 2021. To learn more about the Multicultural Innovation Lab, please visit https://www.morganstanley.com/about-us/diversity/multicultural-innovation-lab.

Accelerators and entrepreneurs interested in participating in the NJ Accelerate program are encouraged to contact the NJEDA at NJAccelerate@njeda.com. Additional information and detailed eligibility criteria for both accelerator programs and entrepreneurs are available at https://www.njeda.gov/njaccelerate.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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