CHRISTIE ADMINISTRATION AWARDS STRONGER NJ BUSINESS GRANTS TO OCEAN COUNTY BUSINESSES
174 Businesses Now Approved for over $8.3 Million in Total Funding
Continuing the Christie Administration’s commitment to the recovery of small businesses in the aftermath of Superstorm Sandy, the New Jersey Economic Development Authority (EDA) announced today the recent award of Stronger NJ Business Grants to several businesses in Ocean County in support of their recovery.
La Luz Salon in Bay Head, Royal Sands Realty in Ortley Beach, Purpuri Shoes in Toms River, and Jersey Shore Laundry and Ohana Grill in Lavallette have all been approved for grants.
“While many Sandy-damaged businesses have come a long way, many are still recovering,” said EDA Chief Executive Officer Michele Brown. ”Any business with at least $5,000 in physical damage from the storm should contact us as the deadline to apply for a Stronger NJ Business Grant is December 31. The Stronger NJ Loan program will continue to be available after that date, so help is still available.”
To date, 174 businesses have been approved for grants totaling more than $8.3 million through the Stronger NJ Business Grant program, which offers grants of up to $50,000 to New Jersey businesses damaged by the storm.
The entire interior of La Luz Salon in Bay Head was destroyed following extensive flooding from the storm. The salon reopened in mid-February. According to owner, Luz Zavala, “It took so much of our time, energy, and financial resources to rebuild, but we were determined to remain a part of the Bay Head community. We are so thankful for the ongoing support of our customers and appreciate the help the state has provided.”
In Lavallette, flood waters damaged the building occupied by Jersey Shore Laundry and caused major loss of equipment and supplies. “We’re happy to be back and are grateful for the support of the state and our customers,” said Tammy Schmidt, owner, Jersey Shore Laundry. “It hasn’t been easy, but we were determined to reopen in time for the busy summer season.”
Governor Christie called on the EDA to administer $460 million of the state’s CDBG Disaster Recovery allocation to support the recovery of impacted businesses. The Stronger NJ Business Grant program is the first of these CDBG-funded business recovery programs and is utilizing $260 million of the allocation. On July 1, the EDA unveiled the $100 million Stronger NJ Business Loan program, which offers loans of up to $5 million with no interest or principal payments for up to 24 months to businesses impacted by the storm, as well as businesses looking to expand within storm-impacted communities.
The third Stronger NJ Business program, the $75 million Neighborhood and Community Revitalization Program, offers financial assistance to support 1) development and public improvement projects; 2) main street revitalization; and, 3) Community Development Financial Institutions providing loans to small businesses.
Grant applications must be submitted by on or by December 31, 2013. For more information on the Stronger NJ Business programs, including the complete list of eligibility criteria and eligible uses of funds visit http://application.njeda.com/strongernjbusiness or call EDA’s Sandy hotline at 1-855-SANDY-BZ (1-855-726-3929).
