SEASIDE BUSINESSES APPROVED FOR STRONGER NJ BUSINESS GRANTS AND LOANS
Trenton, NJ – To showcase the rebuilding of small businesses impacted by Superstorm Sandy, the New Jersey Economic Development Authority (EDA) today delivered a Stronger NJ Business Grant check to Hotel Charlee in Seaside Heights to support the hotel’s ongoing recovery. Grants and loans have recently been approved for several other Seaside Heights businesses, including Clown Around Amusements, Kohr’s Frozen Custard – The Original, Seaside Lumber, and Betty and Nick’s Bait and Tackle.
“We look forward to seeing many familiar and new faces on the boardwalk this summer, and we are optimistic that this season will be strong,” said Greg Kohr, Owner, Kohr’s Frozen Custard – The Original. “The struggles we have faced since Sandy have really unified the Seaside business community and we all appreciate the help the state has provided. We want people to know Seaside remains a great place to visit and vacation.”
Kohr’s was recently approved for a combination of grants and loans to help with the recovery of its three Seaside Heights locations.
To date, the EDA has approved over $5.4 million in grants and loans to 26 businesses in Seaside Heights and Seaside Park. In addition, under the Stronger NJ Neighborhood and Community Revitalization (NCR) program, $5 million has been approved for demolition and debris removal on the Seaside boardwalk.
”As the boardwalks and beaches start to come to life for the summer, it’s exciting to see so many businesses better positioned than they were this time last year,” said EDA Chief Executive Officer, Michele Brown. “This year is particularly important for these businesses as we enter the second tourist season since Sandy. Many businesses struggled last year, and we look forward to helping more businesses get back on their feet.”
Statewide, over 470 businesses have been approved for grants and loans totaling more than $50 million. Additionally, the EDA has recommended the approval of eleven municipalities for $10 million in Streetscape grants under the Stronger NJ Neighborhood and Community Revitalization (NCR) program, and provided $2.5 million in grants to five Community Development Financial Institutions offering recovery loans to Sandy-impacted small businesses.
The EDA is inviting applicants to one-on-one meetings with business advisors in their respective communities to assist impacted businesses with the completion of their applications. This will help expedite the process and ensure that additional burdens are not placed on the businesses. The EDA expects to hold workshops twice per week throughout May and into June, in Sandy-impacted municipalities.
Applicants are contacted via telephone prior to the workshops to schedule appointments and inform them of any documentation or information needed to complete their application. The first workshop was held in Seaside Heights on Tuesday, May 6th, followed by a workshop in Beach Haven on Thursday, May 8th.
The Stronger NJ programs are funded through New Jersey’s Community Development Block Grant Disaster Recovery (CDBG-DR) allocation from the United States Department of Housing and Urban Development (HUD). Similar to other Sandy relief grant programs, there are strict federal eligibility requirements to which the EDA and applicants must comply.
For more information on the Stronger NJ Business programs, visit http://application.njeda.com/strongernjbusiness or call EDA’s Sandy hotline at 1-855-SANDY-BZ (1-855-726-3929).