STRONGER NJ BUSINESS GRANTS HELP SMALL BUSINESSES RECOVER
To help small businesses recover in the wake of Superstorm Sandy, the State of New Jersey is providing assistance through the Stronger New Jersey Business Grant and Loan programs, which are administered by the New Jersey Economic Development Authority (EDA). The Stronger NJ Business Grant program has helped dozens of business owners throughout NJ get back on their feet. Here are a few of them describing their experience https://www.youtube.com/watch?v=YUAc_4MJ9cI.
Under the Stronger NJ Business Grant program, grants up to $50,000 per business location are available. The grant program requires that a small business was in existence on October 29, 2012 and sustained a minimum of $5000 in physical damage from the storm.
All business owners whose businesses were damaged by Superstorm Sandy should contact the Economic Development Authority to learn more about the Stronger NJ Business Grants and Loan programs. Business advisors are available over the phone, in person, at your place of business, and at regularly scheduled workshops throughout the state. Visit the EDA’s website – www.njeda.gov or call 1-855-SANDY-BZ to learn more.
The Stronger NJ Business Loan Program is available to help small businesses that were damaged by Superstorm Sandy, as well as businesses looking to expand within storm-impacted communities. Loans up to $5 million per business are available, with no interest for the first 24 months and no principal payments for up to two years. Loans can be used for renovation, new construction, or equipment. In addition, loans of up to $500,000 are available for working capital needs. The grant and loan programs are separate and different from the Small Business Association (SBA) programs.