Coronavirus (COVID-19) Relief Center
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These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on August 21, 2020.
Description of Program and Relief
Micro Business Loans and Other Financial Assistance for Businesses Affected by the COVID-19 Pandemic
The New Jersey Economic Development Authority offers financial assistance to businesses throughout New Jersey, this assistance is available in different forms, such as micro business loans of up to $50,000 dollars, direct loans of up to $3 million dollars, and lease reimbursement for up to 15% percent of business’s annual lease payments, which may help ease the financial impact of the COVID-19 pandemic on New Jersey businesses.
In addition, certain conditions imposed on various forms of assistance that generally require businesses to have their employees spend a certain percentage of their time at the employer’s business facility have been waived.
Government or Lead Agency
New Jersey Economic Development Authority
COVID-19 guidance updated on March 18, 2020
Various eligibility requirements apply depending on the type of relief the business is seeking. Requirements may include: limits on the company’s annual total revenue, a requirement that the company employ a certain number of individuals full-time, and restrictions based on whether the company is operated for-profit or not-for-profit. Businesses should check the requirements for the specific program for which they are applying for complete details.
Application Deadlines (If Applicable)
Contact for More Information
To reach a New Jersey Economic Development Authority team member, please call (609) 858-6767; or visit contactus.njeda.com/.
List of Additional Information
Guidance on the New Jersey Economic Development Authority’s response to COVID-19 is available here.
More information about potential financial assistance is available here.
More information about the waiver of certain conditions imposed on various forms of assistance is available here.
© 2020 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.