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
Moratorium on New Jersey Economic Development Authority Direct Loan Payments
The New Jersey Economic Development Authority has approved a three-month moratorium on direct loan and premier lender participation loan (pending approval by the agency bank) payments for eligible businesses. The New Jersey Economic Development Authority is also allowing collateral releases, subordinations, and substitutions on business assets for businesses impacted by COVID-19, and waiving late fees on loan repayments and loan modification fees for impacted businesses.
Government or Lead Agency
New Jersey Economic Development Authority
April 1, 2020 through July 1, 2020
Businesses are eligible if:
1) They are able to demonstrate negative impact related to COVID-19 on or after March 9, 2020;
2) They are not in active litigation with NJEDA; and
3) They have not been delinquent on their existing loan for 120 days.
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 the NJEDA’s website.
List of Additional Information
More information 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.