TRENTON, N.J. (September 30, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that it is partnering with two entities to offer support services to businesses impacted by the remnants of Hurricane Ida that are seeking federal financial assistance through the Small Business Administration’s (SBA’s) Non-COVID Economic Injury Disaster Loan (EIDL) Program and/or Business Physical Disaster Loan Program.

The NJEDA has selected the African-American Chamber of Commerce of New Jersey (AACCNJ) and the Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) to help guide businesses that sustained storm damage through the process of applying for SBA financing. This technical assistance is the latest in a series of steps New Jersey is taking to provide one-on-one assistance to New Jersey small businesses impacted by Hurricane Ida.

“Public and private sector partners have been essential to the State’s COVID recovery efforts, and these partnerships remain critical as we work to assist businesses and non-profits, including those in historically underserved communities, recovering from the damage and economic disruption caused by recent severe weather,” said NJEDA Chief Executive Officer Tim Sullivan. “The AACCNJ and SHCCNJ will help to connect business owners and entrepreneurs with funding while we continue to work with Governor Phil Murphy to assess the needs of businesses and develop additional resources to help make them whole.”

The SBA’s Physical Disaster and EIDL Programs are available to businesses, non-profit organizations, homeowners and renters in Bergen, Essex, Gloucester, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Union and Warren counties.

This assistance provided by the AACCNJ and SHCCNJ includes, but is not limited to, preparing financial information, packaging application documentation, and completing and submitting the on-line or paper-based application. Compensation for these organizations will be based on completed and submitted SBA applications.

“The AACCNJ is committed to assisting its constituents with securing SBA assistance to help them recover from devastation resulting from Hurricane Ida,” said AACCNJ President, Founder, and CEO John E. Harmon, Sr., IOM. “Small business owners and employers throughout the state can rest assured that we are here to help and will leverage our partnerships and expertise to guide them through the SBA application process.”

“The Chamber is eager to work with business owners and non-profit leaders to help secure the SBA funding that will be so critical to their recovery from damage caused by Ida,” said Carlos Medina, CEO and President, SHCCNJ. “This storm occurred at a time when businesses were bouncing back from the pandemic, and we hope that our assistance will get them quickly back on their path toward recovery.”

Loans of up to $2 million are available through the Non-COVID EIDL Program and Business Physical Disaster Loan Program.

For more information, please contact the AACCNJ or the SHCCNJ.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA’s Call Center at 844-965-1125 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitter, Instagram, and LinkedIn.

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TRENTON, N.J. (September 29, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced the first approvals under the Ida/Henri Business Assistance Grant Program. The NJEDA anticipates approving relief awards for hundreds of additional businesses and nonprofits in the coming weeks.

“The damage caused by the remnants of Hurricanes Ida and Henri was a tragic and unexpected challenge for communities that were rebounding strongly in the wake of COVID-19,” said NJEDA Chief Executive Officer Tim Sullivan. “The Ida/Henri Business Assistance Grant Program is providing much-needed immediate support to help businesses and nonprofits rebuild, and the NJEDA is working closely with Governor Murphy to provide additional resources to support his vision for a stronger, fairer recovery.”

Created in early September to support communities that were impacted by the remnants of Hurricanes Ida and Henri, the Ida/Henri Business Assistance Grant Program is a $10.5 million program that provides grants of $1,000 to $5,000 to businesses and nonprofits that were damaged by the extreme weather that passed through New Jersey in late August and early September.

Grants awarded through the program are provided in the form of reimbursement of August rent or mortgage payments.

To ensure grants reach businesses in the hardest hit communities, including communities of color, one-third of the funding available through the program is targeted to businesses with a primary business location within a census tract that was designated as eligible to be selected as an Opportunity Zone.

Applications for the Ida/Henri Business Assistance Grant Program were open from September 17th through September 24th. The NJEDA is currently reviewing all submitted applications and distributing funds to eligible businesses and organizations.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitter, Instagram, and LinkedIn.

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TRENTON, N.J. (September 8, 2021) – The New Jersey Economic Development Authority (NJEDA) announced the approval of the Henri/Ida Business Assistance Grant Program at a special meeting of its Board held earlier today.  The $10.5 million program will provide grants of $1,000 to $5,000 for businesses and non-profits that suffered physical damage from the effects of recent tropical storms Henri and Ida.

The approval follows Governor Phil Murphy’s announcement of preliminary details of the program last week. The NJEDA has been tasked with creating and administering the program, which will provide short-term, immediate rent/mortgage reimbursement support to New Jersey businesses and non-profits with up to 50 full-time equivalent employees that suffered physical damage from Tropical Storm Henri on August 22nd and 23rd, or from Tropical Storm Ida on September 1st, 2nd and 3rd, 2021.

More information about the Henri/Ida Business Assistance Grant Program is available at https://www.njeda.com/henri-ida-relief/.

“Countless New Jersey businesses endured the wrath of Tropical Storms Henri and Ida in recent weeks, and today’s action by the NJEDA’s Board will allow us to move swiftly to help those businesses in need,” said Governor Murphy. “Time is clearly of the essence and we are determined to get funds out to businesses and non-profits as quickly as possible.”

The Henri/Ida Grant Program is designed to assist businesses and non-profits impacted by tropical storms Henri and Ida. The Program will provide grants from $1,000 up to $5,000 to New Jersey-based small businesses and non-profits that have up to 50 full-time equivalent employees as reported on their last WR-30 form (Q2 2021) with the NJ Department of Labor and Workforce Development (DOL) and have a commercial location in the State that suffered physical damage as a result of tropical storms Henri and Ida. Of the $10.5 million available for the program, $10 million will be available for grants for businesses and non-profits impacted by Ida and $500,000 will be set aside for businesses and non-profits impacted by Henri.

Landlords and home-based businesses are not eligible for grant funding through this program. To be eligible, the applying entity must:

  • Provide certification of an unmet need due to damage and/or business interruption.
    • This includes, but is not limited to, flooding, interior or exterior damage to the building structure, roof damage, and siding damage, all of which are directly related to tropical storm Henri and Ida. Loss of power alone will not be considered physical damage.
  • Provide documentation of physical damage to the applicant’s physical commercial location.
  • Have been in operation on August 1, 2021.
  • Present a valid Employer Identification Number (EIN).
  • Submit recent wage reporting form (WR30), if applicable.
  • Submit evidence of an August rent/mortgage payment of at least $1,000 as well as have a need that is greater than $1,000.
  • Be registered to do business in the State of New Jersey, as evidenced by a valid Business Registration Certificate.
  • Be in good standing with the Department of Taxation and DOL, and if applicable, the Division of Alcoholic Beverage Control, the Department of Children and Families, and/or the Department of Human Services.
  • Complete an affidavit identifying all funding sources related to recovery from tropical storms Henri and Ida, including prior grants, insurance, and Small Business Administration loans and grants.
  • Comply with any additional requirements that may apply.

Grants will be provided in the form of reimbursement of August rent or mortgage ($1,000 minimum rent eligibility). To ensure grants reach businesses in the hardest hit communities, including communities of color, one-third of the $10 million in funding available through the program will be targeted to businesses with a primary business location within the 715 census tracts designated as eligible to be selected as an Opportunity Zone.

“The NJEDA shares Governor Murphy’s sense of urgency as we work to provide support to small businesses and non-profits dealing with the impact of Henri and Ida,” said NJEDA CEO Tim Sullivan. “The need for assistance is particularly dire, as these storms occurred just as New Jersey was emerging from the impact of the COVID-19 pandemic. It’s more critical than ever that we do our best to help impacted entities return to normal operations so they may continue their role as the economic drivers of New Jersey’s communities.”

The NJEDA has stressed to business owners and non-profit leaders the importance of thoroughly documenting all physical damage as they prepare to apply for assistance through this and any future programs, including taking clear photographs and saving receipts for repairs and associated materials.

Comprehensive information about the Henri/Ida Business Assistance Grant Program is available at https://www.njeda.com/henri-ida-relief/. The NJEDA expects to launch an online application for the program at 9:00 a.m. on Friday, September 17th at https://www.njeda.com/henri-ida-relief/. Applications will be reviewed on a first come, first served basis.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitter, Instagram, and LinkedIn.

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