Governor Phil Murphy today signed legislation (S-3982) providing additional aid to small businesses as New Jersey continues to provide support to small businesses as they recover from the pandemic. The bill provides $135 million to small businesses throughout the state and will be administered by the Economic Development Authority as part of its Phase IV Emergency Grant Program and NJ Community Stage Relief Grant Program.
The bulk of the funding will be administered by the NJEDA, and will help fund all eligible Phase IV applications. To date, the EDA has allocated more than $650 million in aid to tens of thousands of small businesses across the state.
The breakdown of the $135 million in today’s legislation is as follows:
- Microbusinesses: $55 million
- Bars and Restaurants: $15 million
- Child Care Facilities: $10 million
- For Profit Arts and Culture Organizations: $10 million
- Eligible Small Businesses and Non Profit Organizations: $45 million
To read complete legislation, please visit here