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Business
Newark Invests $2 Million In $100 Million Fund to Support Black and Latinx Businesses
Mayor Ras J. Baraka announced that the Newark Municipal Council voted yesterday to invest $2 million in the New Jersey 40 Acres and a Mule Fund (NJ FAM Fund). It is an investment fund targeted to reduce the wealth, health and social disparities that exist with Black and Latinx communities when compared to the general population. This first-in-the-nation investment vehicle makes equity and debt investments in Black and Latinx businesses in New Jersey. The $2 million contribution is earmarked specifically for Newark investments.
Grant Opportunity
You can still apply for NJEDA’s Small Business Improvement Grant! Grant provides reimbursement for building improvement costs or purchasing new furniture, fixtures and equipment. Applications accepted on a rolling basis until funds are exhausted.
More info here: https://lnkd.in/eUyTJzXe
New Jersey Economic Development Authority (NJEDA)
Pre-Registration is NOW open for the NJEDA’s Phase 2 of the Small Business Emergency Assistance Loan Program
You may be eligible to receive up to $100k in loans! via the NJEDA for their phase 02 the Small Business Emergency Assistance Loan Program. We are thrilled to partner again with The New Jersey Economic Development Authority to help small businesses who are still struggling due to the COVID-19 pandemic.
NJEDA supplies $3.5 million of $10 million in funds to businesses located in the eligible NJ Opportunity Zone census, companies must be in existence must be in existence by August 3rd, 2021.
| AMOUNT PER BUSINESS/ENTITY Up to $100,000 | LOAN TERMS 0% interest rate 10 year term 24-month deferral |
South Ward SID wishes you the best during this pandemic, we will continue to provide you with information and resources for your betterment. If the above program applies to you take advantage of this opportunity, any questions related to the Small Business Emergency Assistance Loan Program should be directed to 844-965-1125
You must pre-register from July 20th- July 30th to be eligible.
APPLICATION OPENS… Phase 4 of the Small Business Emergency Assistance Grant Program
Hello South Ward,
I hope all is well. I just wanted to make you aware and hope that will apply and/or share that the New Jersey Economic Development Authority (NJEDA) is reopening applications for grants for small businesses impacted by the COVID-19 pandemic through Phase 4 of the Small Business Emergency Assistance Grant Program. This round of funding will provide grants up to $20,000 to small and medium sized businesses and non-profits that have been negatively impacted by COVID-19.
Click here to learn more about Phase 4 grants.
In order to apply for a grant, you must pre-register between Wednesday, May 26th at 9:00 a.m. and Wednesday, June 30th at 5:00 p.m. Interested business owners who did not SUBMIT a pre-registration in April need to pre-register at programs.njeda.com.
Business owners who submitted a pre-registration in April, but did not apply, do not need to pre-register again. Pre-registration IS NOT first come, first served, but businesses are encouraged to begin the process as early as possible.BUSINESSES THAT DO NOT PRE-REGISTER WILL NOT BE ELIGIBLE TO APPLY FOR PHASE 4 GRANTS.
Applications will become available in July, following the pre-registration period. Pre-registration and the application will be available in English and Spanish. The NJEDA is also offering interpretation services to support speakers of ten additional languages: Arabic, Chinese (Mandarin and Cantonese), Gujarati, Hindi, Italian, Korean, Polish, Portuguese, and Tagalog.
Questions? Please call 844-965-1125”
Stay Healthy… Think of Others… Support Local Businesses