Governor Phil Murphy today announced a new relief program for small businesses impacted by the COVID-19 pandemic.
The Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP) will allow businesses in 64 eligible municipalities to apply for grants of up to $10,000 for lease costs.
The program will assist small business owners impacted by the COVID-19 pandemic, which also assists landlords, many of whom are also small businesses.
“We are committed to helping small businesses across our state survive this unprecedented crisis,”said Governor Murphy in a press statement.“A stronger and fairer New Jersey starts from the bottom up. The Small Business Lease – Emergency Assistance Grant Program will infuse much needed funding into local economies by assisting both small businesses and the landlords that they rent from.”
The SBL-EAGP, managed by the New Jersey Redevelopment Authority (NJRA), is the first component of a broader Main Street Commercial Corridors Relief Package to be paid for with federal CARES Act funding. Through the SBL-EAGP, small businesses located in NJRA’s 64 eligible municipalities that have been adversely impacted by COVID-19 will be able to apply for up to $10,000 to assist with lease payments. It will provide grants to:
- Tenants leasing commercial space in mixed-use buildings
- Tenants leasing space in commercial buildings
- Tenants leasing space to operate a storefront business
The program will be targeted to businesses with 5,000 square feet of leased space or less, and is requiring standard debarment and legal qualifications from applying businesses.
Applications will open August 10, 2020, online, and funds will be distributed on a first-come-first-served basis.
Click here to learn more about SBL-EAGP.