Newark Mayor Ras Baraka announced Wednesday that the city is accepting applications for a second round of grants to small businesses and microenterprises — focused on home-based small businesses impacted by the pandemic.
This round will provide working capital grants in amounts up to $10,000 to qualifying home-based small businesses in Newark and can be utilized for accounts payable, payroll, inventory, equipment, business compliance, licensing renewal, utilities, business capacity, legal, financial services, rent, insurance, business taxes, supplies or most business-related items, subject to funding availability.
The Newark Economic & Housing Development Department is working in partnership with United Way of Greater Newark as sponsor, coordinating partner and grant administrator for this initiative. Invest Newark is serving as coordinating partner while Prudential is a sponsor.
The deadline to apply is July 13. For more information, click here.
To apply, click here.
“Newark’s small businesses have been extremely impacted by COVID-19,” Baraka said in a statement. “Home-based small businesses have been particularly hard-hit, yet have had fewer sources of emergency aid. So, in this second round of small business grants, we are seeking to ensure the survival of businesses that residents have established in their own homes.”
Local small business owners may be eligible to apply by meeting the following conditions, including having a home-based business with a physical establishment located in Newark; having 10 employees or less; evidence of direct loss or losses due to COVID-19; providing state or federal corporate registration or licenses, among other qualifications.
First-time users will have to complete the registration process and create an account to access the application. If selected, grant recipients will receive funding within 15 days of approval. Decisions are based on eligibility, criteria met and availability of funding. If you have technical issues with the application, contact email@example.com.
United Way of Greater Newark CEO Catherine Wilson said her group is eager to help coordinate another round of funding.
“While the coronavirus pandemic continues to significantly impact local small business owners and hardworking Newark residents, this funding will help offset some of the financial burdens and help business owners as they get back on their feet,” she said.
The fund earmarked $2 million earmarked for the small business grants program. The first round awarded a total of $947,468 to 105 Newark small businesses.
Those businesses employ hundreds of workers and represent a cross-section of Newark’s small business community from all five wards including food and eating establishments, nightlife, technical and business services, printing, trucking, contracting, haircutting and more.
A list of the first round of awardees is below.