Jersey City Mayor Steve Fulop and Hudson County Executive Tom DeGise announced Thursday that small businesses in Jersey City can apply for grants of $20,000 to be used for relief from the COVID-19 pandemic’s economic fallout.
The grants must be used for salary expenses, rent or mortgage expenses, equipment leases, finance payments, loan payments and utility payments incurred since March.
Any Jersey City-based for-profit business that is in good standing and has 25 or fewer employees — whether it its home-based, mobile or brick-and-mortar — is eligible. Businesses do not need to currently be open to apply.
Applications, which will be processed by the Jersey City Economic Development Corp., will be available starting July 16 on the JCEDC website.
The grant money will come from the nearly $7 million the city received from Hudson County as part of the $117 million the county was allocated through the CARES Act.
Fulop said the grants are another example of how the city is working to help small businesses.
“Throughout this crisis, we have worked on the city level to prepare for the post-pandemic aftermath by expanding various city resources and services, and this federal aid will bolster those efforts to ensure our residents and businesses can get back on their feet as swiftly as possible,” Fulop said in a release.
“We’re grateful to the county and for our congressional delegation who fought for this money that will allow our business owners to hire back local employees, pay outstanding expenses and retain employees to stimulate and strengthen our local economy as we work to rebuild and strong and resilient foundation.”
DeGise said the money will be critical to the survival of many of small businesses.
“Jersey City is the largest municipality in our county, with hundreds of business owners who will greatly benefit from this financial boost during the most challenging of times,” he said. “We’re encouraged by the work already underway, and will continue to work with our municipalities to further foster recovery efforts.”
Requirements to apply:
- Must be based in Jersey City and can be a home-based business.
- Must be in good standing with federal and state government regarding taxes, current registrations.
- Does not need to be currently open.
- Documentation proving the expenses must be attached to the application.
- Must be a for-profit business.
U.S. Rep. Albio Sires (D-8th Dist.) said the funding is vital.
“The funding that Jersey City is receiving is a much-needed federal support as we continue to respond to the COVID-19 pandemic,” he said. “As Congress continues to craft response legislation, I will fight for our community to receive the assistance it needs to recover.”