The New Jersey Economic Development Authority has approved 6,168 nonprofits and businesses for more than $74 million in funding through Phase 4 of its Small Business Emergency Assistance Grant Program, the organization said Tuesday.
The numbers, as of Tuesday morning, are increasing on a daily basis as the EDA continues to process the nearly 30,000 applications it received.
The EDA has $285 million in grant money available: $85 million from the original announcement of Phase 4 in May, plus an additional $200 million that was added to the pot last month.
All of the grantees so far have been given awards from the original $85 million total.
Here’s a closer look at the distribution of Phase 4 grants, as of Tuesday morning:
- 427 child-care providers have been approved for nearly $6.2 million;
- 2,459 microbusinesses have been approved for nearly $23.9 million;
- 2,332 restaurants and bars have been approved for nearly $30 million;
- 950 small businesses have been approved for nearly $14.3 million.
And EDA spokesperson said more than one-third of Phase 4 approvals have been for businesses that self-identify as minority-, woman-, disabled- or veteran-owned.
EDA officials said the $200 million in additional funds announced by Gov. Phil Murphy last month will continue to support the most adversely affected businesses in New Jersey, including $20 million for bars and restaurants, $120 million for microbusinesses, $10 million for child care providers, as well as $50 million for other small businesses and nonprofits with up to 50 full-time equivalent employees.
“We are currently working on processing the grant applications that are in process, supported by the $285 million allocated for the grant program,” the spokesperson said. “We continue to work with the legislature to assess and address the needs of New Jersey small businesses and nonprofit entities to ensure a robust recovery.”