SBA has made nearly $10B in loans to N.J. businesses

Businesses in New Jersey have now received nearly $10 billion in low-interest federal loans through various Economic Injury Disaster Loan programs, the Small Business Administration announced Tuesday.

The large majority of the funding came through the COVID EIDL Program. Here are the totals, as of Aug. 19:

  • EIDL: 128,198 loans for $9,720,422,995;
  • Targeted EIDL Advances: 11,885 for $101,059,000;
  • Supplemental Targeted Advances: 9,243 for $42,215,000.

The SBA also announced the Shuttered Venue Operator Grant program has given awards totaling $146,037,240 to 234 New Jersey organizations.