Hoboken awarding $1.82M in grants to small businesses

Hoboken Mayor Ravi Bhalla announced Tuesday that 179 local small businesses negatively impacted by the COVID-19 pandemic will share in $1.82 million in grant funding.

Qualifying businesses that applied to the city’s Small Business Grant Program will receive an average of $9,800 through funding allocated to the city from the American Rescue Plan. And, of the 179 businesses that will be awarded grant funding, 115 also will receive a $1,500 vaccine bonus as 75% of their employees are fully vaccinated.

Which businesses are getting awards is not yet known.

Hoboken officials said the city will make award notifications by the end of this week and begin distributing funds next week via wire transfers and checks. The list of businesses receiving awards would be released on the city’s website in the coming weeks, city officials said.

“We are continuing to support our small business community during the ongoing pandemic,” Bhalla said“This grant funding will provide additional relief that will help ensure that our mom-and-pop shops remain open, adding vibrancy to our ‘mile square.’

“I thank the businesses and their employees who also heeded the call to get vaccinated. Together, we can reduce the spread of COVID-19 and find a path out of this pandemic.”

Businesses can use the funding for COVID-related expenses incurred between Sept. 1, 2020, and July 28 of this year. The possible uses include employee salaries, mortgage payments, business loan payments, equipment leases or finance payments and utilities.