The New Jersey Economic Development Authority announced Wednesday the first approvals under the $10.5 million Ida/Henri Business Assistance Grant Program.
Created in early September to support communities that were impacted by the remnants of Hurricanes Ida and Henri, the program is awarding grants of $1,000-$5,000 to businesses and nonprofits that were damaged by the extreme weather that passed through the state in late August and early September.
Grants awarded through the program are provided in the form of reimbursement of August rent or mortgage payments.
The NJEDA anticipates approving relief awards for hundreds of additional businesses and nonprofits in the coming weeks. The program no longer is accepting applications.
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“The damage caused by the remnants of Hurricanes Ida and Henri was a tragic and unexpected challenge for communities that were rebounding strongly in the wake of COVID-19,” EDA CEO Tim Sullivan said.
“The Ida/Henri Business Assistance Grant Program is providing much-needed immediate support to help businesses and nonprofits rebuild, and the NJEDA is working closely with Gov. (Phil) Murphy to provide additional resources to support his vision for a stronger, fairer recovery.”
To ensure grants reach businesses in the hardest-hit communities, including communities of color, one-third of the funding available through the program is targeted to businesses with a primary business location within a census tract that was designated as eligible to be selected as an Opportunity Zone.