$275M In COVID Relief Funds Coming To NJ: Here's Who's Eligible

NEW JERSEY – The Garden State is ponying up $235 million in funding for small business relief and $40 million in funding for an excluded residents fund to assist those negatively impacted by the COVID-19 pandemic, according to Governor Phil Murphy.

The new small business funding, proposed by the Governor’s Office and agreed upon by legislative leadership, will fulfill existing Phase IV small business grant requests made to the New Jersey Economic Development Authority (EDA), while the new direct cash assistance program will help New Jerseyans in need who have been excluded from previous rounds of COVID relief.

Additionally, as part of the small business relief agreement between the Governor’s Office and Legislative leadership, EDA will extend Phase IV and begin accepting applications from businesses that missed the previous small business relief program deadlines last month.

“COVID-19 has created unimaginable challenges for our economy over the past year,” Murphy said. “As we emerge from this pandemic, we need to make targeted investments in both our small businesses and our workforce to lay the foundation for a stronger and fairer future that works for everyone.”

Small Business Relief

To date, the EDA has distributed more than $250 million in aid to some 55,000 businesses across the state. The breakdown of the $235 million in proposed small business funding is as follows:

• Microbusinesses: $120 million
• Bars and Restaurants: $20 million
• Child Care Facilities: $10 million
• New Businesses and Start-Ups: $25 million
• Sustain and Serve: $10 million
• Other Small Businesses and non-profits: $50 million

Excluded New Jerseyans Fund

Murphy said he will also allocate $40 million in federal Coronavirus Relief Fund (CRF) funds for New Jerseyans who have previously been ineligible for federal assistance, including Individual Taxpayer Identification Number holders and others previously excluded from COVID relief assistance such as federal stimulus checks or unemployment insurance.

The Excluded New Jerseyans Fund will provide a one-time cash assistance benefit of up to $2,000 to households with incomes up to $55,000 that can demonstrate they have suffered economic hardship due to COVID-19.

The program will begin accepting applications in the coming months.

Patch will have more information on how to apply when it becomes available.

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