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Legal Alert: NJ Economic Development Authority (NJEDA) - Small Business Emergency Assistance Grant Program

As part of the NJEDA's COVID-19 Economic Relief Package, NJEDA has developed the Small Business Emergency Assistance Grant Program, which will provide operating expense grants of up to $5,000.00 to qualified small businesses. The following is what you should know if you are considering applying for the grant program.

Where to Apply: The application will be available at https://cv.business.nj.gov.

Application Window: The application period begins on April 3, 2020 at 9:00 a.m.The application window closes on April 10, 2020 at 9:00 a.m.

Eligibility: In order to qualify for the grant, your small business must meet the following requirements:

The business must be in one of the following industries, as determined by your North American Industry Classification System ("NAICS") code:

  • Retail
  • Accommodation & Food Service
  • Arts, Entertainment & Recreation, Repair & Maintenance

  • Personal & Laundry Services - these include, by example, dry cleaning and laundry services (except coin operated), color consulting services, barber shops, beauty salons, nail salons, diet and weight reducing centers, and funeral homes and funeral services.  (Specifically includes NAICS codes that start with 44, 46, 71, 72, 811, 812 – for more information visit: https://www.naics.com/search/

*To determine your businesses NAICS code, refer to your Employment Identification Number ("EIN") Certificate.  If you cannot locate your EIN Certificate, your accountant may have the information in their records.

*A non-profit entity within one of the above-referenced industries may also receive the grant if they have one of the following designations: 501(c)(3), 501(c)(4), and 501(c)(7)

*The NJDEA list the following as prohibited businesses: "gambling or gaming activities; the conduct or purveyance of "adult" (i.e., pornographic, lewd, prurient, obscene or otherwise similarly disreputable) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices); any auction or bankruptcy or fire or "lost-our-lease" or "going-out-of-business" or similar sale; sales by transient merchants, Christmas tree sales or other outdoor storage; any activity constituting a nuisance; or any illegal purposes." https://www.njeda.com/Press-Room/News-Articles/News-Articles/NOFA-Small-Business-Emergency-Assistance-Grant-Pro;

  • Certify the negative impact of emergency (for example – business has been temporarily shut down, has been required to reduce hours, has had at least a 20% drop in revenue, has been materially impacted by employees who cannot work due to the outbreak, or has a supply chain that has been materially disrupted and therefore slowed firm-level production);
  • Physical commercial location in New Jersey (home offices do not qualify);
  • Registered to do business in New Jersey;
  • Certify that the business has a material financial need that cannot be overcome with the grant funds;
  • In good standing with the Department of Labor;
  • 1-10 Full Time Employees per the business' 2019 4th Quarter NJ-WR30 filing with the Department of Labor (non-employee companies, holding companies, and companies that utilize 1099 employees and larger firms are not eligible); and
  • Must fill out and certify simplified debarment legal questionnaire (questions will include confirmation about prior convictions, license or permit denial or revocations, public debarment, breaking the terms of an agreement with a public agency, any injunction orders in favor of a government agency, ongoing criminal or civil proceedings).

Information Needed for Application: Information needed to complete the application will include the following:

  • Applicant's Name
  • Company Name (and DBA if applicable)
  • Email
  • Business Address
  • Entity Type (i.e. Corporation, LLC, ect.)
  • EIN
  • Year Established
  • Sector
  • Number of Full Time Employees/Part Time Employees (as of December 31, 2019)
  • Your NAICS code

Grant Amounts: The NJEDA will provide up to $1,000.00 per each Full Time Employee equivalent, with a maximum of $5,000.00 per EIN.Grants will be calculated based on the Full Time Employees reported on the business' most recent WR-30 filed with the NJ Department of Labor and Workforce Development.In the event your business has more than one EIN and multiple locations, the business can submit one application per EIN.The NJEDA has developed a Grant Size Estimator that may be a helpful tool in determining the potential amount of the grant.The estimator can be accessed at the following website: https://forms.business.nj.gov/grant-size/.

Other Useful Tool: The NJEDA has created a Business Support Eligibility Wizard to determine whether you might qualify for the grant and other relief programs resulting from COVID-19.You can access the wizard at the following website: https://assistance.business.nj.gov/.

Applications will be accepted on a first-come, first-served basis, based on the time a completed application is received online.There is no fee to apply for the grant.In the event your business does not qualify for the grant, your business may qualify for other relief programs.Reach out to Nehmad Perillo Davis & Goldstein, PC with questions and make sure you check our website for updates.
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