July 23, 2020
Edwin J. Torres/New Jersey Office of the Governor
New Jersey is using $6 million in federal funding to help small businesses pay their rent, Gov. Phil Murphy announced.
Some small businesses in New Jersey that have been adversely impacted by the coronavirus pandemic may be eligible for grants of up to $10,000 to help cover lease costs.
A new rent relief program will distribute roughly $6 million to small businesses located in 64 municipalities that have been significantly affected by COVID-19, Gov. Phil Murphy announced Thursday.
The eligible locations include Atlantic City, Camden, Burlington and Glassboro. The full list of qualifying municipalities can be accessed here.
The Small Business Lease – Emergency Assistance Grant Program will be operated by the New Jersey Redevelopment Authority. Its funding stems from the federal CARES Act.
The program is geared toward businesses with no more than 5,000 square feet of leased commercial space. Applicants must meet one of the three thresholds to qualify for funding:
• Tenants leasing commercial space in mixed-use buildings
• Tenants leasing space in commercial buildings
• Tenants leasing space to operate a storefront business
Applications for the program will open online on Aug. 10. Funds will be distributed on a first come, first served basis.
The program is the first component of a broader initiative called the Main Street Commercial Corridors Relief Package, Murphy said.
"We are committed to helping small businesses across our state survive this unprecedented crisis," Murphy said. "A stronger and fairer New Jersey starts from the bottom up. The Small Business Lease – Emergency Assistance Grant Program will infuse much needed funding into local economies by assisting both small businesses and the landlords that they rent from."
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