What financial assistance programs can help NJ small business owners?
The State recognizes that the coronavirus outbreak is causing difficulty for many members of our business community. Several State agencies are currently engaging with local business leaders, local financial institutions, and business advocacy groups to better understand what supports would be most impactful to ensure business and employment continuity.
The New Jersey Economic Development Authority (NJEDA) has a portfolio of loan, financing, and technical assistance programs available to support small and medium-sized businesses. In addition to the millions of dollars in funding NJEDA administers as loans and loan guarantees to New Jersey small businesses, the agency EDA also partners with several organizations that provide a wide array of services to New Jersey small businesses and entrepreneurs.
Speaking with an NJEDA team member may be helpful in understanding what resources may be available to address your business needs. Call 609-858-6767.
Did You Know?
Bielat Santore & Company makes available financial spreadsheet to help restaurants compute capital needs. Restaurants who have served the public as the great social gathering places are now temporarily out of business in order to help curtail the spread of the coronavirus. A crisis of this scale has never hit the restaurant business so hard before. Unchartered territory for most restauranteurs, their needs go beyond keeping their restaurants afloat, but being able to take care of their families. In order to fight another day, restaurants are going to need cooperation from vendors, moratoriums on mortgage payments, eviction protection and an infusion of capital.
“We are looking to help all of our clients, the majority who are restauranteurs and those within the hospitality industry in any way we can,” states Barry Bielat, President of Bielat Santore & Company. “Today we are making available to our clientele a spreadsheet to help compute what capital needs will be for the next 90 days and 180 days, in order to provide a clearer picture of the capital they may need to get through this crisis and reopen when it ends.”
Employee Tip
Who is hiring during the coronavirus? If you are temporarily unemployed, try these industries if you are looking for work. Shipping and delivery companies, online learning companies, grocery stores and delivery services, remote meeting and communication companies, landscaping and lawn service companies, spring clean-up and power washing companies and working families.
