New Jersey Governor, Phil Murphy, has announced a new rent relief grant opportunity, The Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP). Through this grant, small business owners in 64 municipalities will be able to apply for a grant of up to $10,000 to help cover lease payments amid the COVID-19 pandemic. $6 million of federal CARES Act funding will be allocated to this program. This grant program is managed by the NJRA and is only one part of a series of COVID-19 relief opportunities coming soon named the “Commercial Corridors Relief Package”.
The grant is targeted to businesses with 5,000 or less square feet of leased space. Businesses applying will need to provide standard debarment and legal qualifications.
The application portal opens on August 10, 2020 at 9:00am and will be processed on a first-come, first-served basis. For more information, visit the New Jersey Redevelopment Authority website, click here.
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