May 27, 2020 | Posted in:

NJEDA Announces Second Round of Grant Funding

[Updated June 5, 2020.] The NJEDA Has Announced Phase 2 of The Small Business Emergency Assistance Grant Program

The New Jersey Economic Development Authority (NJEDA) has announced a second wave of small business funding. The second round provides increased flexibility in the businesses that can apply. The $50 million grant will be funded federally through the CARES Act to provide relief to New Jersey businesses affected by the COVID-19 pandemic.

What You Need to Know

The second phase of funding for the NJEDA grant now allows both sole proprietorships and home-based businesses to be eligible. Also, 501(c)(3), 501(c)(4), 501(c)(6), and 501(c)(7) non-profit organizations are now eligible.

The first $5 million will go to businesses on the waitlist from phase one. This leaves $45 million for new applicants, of which $15 million is set aside for businesses in Opportunity Zone-eligible census tracts.

Some other important information to know about the funding include:

  • The minimum grant amount per application is $1,000.
  • The maximum grant amount per application is $10,000.
  • The business can have up to 25 employees (increased from 10 employees in round 1).
  • The business must be in good standing with the NJ Department of Labor.
  • The business cannot have outstanding tax liabilities.

Sample application forms and requirements are available here. The applications will go live on Tuesday, June 9, 2020, at 9:00AM. Applications will be reviewed on a first-come, first-served basis.

One-Pager from NJEDA


South Jersey Non-Profit Grant Opportunity

The Non-Profit Development Center of Southern New Jersey is offering grants to help non-profit organizations in need of assistance. The organization is contributing three, one-time $500 grants to eligible Southern New Jersey non-profit organizations.

Click here to apply →

Contact Us

Please contact your Alloy Silverstein accountant and advisor if you have any questions or concerns. You may also email


COVID-19 Resource Center from Alloy Silverstein CPA Firm Accountants and Advisors NJ



Empowering business owners and individuals in South Jersey and Philadelphia to feel confident through proactive accounting and advisory solutions.

About Us →    Our Solutions →    Follow @AlloyCPAs on Twitter →