Small Business

N.J. adds $15M to Small Business Emergency Grant program

Tom Bergeron | ROI-NJ

EDA says money will enable it to distribute grants to more companies — filling more requests in oversubscribed program The state has added another $15 million of CARES Act funding to the Small Business Emergency Assistance Grant Program being administered by the Economic Development Authority, Gov. Phil Murphy announced Tuesday. The funding will be added to phase 2 of the program …

NJEDA Has Assisted More than 10K Small Businesses Impacted by COVID-19

New Jersey Business Magazine

The New Jersey Economic Development Authority (NJEDA) today announced that the Authority’s COVID-19 response efforts have supported more than 10,000 businesses since March 2020. In total, the Authority has provided more than $44.2 million in support to 10,624 businesses through grants, low-cost loans, and partnerships with investors and Community Development Financial Institutions (CDFIs). “These programs have provided a vital lifeline …

NJEDA approves $12M in investments through Angel Investor Tax Credit program

Emily Bader | ROI-NJ

In the first half of 2020, 14 businesses in New Jersey’s technology, life sciences and clean energy sectors were selected to receive a combined $12.3 million from 50 investments approved through the New Jersey Economic Development Authority’s Angel Investor Tax Credit Program. The Angel Investor Tax Credit Program provides investors refundable tax credits against qualified investments for New Jersey businesses. It supports …

EDA’s Entrepreneur Support Program awards $700K to 5 small businesses

Emily Bader | ROI-NJ.COM

The New Jersey Economic Development Authority announced on Friday it has supported 12 investments totaling $700,000 into five small businesses through the newly-established New Jersey Entrepreneur Support Program. The $5 million program was designed to support small businesses in New Jersey that have been impacted by COVID-19 by encouraging portfolio reinvestment. It provides an EDA guarantee of up to 80% for an …

Digitalundivided maintains focus on empowering Black, Latinx entrepreneurs

Anastasia Bergeron | ROI-NJ.COM

Farah Allen remembers feeling stuck. “I had my company in the market for a year,” she said. “I knew how to make technology and resource teams, but I didn’t know how to run a business.” As a Black female entrepreneur, she ran into the same problems whenever she sought help from entrepreneurship groups: “No one there looked like me. And …

NJ to enter Stage II of restart and recovery on June 15

Daniel J. Munoz | NJBiz.com

Gov. Phil Murphy said he’ll allow restaurants to reopen for outdoor dining and “non-essential” retail to allow indoor customers with 50 percent capacity, starting on June 15. That comes as the state begins rolling back many of the restrictions meant to stop the spread of COVID-19, and the pandemic slows down across the state. Personal care operations, such as salons …

EDA’s $50M small business grant program will set aside $15M for firms in Opportunity Zones

Tom Bergeron | ROI NJ

The $50 million Small Business Emergency Assistance Grant Program that will be formally approved by the New Jersey Economic Development Authority on Friday morning will set aside $15 million specifically for companies located in Opportunity Zones, ROI-NJ has learned. The set-aside is a way the program, which is an expanded version of the $5 million program the EDA offered in April, has …

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