New Jersey Economic Development Authority (NJEDA) Announces $10 Million Second Phase of its Small Business Emergency Assistance Loan Program
NJEDA announced it will open pre-registration for Phase 2 of its Small Business Emergency Assistance Loan Program at 9:00 a.m. EST on Wednesday, February 10th. The $10 million program expansion will support New Jersey small businesses and nonprofits impacted by the COVID-19 pandemic and will be capitalized by a United States Economic Development Administration (USEDA) Coronavirus Aid, Relief, and Economic Security (CARES) Act appropriation. Any business or entity that intends to apply for a loan must first pre-register during this pre-registration period, which will run from 9:00 a.m. EST on February 10th to 5:00 p.m. on February 22nd.
Applicants MUST pre-register in order to apply for the Small Business Emergency Assistance Loan Program. Pre-registration for the Small Business Emergency Assistance Loan Program will open at 9:00 a.m. on February 10th on the New Jersey COVID Business Information Portal and will remain open until 5:00 p.m. on February 22nd. Only entities that pre-register will then be able to access the program application beginning 9:00 a.m. February 24th. The order in which final applications are received may affect funding availability, as referenced above.