New Jersey Business Coalition Urges for State and Federal Support
The Greater Atlantic City Chamber as a member of the New Jersey Business Coalition, along with dozens of leaders of major business associations, penned two letters this week seeking continued support for recovery efforts. One letter was sent to Governor Muprhy and the New Jersey Legislature that addressed several important legislative priorities that could provide […]
NJEDA Announces $10 Million Second Phase of its Small Business Emergency Assistance Loan Program
The New Jersey Economic Development Authority (NJEDA) today 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 10, 2021. The $10 million program expansion will support New Jersey small businesses and nonprofits impacted by the COVID-19 pandemic and will be capitalized […]
GOPAL, SWEENEY BILL TO ALLOW COUNTY-BASED PLANS FOR COVID-19 RE-OPENINGS PASSES COMMITTEE
In response to statewide guidelines requiring businesses to close or reduce operations due to the COVID-19 pandemic, the Senate Commerce Committee today advanced legislation sponsored by Senator Vin Gopal and Senate President Steve Sweeney which would establish a county-based mitigation plan to allow businesses to operate during a pandemic. “While New Jersey has been hit […]
Ørsted Pro-NJ Grantor Trust launches with expressions of interest accepted beginning February 1
Today, the Trustees of Ørsted’s Pro-NJ Grantor Trust Fund announced details of the fund and the process to apply. The $15 million fund was established by Ørsted following the selection of its Ocean Wind offshore wind farm project by the New Jersey Board of Public Utilities in June 2019, with the goal of ensuring that […]
Additional PPP Guidance and Resources: How to Calculate Maximum Loan Amounts for First Draw
SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources: How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type (Released 1/17/2021) SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources: Procedural Notice – PPP Borrower […]
SENATE COMMITTEE ACTS ON SWEENEY-SINGLETON BILL TO UPGRADE WATER & VENTILATION SYSTEMS
A Senate committee today approved a bill sponsored by Senate President Steve Sweeney and Senator Troy Singleton that would help schools and small businesses in New Jersey upgrade their water and ventilation systems to better protect the health of students, educators, customers and workers. The bill, S3033, would establish the School & Small Business Energy […]
SBA Re-Opening Paycheck Protection Program to Small Lenders Today and All Lenders on Tuesday, January 19
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 am ET. The portal will fully open on Tuesday, January 19, 2021 […]
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January […]
Governor Murphy Signs Historic Economic Recovery Legislation
Governor Phil Murphy today signed into law the landmark New Jersey Economic Recovery Act of 2020, which will provide economic support for small businesses, while propelling New Jersey’s economic recovery and growth for much of the next decade. “These programs are the product of nearly three years of hard work, during which we received input […]
NJEDA Extends PPE Access Program Deadline to December 17, 2020
In response to significant demand for support through the program, the New Jersey Economic Development Authority (NJEDA) today announced that the deadline for companies to receive nearly 70 percent discounts on purchases of personal protective equipment (PPE) through the NJ Small and Micro Business PPE Access Program has been extended one week to Thursday, December 17th, 2020. To […]