Updates concerning the U.S. Small Business Administration’s economic aid programs available to eligible businesses…
Author: Rutgers Newark SBDC
N.J. drops $100 fee to certify as small, minority-, women- or veteran-owned business
In recognition of National Small Business Month, state Treasurer Elizabeth Maher Muoio announced that the $100 filing fee to become certified as a Small-, Minority-, Woman- or Veteran-Owned Business Enterprise is being waived indefinitely.
SBA PPP Loan Update
SBA is currently offering PPP loans originated only by participating community financial institutions including CDCs, SBA Microlenders, CDFIs, and MDIs…
SBA to Reopen Shuttered Venue Operators Grants for Applications on April 24 at 12:30 p.m. EDT
The U.S. Small Business Administration will reopen the Shuttered Venue Operators Grant application portal tomorrow, April 24, 2021, at 12:30 p.m. EDT…
SBA Announces Official Restaurant Revitalization Fund Application and Guidelines
SBA Administrator Isabella Casillas Guzman today announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RRF)…
Guide to Small Business COVID-19 Emergency Loans
What Small Businesses Need to Know About the New Pandemic Relief Package – Changes to PPP and More
NJEDA Receives USEDA Grant to Expand Small Business Emergency Assistance Loan Program
TRENTON, N.J. (September 1, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced a $10 million expansion of its Small Business Emergency Assistance Loan Program to help support small businesses and nonprofits impacted by the COVID-19 pandemic. The expanded program will be capitalized by a grant received from the United States Economic Development […]
New PPP Forgiveness Information (Updated 6/16/2020)
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. The loan forgiveness form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including: Options for borrowers to calculate payroll [...]
SBA Economic Injury Disaster Loans: Assistance for U.S. Businesses Affected by the COVID-19 Outbreak
The U.S. Small Business Administration (SBA) has set aside $50 billion in low-interest Economic Injury Disaster Loans (EIDL) for “on-going” small businesses affected by the Coronavirus. Individual businesses may apply for up to $2 million per loan. Please Note: The EIDL loans are not for a loss of income but to keep your businesses “afloat” […]
NJEDA Begins Expands its Micro Business Loan Program
On June 9, 2020, the NJEDA Board approved an expansion of the Micro Business Loan Program to provide support to a wider range of New Jersey micro businesses. The application for the expanded program is currently in development, and expected to be available in July 2020. NJEDA has suspended accepting applications for this program until […]
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The NJSBDC at Rutgers-Newark is funded (in part) through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.