$ 10.5 million grant program approved for recovery from tropical storms Henri and Ida

Provide grants of up to $ 5,000 to storm-affected businesses / nonprofits with up to 50 full-time equivalent employees

The New Jersey Economic Development Authority (NJEDA) announced the approval of the Henri / Ida Business Assistance Grant program at a special meeting of its board of directors. The $ 10.5 million program will provide grants of $ 1,000 to $ 5,000 for businesses and nonprofits that have suffered physical damage from the effects of recent tropical storms Henry and Ida.

The approval follows Gov. Phil Murphy’s announcement of preliminary program details last week. NJEDA has been tasked with creating and administering the program, which will provide immediate and short-term rent / mortgage repayment support to New Jersey businesses and nonprofits with up to 50 full-time equivalent employees. who suffered physical damage from Tropical Storm Henri. on August 22 and 23, or tropical storm Ida on September 1, 2 and 3.

More information on the Henri / Ida Business Assistance Grant program is available at https://www.njeda.com/henri-ida-relief/.

“Countless New Jersey businesses have been wracked by Tropical Storms Henry and Ida in recent weeks, and today’s action by the NJEDA Board of Directors will allow us to act quickly to help these businesses in the future. the need, ”Governor Murphy said. “Time is running out and we are determined to get funds to businesses and nonprofits as quickly as possible. “

The Henri / Ida Grants Program is designed to help businesses and nonprofits affected by Tropical Storms Henri and Ida. The program will provide grants ranging from $ 1,000 to $ 5,000 to small businesses and New Jersey-based nonprofits that have up to 50 full-time equivalent employees, as shown on their latest WR-30 form ( Q2 2021) with the NJ Department of Labor. and Workforce Development (DOL) and have a commercial location in the state that suffered physical damage from Tropical Storms Henri and Ida. Of the $ 10.5 million available for the program, $ 10 million will be available for grants for businesses and associations impacted by Ida and $ 500,000 will be reserved for businesses and associations impacted by Henri.

Homeowners and home businesses are not eligible for grants under this program. To be eligible, the applicant entity must:

  • Provide certification of an unmet need due to damage and / or business interruption.
    • This includes, but is not limited to, flooding, interior or exterior damage to the building structure, roof damage, and siding damage, all of which are directly related to Tropical Storm Henri and Ida. Loss of power alone will not be considered physical damage.
  • Provide documentation of physical damage to the applicant’s physical business location.
  • Were in service on August 1, 2021.
  • Present a valid Employer Identification Number (EIN).
  • Submit the recent salary declaration form (WR30), if applicable.
  • Submit proof of rent / mortgage payment of at least $ 1,000 in August and have a need greater than $ 1,000.
  • Be registered to do business in the state of New Jersey, as evidenced by a valid business registration certificate.
  • Be in good standing with the Department of Taxation and DOL and, where applicable, the Division of Alcohol Control, the Department of Children and Families and / or the Department of Social Services.
  • Complete an affidavit identifying all sources of funding related to recovery from Tropical Storms Henri and Ida, including previous grants, insurance, and Small Business Administration loans and grants.
  • Comply with any additional requirements that may apply.

Subsidies will be provided in the form of August rent repayment or a mortgage (minimum rent eligibility of $ 1,000). To ensure the grants reach businesses in the hardest-hit communities, including communities of color, one-third of the $ 10 million in funding available under the program will go to businesses with a primary business location in the 715 census tracts designated as eligible for selection as an area of ​​opportunity.

“NJEDA shares Governor Murphy’s sense of urgency as we work to provide support to small businesses and nonprofits facing the impact of Henry and Ida,” said the CEO of NJEDA, Tim Sullivan. “The need for assistance is particularly urgent, as these storms occurred just as New Jersey was emerging from the impact of the COVID-19 pandemic. It is more important than ever that we do our best to help impacted entities return to normal operations so that they can continue to play their role as economic engines of New Jersey communities.

NJEDA has stressed to business owners and nonprofit leaders the importance of thoroughly documenting all physical damage as they prepare to seek help with this and any future programs, including taking clear photographs and keeping receipts for repairs and associated materials.

Complete information on the Henri / Ida Business Assistance Grant program is available at https://www.njeda.com/henri-ida-relief/. The NJEDA plans to launch an online application for the program at 9:00 a.m. on Friday, September 17 at https://www.njeda.com/henri-ida-relief/. Applications will be reviewed on a first come, first served basis.

To access more business news, visit NJB News Now.

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