Programs available to help businesses:
PSE&G is committed to partnering with our small business customers to remain their trusted energy provider. To fulfill that expectation, we are raising awareness about new resources available to support our business customers that have been impacted by the pandemic.
Small businesses and nonprofits that have experienced hardships may be eligible to apply for new grants recently approved by Gov. Phil Murphy to help provide relief and bolster New Jersey’s economy.
The $85 million in grants, including those funded by a federal stimulus package, will be available in May 2021 through the New Jersey Economic Development Authority, which encourages pre-registration. Grants include: $25 million for microbusinesses of five or fewer employees; $15 million for small businesses of six to 50 employees; $10 million for child care centers; and, $35 million for eating/drinking establishments.
After 13 months of COVID-19 protocols, we at PSE&G understand that many small businesses and nonprofits are struggling. These federal and state funds may provide needed lifelines to help stabilize this vital component of our economy. We encourage small business owners and nonprofit leaders to apply for this available assistance as soon as possible.
New Jersey has other programs available to help businesses, including an eligibility wizard, details of which can be found here. The Paycheck Protection Program, which provides loans with a possibility of loan forgiveness, to small businesses, including sole proprietors and freelancers, recently extended its deadline to May 31.
“New Jersey’s small businesses were particularly hard hit by the ravages of COVID-19,” Gov. Phil Murphy said in a statement about the grants specifically designated for small businesses and nonprofits. “This legislation, along with three additional bills I signed last week and one I will sign in the near future, will go a long way toward helping hundreds of state businesses keep their doors open as we recover from this year-long ordeal.”
To date, Murphy said, the NJEDA has provided more than $250 million in aid to some 55,000 New Jersey businesses.
”It’s critical that as many impacted small and mid-sized businesses as possible are aware of, and can access, NJEDA’s Small Business Emergency Assistance Grant Program,” said Michele Siekerka, president & CEO of the New Jersey Business & Industry Association. “We thank PSE&G for joining the call to raise awareness for this much-needed assistance and for being an essential partner with New Jersey’s business community.”