TRENTON, N.J. (WCBS 880) — Gov. Phil Murphy on Friday announced a new rent relief program for small businesses and non-profits devastated by Hurricane Ida.
A total of $10 million in state grants will be available to businesses and non-profits with up to 50 employees, whose locations sustained damage from the storm or flooding.
Each business will be eligible to receive up to $5,000 in grant money.
“As with any emergency situation, our top priority is the health and safety of New Jerseyans, and we extend our deepest condolences to those families experiencing the loss or grave injury of a loved one,” said Gov.
Murphy. “Now that the skies have cleared, we are eager to get to work on helping those who are waking up to harsh economic realities reclaim their livelihoods and mitigate Ida’s financial impacts to their businesses and the hardworking people they employ.”
Landlords and home-based businesses are not eligible for grant funding through this program, which is being run by the state’s Economic Development Authority (NJEDA).
“NJEDA staff is prepared, under Governor Murphy’s leadership, to act quickly to assist businesses experiencing the destructiveness of Ida, with the continued agility and dedication that has enabled us to provide more than 80,000 grants and loans through our COVID-19 programs,” said NJEDA CEO Tim Sullivan.
To apply for a grant, businesses must provide certification “of an unmet need due to damage and/or business interruption” and “documentation of physical damage to the applicant’s physical commercial location,” according to a press release from Gov. Murphy.
Grants will be provided in the form of reimbursement of August rent or mortgage. The application process is expected to open next week.
New Jersey has already handed out more than 80,000 grants and loans to small businesses for COVID relief.
The news Friday came one day after President Joe Biden approved an emergency declaration for New Jersey to help cover the costs of cleaning up from the deadly storm.