April 1, 11:30 a.m. update
The New Jersey Economic Development Authority will be launched its Small Business Emergency Assistance Grant Program application Friday, April 3 at 9 a.m. Grants will be available on a first-come, first-served basis. Application live Friday here.
March 31, 10:15 p.m. update
The New Jersey Department of Labor and Workforce Developmentis urging employers to keep employees on the payroll throughout the COVID-19 pandemic and to take advantage of a 100%, dollar-for-dollar, payroll tax credit provided under the Families First Coronavirus Response Act. More information
The House passed and the President signed the Coronavirus Aid, Relief, and Economic Security Act. Information for Small Businesses here.
March 28, 9 p.m. update
Use the Eligibility Wizard to find out which new State financial support programs your business is eligible for.
Food establishments are advised to see new regulations regarding general hygiene, social distancing and food waste guidance
COVID-19 Hiring Portal
New Jersey Executive Order No. 107, announced on Saturday, March 21, with new standards for businesses, will supersede previous announcements. More information
The New Jersey Business Action Center’s Helpline is now available from 8 a.m. – 9 p.m. seven days a week. Call 1-800- JERSEY-7 to address any concerns you or your employees have.
The New Jersey Economic Development Authority has a portfolio of loan, financing, and technical assistance programs available to support small and medium-sized businesses during this crisis. More information on existing products and programs can be found on the NJEDA website for small and midsize business and the services for those businesses. More information
The State of New Jersey has established a special website devoted to business concerns during the coronavirus emergency. The site will be updated as new information becomes available. More information
As part of its disaster assistance program, the SBA is providing low-interest working capital loans of up to $2 million to small businesses and nonprofits affected by the coronavirus in presidential and SBA-declared disaster areas. These loans carry an interest rate of 3.75% for small businesses and 2.75% for nonprofits. Loan repayment terms vary by applicant, up to a maximum of 30 years. You can use the loan to cover accounts payable, debts, payroll and other bills the coronavirus has affected your ability to pay.
How to Apply
- Apply online and select “Economic Injury” as the reason you’re seeking assistance.
- You’ll need to supply required supporting documentation that could include the business’s most recent tax returns, a personal financial statement and a schedule of liabilities that lists all your current debts.
- Call the SBA Disaster Assistance Customer Service Center at 1-800-659-2955 for help with your application.
The federal tax return filing deadline is now July 15, 2020. For tax payments of up to $10 million, the IRS has also extended the deadline for both individuals and businesses to July 15, 2020. Estimated tax payments for 2020 originally due on April 15 will now be due on July 15.
Check with your state tax agency to find out if your business has more time to file or more time to pay state and local taxes this year as a result of the coronavirus. Several states have already aligned their tax filing and payment deadlines with the new federal deadline. States also may waive or reduce penalties on late tax payments.
FAQ on COVID-19 and its impact on businesses from Business.nj.gov; questions answered via chat.
Disaster assistance loan information from the Small Business Association
Latest guidance for businesses and employers from the CDC
Updated information for businesses from the New Jersey Department of Labor.
Business resources form the Princeton Mercer Chamber of Commerce.
Small-business resources from Google