The local business community was invited to attend a Chamber event on Tuesday to learn more about the grants and loans that are available to Sandy-impacted businesses. The New Jersey Economic Development Authority and FEMA both presented information to the audience followed by one-on-one appointments to address questions and start the application process.
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Information:Download FEMA Presentation
Grants and Forgivable Loans for Superstorm Sandy-Impacted Businesses
Hosted by Greater Atlantic City Chamber and NJ Small Business Development Center
IF YOU ARE: A New Jersey-based small business or non-profit organization which sustained a minimum of $5,000 in physical damage from Superstorm Sandy.
YOU MAY BE ELIGIBLE FOR: Grants or forgivable loans of up to $50,000.
TO BE USED FOR: Working capital (operating expenses), inventory, equipment, machinery, fixtures, furnishings, and prospective construction. If an applicant seeks multiple types of funding, according to program policy, working capital and inventory expenses will be prioritized.
Non-profits involved in commercial or industrial activities, or that have facilities, which provide a public service that furthers economic development may be eligible, though they may only apply for construction funds. Examples of eligible non-profits may include a fisheries co-operative or a charity with a retail shop. Religious-affiliated non-profits, such as churches, may utilize funding only for renovation or new construction of portions of an impacted physical structure that have non-sectarian uses.
PROGRAM DETAILS: With a focus on the most impacted communities throughout the state, New Jersey is offering aid through grants and forgivable loans to New Jersey small business or non-profit organization which sustained a minimum of $5,000 in physical damage from Superstorm Sandy. Eligible small businesses and non-profits may apply for grants and forgivable loans of up to $50,000 per impacted location. If an entity has multiple locations in New Jersey incorporated under a single federal tax identification or employer identification (EIN) number, it may receive up to $250,000 per entity and it may use one application to seek funds for all incorporated, impacted locations.
ELIGIBILITY: See Application Overview below for a comprehensive list of eligibility requirements and documents needed to apply.
Please read the Application Overview prior to applying for assistance: