Help for Small Businesses Affected by Sandy
The State of New Jersey is providing help to small business owners recovering from Superstorm Sandy through the Stronger New Jersey Business Grant and Loan programs.
Grants up to $50,000 per business location are available under the Stronger NJ Business Grant program. The program requires that a small business was in existence on Oct. 29, 2012 and sustained a minimum of $5,000 in physical damage from the storm.
The New Jersey Economic Development Authority (EDA) is administering both programs. Business advisors are available over the phone, in person, at your place of business, and at regularly scheduled workshops throughout the state.
Visit the EDA’s website or call 1-855-SANDY-BZ to learn more.
Loans up to $5 million per business are available, with no interest for the first 24 months and no principal payments for up to two years. The loans can be used for renovation, new construction, or equipment. Loans of up to $500,000 are also available for working capital needs.