Author Topic: NJ Small Business Emergency Assistance Grant Program  (Read 2107 times)

Offline cgr

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NJ Small Business Emergency Assistance Grant Program
« on: June 08, 2020, 10:22:54 AM »
Provides $1,000 per employee ($10,000 maximum)
125 full time equivalent employees
Sole proprietorships with no full-time employees will receive the minimum grant amount of $1,000
Home based businesses may also apply for this grant
The grant funding cannot be used for any capital expenses like construction
Applications will be available at 9:00 a.m. on June 9, 2020
https://faq.business.nj.gov/en/articles/3835237

Offline Geshmak25

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #1 on: June 08, 2020, 10:34:52 AM »
Separate from UI and PPP? Any impact on those?
PUTPAC = PITA

Offline cgr

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #2 on: June 08, 2020, 10:52:30 AM »
Separate from UI and PPP? Any impact on those?

Not much on the subject but the application asks about other grants/loans received (See page 8 https://www.njeda.com/pdfs/NJEDA_COVID-19_Economic-Response-Package-Second-Ro)

Regarding PPP/EIDL:
Here's the section related to this from the FAQ:
My business applied for and/or received COVID-19 disaster assistance from the Small Business Administration. Is the same business eligible for a Grant?
- Your business may still be eligible for a Grant. During the application process, you will be asked to provide details on any COVID-19 Disaster assistance received by your business to determine eligibility.
- The NJEDA cannot provide disaster assistance for the same purpose, as this is considered a Duplication of Benefits under federal law, and because your business would no longer have a need for the grant fund for that purpose.
- The business must have this information available. All applicants will need to complete a Duplication of Benefits affidavit with information of other COVID-19 disaster assistance, and details of their application for other such assistance will be needed.

Based on this it looks like if you use it for a different purpose or perhaps different dates, you should be eligible.

Regarding UI:
Obviously if you use the funds for payroll it might disqualify you from benefits for that week if you exceed your PWBR.

Offline Hiding

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #3 on: June 08, 2020, 02:26:02 PM »
Provides $1,000 per employee ($10,000 maximum)
125 full time equivalent employees
Sole proprietorships with no full-time employees will receive the minimum grant amount of $1,000
Home based businesses may also apply for this grant
The grant funding cannot be used for any capital expenses like construction
Applications will be available at 9:00 a.m. on June 9, 2020
https://faq.business.nj.gov/en/articles/3835237
So with a self employed business where I only work part time, what would I choose under employees, just 1099?
Also anyone know what is the definition of small business, is that in order to be placed at higher priority?

Offline cgr

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #4 on: June 08, 2020, 02:34:27 PM »
So with a self employed business where I only work part time, what would I choose under employees, just 1099?
Also anyone know what is the definition of small business, is that in order to be placed at higher priority?

Unless you pay yourself out of your own business via 1099, the answer is 0.
The press release said "first come first serve" so I'm thinking it's for statistical purposes.

Offline avromie7

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #5 on: June 08, 2020, 04:43:18 PM »
Is self employed without a registered business eligible? (File under personal taxes)
I wonder what people who type "u" instead of "you" do with all their free time.

Offline cgr

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #6 on: June 08, 2020, 05:00:38 PM »
Is self employed without a registered business eligible? (File under personal taxes)

If you file a Schedule C, yes. (See how it specifically points out that sole props are eligible.)

Offline Geshmak25

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #7 on: June 08, 2020, 05:04:35 PM »
Regarding UI:
Obviously if you use the funds for payroll it might disqualify you from benefits for that week if you exceed your PWBR.
Can use of funds be delayed until after 7/31?
PUTPAC = PITA

Offline beeweegee

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #8 on: June 08, 2020, 05:11:38 PM »
If you file a Schedule C, yes. (See how it specifically points out that sole props are eligible.)
What does this mean, then?

"Your Business: 1) Is registered to do business in the State of New Jersey;"

Would that mean that a sole prop would need to have a DBA and be registered with the state?

Offline cgr

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #9 on: June 08, 2020, 05:17:18 PM »
What does this mean, then?

"Your Business: 1) Is registered to do business in the State of New Jersey;"

Would that mean that a sole prop would need to have a DBA and be registered with the state?

Hmmm. Good point...

Offline beeweegee

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #10 on: June 09, 2020, 09:12:57 AM »
Now open.

Offline est

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #11 on: June 09, 2020, 08:00:42 PM »
This loan is giving $1000 per employee. One of the questions asks if the business has a material financial need that cannot be overcome without the grant of emergency relief funds. Can any self employed person running a small business honestly say that without this $1000 they are closing up shop? How can this be proven otherwise?

Offline avromie7

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #12 on: June 09, 2020, 08:55:47 PM »
This loan is giving $1000 per employee. One of the questions asks if the business has a material financial need that cannot be overcome without the grant of emergency relief funds. Can any self employed person running a small business honestly say that without this $1000 they are closing up shop? How can this be proven otherwise?
I don't think it means you're going to close up shop, it means if you don't get the grant you have no way to make up the lost revenue.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline shapsam

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #13 on: June 15, 2020, 11:54:46 AM »
Any update on this? Did anyone get an email that they promised?

Offline yossisch1

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Re: NJ Small Business Emergency Assistance Grant Program
« Reply #14 on: June 15, 2020, 12:17:31 PM »
My business is registered in NY. I live in NJ and work from home.  Can I qualify for this?