Author Topic: NJ Commercial Rent Relief  (Read 2448 times)

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NJ Commercial Rent Relief
« on: July 24, 2020, 01:55:16 PM »

Offline aygart

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Re: NJ Commercial Rent Relief
« Reply #1 on: July 24, 2020, 02:02:10 PM »
https://www.njra.us/Small-Business-Lease-Emergency-Assistance-Grant-Program

Detailed write-up in my signature.
Was waiting for this! I have a couple of questions.

PPP can be used for rent up to 40%. How does that work with this? Can this cover rent above what is covered by PPP?
EIDL requires that other benefits be used to repay the loan. Is this included?
Feelings don't care about your facts

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Re: NJ Commercial Rent Relief
« Reply #2 on: July 24, 2020, 02:12:32 PM »
Was waiting for this! I have a couple of questions.

PPP can be used for rent up to 40%. How does that work with this? Can this cover rent above what is covered by PPP?
EIDL requires that other benefits be used to repay the loan. Is this included?

I'd say it can't be used to cover rent above what is covered by PPP, but it does seem that you are eligible for this if you didn't use PPP for rent at all. (The term used is If prior assistance could not be utilized for lease payments- it's not clear if this means that it wasn't utilized for this purpose, or it couldn't be utilized for this purpose. I'm of the opinion that it's the first, because there was no federal program designated for anything that excluded rent as an eligible expense). Since PPP forgiveness applications have not been submitted yet, it's still possible to change course and not assign any funds for rent purposes.

No. You're not actually getting these funds. It's going straight to your landlord.
If you're the landlord this will be in lieu of regular rent payments and not something above and beyond that.

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Re: NJ Commercial Rent Relief
« Reply #3 on: August 10, 2020, 10:05:20 AM »
Program is now live. First come first serve.

Offline aygart

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Re: NJ Commercial Rent Relief
« Reply #4 on: August 10, 2020, 10:43:10 AM »
Program is now live. First come first serve.
One of the questions they ask is how much is being requested. How should that be figured out and why would it be anything less than $10,000?
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Re: NJ Commercial Rent Relief
« Reply #5 on: August 10, 2020, 10:51:03 AM »
One of the questions they ask is how much is being requested. How should that be figured out and why would it be anything less than $10,000?

There's no guidance on that...
The FAQs clearly state that all applicants can receive up to 10k.
It's possible that if your rent is 1k a month you'll have a hard time getting 10k because Covid shouldn't have foreseeably impacted you (yet) for 10 months.

Offline helpusout

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Re: NJ Commercial Rent Relief
« Reply #6 on: August 10, 2020, 10:59:34 AM »
i see that they ask if u received help for rent elsewhere.  my company received ppp but we spent more than 100% on payroll so we can submit for forgiveness either way. is it better to write that you did or did not receive other assistance?

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Re: NJ Commercial Rent Relief
« Reply #7 on: August 10, 2020, 11:03:26 AM »
i see that they ask if u received help for rent elsewhere.  my company received ppp but we spent more than 100% on payroll so we can submit for forgiveness either way. is it better to write that you did or did not receive other assistance?

Can I receive assistance from NJRA if my business has previously received funding related to COVID-19?
Yes, as long as it’s disclosed on the application. The prior COVID-relief funds can not have been utilized to assist in monthly lease payments. If funds were received for that purpose, per the CARES Act, the request will be denied.

Looks like you need to disclose and note that you did not use for lease payments. Is that an option?

Offline aygart

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Re: NJ Commercial Rent Relief
« Reply #8 on: August 10, 2020, 11:21:02 AM »
Can I receive assistance from NJRA if my business has previously received funding related to COVID-19?
Yes, as long as it’s disclosed on the application. The prior COVID-relief funds can not have been utilized to assist in monthly lease payments. If funds were received for that purpose, per the CARES Act, the request will be denied.

Looks like you need to disclose and note that you did not use for lease payments. Is that an option?

It is not an option. There is this question with a choice of yes or no.

Has your business received CARES
Act (Coronavirus Relief Fund)
financial assistance
(local/county/state/federal) for
lease payments (rent) as a result
of COVID-19?
Feelings don't care about your facts

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Re: NJ Commercial Rent Relief
« Reply #9 on: November 13, 2020, 11:10:26 AM »
https://www.njra.us/SmallBusinessLeaseEmergencyAssistanceGrantProgram
Program will open next week in Ocean, Passaic, and Essex county.
Detailed writeup in my signature bock below.

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Re: NJ Commercial Rent Relief
« Reply #10 on: November 16, 2020, 09:01:56 AM »
https://www.njra.us/SmallBusinessLeaseEmergencyAssistanceGrantProgram
Program will open next week in Ocean, Passaic, and Essex county.
Detailed writeup in my signature bock below.

Applications now open in Passaic and Essex County.

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Re: NJ Commercial Rent Relief
« Reply #11 on: November 17, 2020, 09:30:58 AM »
https://www.njra.us/SmallBusinessLeaseEmergencyAssistanceGrantProgram
Program will open next week in Ocean, Passaic, and Essex county.
Detailed writeup in my signature bock below.
Applications now open in Ocean County.
The statewide round of this program depleted funds in hours so if you might be eligible, don't delay- apply asap.

Offline aygart

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Re: NJ Commercial Rent Relief
« Reply #12 on: November 17, 2020, 10:15:40 AM »
Applications now open in Ocean County.
The statewide round of this program depleted funds in hours so if you might be eligible, don't delay- apply asap.
Does the first round of NJRA rent grants get included under CARES act grants?
Feelings don't care about your facts

Offline Dave321

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Re: NJ Commercial Rent Relief
« Reply #13 on: November 17, 2020, 10:35:01 AM »
If you used PPP for rent then you will get denied. I applied number 14 and got denied. I called them and the women confirmed that if you used PPP for rent then you will get denied.

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Re: NJ Commercial Rent Relief
« Reply #14 on: November 17, 2020, 11:16:21 AM »
Does the first round of NJRA rent grants get included under CARES act grants?

I'm not sure what you mean. All these grants are funded by the CARES act.

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Re: NJ Commercial Rent Relief
« Reply #15 on: November 17, 2020, 11:18:53 AM »
If you used PPP for rent then you will get denied. I applied number 14 and got denied. I called them and the women confirmed that if you used PPP for rent then you will get denied.
Correct,  but if you used PPP for other purposes you can get it. Now that PPP allows for a 24 week period, I don't see any reason to claim rent under PPP.

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Re: NJ Commercial Rent Relief
« Reply #16 on: November 17, 2020, 11:45:01 AM »
I'm not sure what you mean. All these grants are funded by the CARES act.
So then anyone who received in the statewide is ineligible. I entered what I received from there and it auto-rejected me.
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Re: NJ Commercial Rent Relief
« Reply #17 on: November 17, 2020, 11:52:48 AM »
So then anyone who received in the statewide is ineligible. I entered what I received from there and it auto-rejected me.
If those grants received were used for rent, and for the same business, correct.

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Re: NJ Commercial Rent Relief
« Reply #18 on: November 17, 2020, 01:19:30 PM »
If those grants received were used for rent, and for the same business, correct.
they were paid directly to the landlord.
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Re: NJ Commercial Rent Relief
« Reply #19 on: November 17, 2020, 01:26:20 PM »
they were paid directly to the landlord.

Correct, but if you received a residential rent grant for your personal rent, that wouldn't count here, and neither would a grant for a different business you own.