COVID-19: Rent help is on the way for Montclair businesses
BY JAIMIE JULIA WINTERS
winters@montclairlocal.news
Montclair businesses affected by the COVID pandemic tush put on for up to $10,000 to pay the rent under a new state program.
The Small Clientele Lease – Emergency brake Assistance Grant Program (SBL-EAGP) will allow businesses in 64 eligible municipalities , including Montclair, to apply for the funds, which leave not have to be paid back.
Gov. Phil Murphy said the program wish help landlords besides, galore of whom are also small businesses.
"The Small Business organization Lease Exigency Grant Assistance Political platform is directly geared toward keeping the mom-and-pop shops on main streets and business concern centers afloat in this time of need, specifically in our most vulnerable communities in New Jersey," said Lt. Gov. Sheila Oliver, who serves as Commissioner of the Department of Community of interests Affairs and Gameboard Chairman of the N Redevelopment Agency. "Main streets are where we come to shop, eat, play and worship; they define the town's character. Each grant may mean one less empty shopfront."
The SBL-EAGP, managed by the New Jersey Redevelopment Authority (NJRA), is the first ingredient of a broader Primary Street Commercial Corridors Relief Package, which will follow paid for with northern CARES Act funding. Through the SBL-EAGP, decreased businesses located in NJRA's 64 entitled municipalities that have been adversely wedged by COVID-19 will be able to practice for up to $10,000 to assist with lease payments. IT will cater grants to:
- Tenants leasing commercial space in mixed-use buildings
- Tenants leasing space in commercial buildings
- Tenants leasing place to operate a storefront business organisatio
Businesses with 5,000 square feet of leased space or less lav utilise.
"We truly want to help the small businesses," said Leslie Philip Anderson, President and CEO of the Hot Jersey Overhaul Authority. "Correct now Jersey's small and micro businesses, particularly those in economically challenged communities, are bearing the brunt of our nation's wellness and economic crisis. These businesses deliver value and stability to our state, and yet, battle to access Washington."
Applications volition open Aug. 10 online at www.njra.us . The $6 million in monetary resource leave be distributed on a first-come, first-served basis.
The NJRA has also expanded its microbusiness loanword program to offer $50,000 loans for businesses with 10 or fewer employees and revenues of under $1.5 cardinal p.a..
"COVID-19 has created multiple, compounding challenges for small business owners. Ensuring they are able to survive the up-to-date crisis and rebuild their businesses requires a comprehensive approach that addresses the numerous difficulties they are facing," said Other Jersey Economic Development Authority Chief Executive director Officer Tim Sullivan.
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Source: https://www.montclairlocal.news/2020/07/23/covid-19-rent-help-is-on-the-way-for-montclair-businesses/