Knowledge and Insights

In response to the COVID-19 pandemic, the New Jersey Redevelopment Authority (NJRA) announced a $6 million grant program that allows businesses in 64 eligible municipalities that have been adversely affected by the virus to apply for grants of up to $10,000 to assist with lease payments. The program is targeted toward businesses with less than 5,000 square feet of leased space and aids tenants leasing commercial space in mixed-use buildings, commercial buildings, or space to operate a storefront business.

Applications will open online Monday, August 10 at 9 AM. As with other relief programs, the funds will be distributed on a first come first serve basis.

For more information on this program, please visit the following links below:

• https://www.njra.us/Small-Business-Lease-Emergency-Assistance-Grant-Program
• https://www.njra.us/media/SBLEAGP/Notice%20of%20Funding%20Availability%20(NOFA).pdf
• https://www.njra.us/media/SBLEAGP/Small%20Business%20Grant%20Program%20FAQ.pdf
• https://www.njra.us/media/SBLEAGP/The%2064%20Eligible%20Municipalities.pdf

DISCLAIMER: This advisory resource is for general information purposes only. It does not constitute business or tax advice, and may not be used and relied upon as a substitute for business or tax advice regarding a specific issue or problem. Advice should be obtained from a qualified accountant, tax practitioner or attorney licensed to practice in the jurisdiction where that advice is sought.