Latest Coronavirus News for Small Businesses as of April 6, 2020

New Loans to Become Available – The N.J. Economic Development Authority (NJEDA) will begin accepting applications for its Small Business Emergency Assistance Loans next Monday, April 13, and the application will become available today. The $10 million program will provide working capital loans of up to $100,000 to small and mid-size businesses.

The application will be posted here.
For more information on the loans, click here.

High Demand for Relief – The NJEDA received 10,000 applications for its Small Business Emergency Assistance Grants in the first hour it began accepting them on Friday, said Tim Sullivan, CEO of the NJEDA. The program, at this time, has a $5 million budget, and grants of up to $5,000 are awarded on a first-come, first-served basis.

Don’t Move to the Jersey Shore – Gov. Murphy ordered additional restrictions on short-term rentals at Jersey Shore towns and elsewhere – as well as on transient guests at hotels, motels, guest houses, or private residences. “We have heard too many stories, especially from our shore communities, of people trying to relocate,” Murphy said.

The State Budget – New Jersey appears to be the only state in the country that is proposing to extend its fiscal year to serve as a relief valve, as all states face a revenue plunge. (NJ Spotlight)

Face Masks on Trains and Buses – NJ Transit to riders: Wear face coverings, please, like the CDC recommends (nj.com)

Face Masks, Part 2 – More info on the CDC’s Face mask recommendations (nj.com)

Webinar on Unemployment Insurance – Join our webinar on Wednesday, April 8, with Labor Commissioner Robert Asaro-Angelo to hear about the state of N.J.’s unemployment insurance and other assistance programs for employers and employees. For information on joining the webinar, click here.

Q&A on Unemployment – The state Labor Department released a list of questions and answers for workers dealing with unemployment.

Q&A on U.S. CARES Act – Listen to the conference call from Thursday with the U.S. Chamber of Commerce on the federal CARES Act. Neil Bradley, executive vice president and chief policy officer at the U.S. Chamber, took questions from New Jersey business owners on how the CARES Act can help businesses.

The Business Community Rises – Here is how N.J. businesses are stepping up with coronavirus aid (nj.com)

On the Ground – Here is a thorough and up-to-date list of what’s open, what’s closed and other information to know during the coronavirus response (NJ Spotlight)

Cases in New Jersey – New Jersey officials announced 3,482 new coronavirus cases Sunday, increasing the statewide total to 37,505 positive tests with 917 deaths as the outbreak continues to expand.

Inside the Numbers – There have been about 82,166 coronavirus tests performed on New Jersey residents, of which 37,505 have tested positive, according to the New Jersey Department of Health. This brings the positivity rate to 45.6 percent.

Resources

The U.S. Chamber of Commerce put out guides to help understand the federal relief offerings for business:

The Federal Economic Injury Disaster Loan Program (EIDL)
The Employee Retention Tax Credit
The Paycheck Protection Program (PPP)

Other federal relief programs to help small businesses include SBA Debt Relief and SBA Express Bridge Loans.

The N.J. Economic Development Authority has introduced, grants, loans and other relief offerings for New Jersey businesses. Information and applications can be found here.

The state’s jobs and hiring portal matches employers and candidates. For employers to participate, click here.

New Jersey’s website for up-to-date information about COVID-19.

New Jersey’s website with information for businesses dealing with the impact of coronavirus.

To report a scammer or suspected price gouging, alert the N.J. Division of Consumer Affairs at (973) 504-6240 or at http://njconsumeraffairs.gov.

The state set up a 24-hour hotline where health care professionals are answering questions about coronavirus. The toll-free number is 1-800-222-1222. From outside the state, call 1-800-962-1253.