The New Jersey Economic Development Authority (EDA) has
announced that it will provide an additional $50 million in grants
to small businesses that have been adversely impacted by the
COVID-19 pandemic. This follows Governor Murphy's announcement
that he would be allocating federal CARES Act funds received by the
State to small business assistance programs. The EDA's
announcement provides additional funding to its Small Business
Emergency Grant Program. This program provides grants of up to
$10,000 to qualifying businesses and the program was oversubscribed
within an hour of launching. The EDA now plans on providing an
additional $5 million to fund applications that were waitlisted due
to demand. The remaining $45 million will be used to provide grants
(up to $10,000) to a broader range of businesses than were
previously eligible when the program initially began in April. The
program will now be available to home-based businesses, sole
proprietors, nonprofits and small
