“The New Jersey Economic Development Authority announced on Thursday that since April, it has supported 35 investments totaling more than $2 million into 11 companies through the New Jersey Entrepreneur Support Program. The $5 million program was established to support COVID-19 impacted small businesses in the state. It provides an EDA guarantee of up to 80% (not to exceed $200,000) for an eligible new loan or convertible note by a qualified investor into a New Jersey qualified business. In total, the EDA’s COVID-19 relief programs have supported nearly 15,000 small businesses in the Garden State.”
The N.J. EDA COVID Relief Program is helping businesses throughout the State. The numbers involved may not be staggering, but for those getting assistance they can be a lifeline to empower future growth and success. If you haven’t checked out what the State is offering, visit their site today as there may be opportunities to help propel your company into 2021.