NJEDA HAS PROVIDED NEARLY $5.5M IN GRANTS TO OVER 230 SMALL BUSINESSES THROUGH MAIN STREET RECOVERY PROGRAM SINCE OCTOBER
In celebration of National Small Business Week, the New Jersey Economic Development Authority (NJEDA) announced plans to open applications for its Micro Business Loan next month, which will make additional funding resources available through the Authority’s Main Street Recovery Program. The NJEDA has already issued nearly $5.5 million in grants through the Main Street Recovery Program.
Governor Phil Murphy’s Fiscal Year 2023 budget proposal includes $50 million for the Main Street Recovery Program. The Governor visited East Side Mags, a comic book store in Montclair to highlight a business that has received this funding.
“Small businesses like East Side Mags are essential to New Jersey’s vibrant and thriving Main Streets,” said Governor Murphy. “As we transition from pandemic to endemic, we must continue to support small businesses as they recover from the devastating impact of COVID19. I am proud to support New Jersey’s small businesses and look forward to seeing their continued resiliency and contributions to our economy and communities.”
“During Governor Murphy’s tenure, we have made historic progress to spur economic growth and support small businesses dealing with the ongoing effects of the COVID-19 pandemic,” saidNJEDA Chief Executive Officer Tim Sullivan. “We’re already seeing the impact of the Main Street Recovery Program, as new businesses open their doors, hire new employees and move their local communities forward.”
READ MORE:NJEDA Has Provided Nearly $5.5M in Grants to Over 230 Small Businesses Through Main Street Recovery Program Since October