Gloucester Township, NJ - The Township of Gloucester has appropriated $425,000 of its federal Community Development Block Grant CARES Funds (CDBG-CV) for the COVID-19 Small Business Assistance Program. The program is being established to provide working capital funds to the community’s small businesses that have been severely impacted by the COVID-19 pandemic.
The program component makes funds available for 120 days of verifiable working capital up to a grant ceiling of $5,000. CDBG Small Business Assistance funds may be used to assist Gloucester Township retail, restaurants, entertainment, and nonprofessional service businesses with no more than 10 employees (full time equivalent positions) that were in business as of December 31, 2019. To be eligible, the business must have one employee, which can be the business owner, who will be retained and meets the low/moderate income requirement; or the business is located in an eligible program area. Benefiting businesses should have solid commitments to remain open or reopen and retain or re- employ at least one permanent job. The business may use funds for working capital expenses. Eligible expenses include payroll, rent/mortgage, utilities such as internet or electricity, advertising/marketing, insurance and/or cost to comply with the State of New Jersey and any local social distancing policies.
“We are excited to announce a new small business assistance program available to Gloucester Township businesses to relieve them of some of the burden brought on to them by the current health crisis. The Covid-19 Small Business Assistance program will offer extra funding to our hard-working small businesses that are so very fundamental to our community. I am thrilled to introduce this new initiative and let our local small business owners know that Gloucester Township is committed to supporting them and their operations,” said Mayor David R. Mayer.
For more information, please visit: https://glotwp.com/cdbg/