National Small Business Week 2021

National Small Business Week 2021 (NSBW)

September 13 – 15, 2021

 

National Small Business Week (NSBW) is all about YOU and your business!    The NJSBDC network works hard for New Jersey’s small businesses every single day, but this week, in particular, is focused on helping you recover, pivot, succeed and thrive … online!!

Please take a look at the offerings below to help you and your business during National Small Business Week 2021.   Click on the Event Titles for descriptions and details.

Thank you for all you do and Happy Small Business Week!

 

Featured NSBW Events

Title/ LinkDate/ TimeDescription
No Cost ESL Program for Mercer County Small Business EmployeesMon., 9/13/21

at 4:30 – 6:30 pm

Help your Spanish-speaking employees better understand how to communicate with your customers and the rest of your staff.
Financial Management Clinic for Your Business (4 sessions)Tues., 9/14/21

at 8:00 – 9:30 am

This Multi-Session Financial “Boot Camp” will help you position your personal and business credit for success!
How to Earn More & Grow Your Team Using LinkedInTues., 9/14/21

at 12:00 – 1:00 pm

LinkedIn can be a powerful tool for your business. Learn how to generate leads, attract talent and more!
Winning Public Federal ContractsTues., 9/14/21

at 1:00 – 2:30 pm

Confused about federal contracts?  This webinar will help you understand procurement processes and the relative certifications needed to help you get your WIN!
The Customer’s JourneyTues., 9/14/21

at 6:00 – 7:30 pm

Is your customer’s journey through purchasing simple? Join this webinar to make sure the processes through today’s omnichannel world are easy and efficient.
Create Your Local Listing on

Google & Bing

Tues., 9/14/21

at 6:00 – 9:00 pm

Getting found in search engines is critical for your business. Join us to learn how to create your free Local Business Listing on Google and Bing, and also discuss other opportunities to keep you from being left behind.
Countdown to NJ’s 2022 Plastic Bag & Polystyrene Foam BanWed., 9/15/21

at 9:00 – 10:00 am

NJ’s Plastic Carryout Bag ban is coming up on May 4, 2022.  What does that mean and what is at stake?  Join us to find out and prepare.
Supply Chain Management for Small Business (4 sessions)Wed., 9/15/21

at 10:00 – 12:00 pm

Inventory management refers to the process of ordering, storing, and using a company’s inventory.  Join us for this comprehensive, 4-session course to help fine-tune your processes to be able to more-effectively address any current or future supply chain problems.
Website, Social Media & Analytics WorkshopWed., 9/15/21

at 9:00  – 2:00 pm

A strong online presence is vital in today’s marketplace.  Is your online presence conveying a brand that your consumers can trust and want to engage with?  Learn how to utilize tools and strategies to optimize your website and social media so you can promote and grow your business.
Herramientas de Exito para su Negocio Latino (6 sessions)Wed., 9/15/21

at 4:00 – 6:00 pm

El 15 de Septiembre inicia el mes de la Herencia Hispana y para celebrar este acontecimiento, los Centros de Desarrollo de Pequeños Negocios de Connecticut, NJ & NY realizaràn una serie de seminarios sin costo alguno dirigidos a proporcionar ayuda y asistencia a los Dueños de Negocios Hispanos.

Additional Featured Events:

 

Need More?!

https://njsbdc.com/events

New Leadership Appointment at NJSBDC HQ

Former State Director of Colorado SBDC Named CEO/State Director of NJSBDC

Rutgers Business School recently appointed Kelly Brozyna, who formerly served as the Colorado SBDC’s State Director for many years, as NJSBDC CEO and State Director.

Brozyna also founded the Colorado Business Development Foundation, a 501(c)3 non-profit, and served as its President from 2015-2020.

In 2016, Brozyna took a leadership role in the Colorado Governor’s Office of Economic Development’s Small Business Division, assisting in implementing Colorado’s blueprint for strategic initiatives and services.

She holds a Bachelor’s degree in Business Administration and a Master’s degree in Communications with a Major in Dispute Resolution from the University of Denver.

“I am so excited about joining New Jersey’s SBDC,” said Brozyna, Chief Executive Officer and State Director.  “Re-tooling and setting a new blue-print is a top priority.”

The NJSBDC network “Senior Leadership Team” consists of the Chief Executive Officer/ State Director and Chief Operating Officer/ Associate State Director.

“We welcome Kelly to our NJSBDC network,” said Deborah Smarth, NJSBDC Chief Operating Officer and Associate State Director.  “I am hopeful that together we can make great strides as an executive team.”

 

 

From Challenges to Recovery to Resiliency

From the Desk of Kelly Brozyna

State Director and Chief Executive Officer of America’s SBDC New Jersey

 

I’m glad to join the NJSBDC network Senior Leadership Team as State Director and Chief Executive Officer and relocate from Colorado, where I directed the Colorado Small Business Development Centers for many years.  I’m looking forward to engaging with NJSBDC’s regional centers and directors, partners, collaborators, host institutions, and of course the NJSDBC staff members who make the engine go every day throughout the year.

So many small businesses and entrepreneurs suffered major setbacks due to the onslaught of the pandemic (COVID-19) over the past several months.  Our offices were flooded with inquiries, questions, and urgent pleas for assistance and our regional offices, business advisors across the state have been working around the clock to facilitate and respond to the high volume of “HELP” calls.  These small business owners included returning SBDC clients and new businesses never seen before.  We helped them all to receive answers, apply for disaster assistance loans, including PPP as well as grants and other financing at the state level.  They received financing and funding as a result of our efforts and have been able to retain employees and navigate through these rough waters.

As we move ahead in these challenging times into small business recovery and future resiliency, the New Jersey Small Business Development Centers – also known as America’s SBDC New Jersey – will play a critical role in guiding and providing comprehensive assistance for small businesses in all 21 counties.  That assistance will not only focus on the typical operational aspects, but, also all the key strategies and tools to cope with the challenges of the pandemic, including health and safety guidelines for business re-opening, re-tooling business operations, and ensuring that the companies are going in the right direction with re-invention and solid decisions based on cash flow and other factors.

The NJSBDC Team cares and we’re here to assist the thousands of small businesses and entrepreneurs who need our help.

Challenging Times with Business Aspirations

From the Desk of Kelly Brozyna, NJSBDC’s CEO & State Director

Challenging Times with Business Aspirations

 

While this has been a challenging time for everyone, it has also been an amazing time to reconstruct business operations to deal with the effects of COVID-19. With the help of NJSBDCs expert business advisors/counselors and personnel across New Jersey, small business clients of our network have navigated these rough waters; retrofitting their strategies to cope with the current obstacles of the pandemic.

#NJThrives

Our CARES Pain Points and Productivity webinar series under the #NJThrives Upgrade Your Business program, not only provide our small businesses with vibrant and pertinent information about re-opening safely, but they also get additional assistance on maneuvering and enhancing business objectives. Experts assist businesses in looking at operations through a different lens and a positive outcome is that many of our webinar participants also register as clients of the NJSBDC. Once a business registers as a client, it can benefit from customized, one-on-one management consulting to ensure its maintenance, advancement, and resilience in the future.

Working with Partners

Our NJSBDC network Headquarters is also closely collaborating with our stakeholders and partners over the years, including our state government partners–the New Jersey Economic Development Authority (NJEDA) and the New Jersey Business Action Center (NJBAC). Other partners we work closely with include the African American, Hispanic, and most recently the Veterans Chambers of Commerce. With bolstered objectives during COVID-19, we lay the foundation for further enhancements in the delivery of much-needed and in-demand small business assistance services and support to all communities and populations. We are maximizing resources for the small business sector to ensure they can make it through the hurdles of this pandemic, which has affected the way small business does business.

Looking Forward

The NJSBDC network looks forward to assisting small business owners with their enrollment in our Upgrade Your Business ́ series webinar certificate program to ensure business survival, maintenance, and advancement as we move ahead in 2021. Our clients‘ success is NJSBDCs success. Small business success contributes to a more solid state economy by saving and creating jobs and continuing on the path to resiliency.

NJ Waives SMWVBE Certification Filing Fees for National Small Business Week


TRENTON — During National Small Business Week, State Treasurer Elizabeth Maher Muoio announced that the Department of the Treasury will be indefinitely waiving the $100 filing fee to become certified as a Small, Minority, Woman, or Veteran-owned Business Enterprise (SMWVBE).

“We are kicking off National Small Business Week by opening the door wide for small, minority, women, and veteran-owned businesses who are looking to do business with the State,” said Treasurer Muoio. “Treasury is continuously striving to find ways to make doing business with the state easier and more intuitive, especially when it comes to businesses looking to get their foot in the door and pursue contracting opportunities with the State.”

Beginning June 1, Treasury will start waiving the $100 fee to become registered as an SMWVBE. Registration is already free to become certified as a Disabled Veteran-Owned Business Enterprise. Additionally, New Jersey business owners are already permitted to register their business for as many certification categories as they are eligible. Businesses can apply for certification in any of these categories through Treasury’s online portal.

Certification as a Small, Minority, Woman, Veteran or Disabled Veteran-Owned Business Enterprise provides state-backed documentation of a business’ status and allows businesses to compete in select set-aside or goal-based contracting initiatives offered by State agencies, including the Small Business Enterprise Set-Aside Program, which sets a goal of awarding 25 percent of state contracting and purchase orders to small businesses, and the Disabled Veteran-Owned Set Aside Program, which awards three percent of state contracting and purchase orders to businesses that are owned and operated by service-disabled veterans.

Treasury’s Office of Diversity and Inclusion is also in the process of conducting a statewide disparity study, which may allow for additional set aside programs to be authorized in the future for other subsets of the SMWVBE universe.

“Today’s announcement marks an important step to strengthen the state’s commitment to supporting diverse businesses,” said Hester Agudosi, Chief Diversity Officer. “Waiving the fee associated with minority, women and veteran-owned business certification removes a monetary barrier to accessing the State’s supply chain that is real for many minority, women, LGBTQ, and veteran business owners. As an NJ certified MWBE, both public and private sector organizations and firms have access to your profile for considering solicitations for prime and sub-contract opportunities.”

As part of Small Business Week, Treasurer Muoio also joined other state filing officers from across the country (typically the Secretary of State in most states) for the #BizSchemeSOS awareness campaign launched this week to help businesses and individuals avoid potential scams and fraudulent activity.

Treasury is also launching its own awareness campaign – #Treasury4Biz – to encourage businesses and individuals to avail themselves of the many services the department offers, including free online filing tools through e-government partner Gov2Go, which offers a wide range of mobile and other online self-service applications that cover the entire life-cycle of a business, saving time and providing easier ways to ensure filings are up-to-date with the state.

“During Small Business Week, we are trying to raise awareness about the valuable services provided by our department to help protect New Jersey businesses and enable them to thrive,” said Treasurer Muoio. “The campaign is designed to encourage people to use the services provided by our department to detect and respond to fraudulent practices or activities, as well as the many other services we provide to assist with the day-to-day activities of running a business.”

Treasury is encouraging businesses and individuals to consult with the business services program offered by the department’s Division of Revenue and Enterprise Services, which includes guidance on how to file and register a new business, annual filing requirements, online certification to become a Small, Minority, Woman, Veteran, or Disabled Veteran-Owned Business Enterprise, Uniform Commercial Code filings, and helpful information and answers if a business is worried about being the target of fraudulent activities or scams.

The program also provides the business community with accurate, credible information about their business status, as well as how to maintain good legal standing with the State and avoid unnecessary fees, filings, and suspicious actors.

Treasury’s numerous divisions, including DORES and Taxation, work in tandem with multiple state agencies in offering numerous assistance tools and funding programs to support New Jersey’s business community, including the Department of Labor and Workforce Development, the NJ Business Action Center operated by the Department of State, and the NJ Economic Development Authority.

###
 

SOURCE:

https://www.nj.gov/treasury/news/2021/05052021.shtml

Cares Programs

NJSBDC Cares Webinars

 

The NJSBDC is offering a series of comprehensive training programs for small and mid-sized businesses impacted by COVID-19 to help with issues ranging from “Continuity Planning for Sudden Disasters” to “Debt Restructuring and Bankruptcy”. These programs will be available online starting Wednesday, September 30, 2020 with “Return to Work: Health & Safety Issues”, taught by Mitchel Rosen, Ph.D., of Rutgers School of Public Health, Center for Public Health Workforce Development (CPHWD). All programs in this series are presented by field experts with the sole purpose of helping New Jersey business overcome the business-related effects of the COVID-19 pandemic. These programs are made available by the Cares grant, funded by the U.S. Small Business Administration.

The webinars being offered under the Cares program are listed below:

Webinar Titles:Webinar Descriptions:Dates & Times:Registration Links
Return to Work (Part I): Health & Safety IssuesA two-part series – This first of a 2-part webinar series will focus on how small businesses can protect their workplaces, employees and customers against potential health and safety threats, including the prevention of the transmission of COVID-19 and other communicable diseases. The main part of the training will address key issues that small businesses must address before opening their business. Small businesses should develop a COVID-19 Return to Work plan that addresses a range of issues.Wed., Sept. 30, 2020 at 1 – 2:30 pmhttp://bit.ly/NJSBDC-Cares-ReturntoWork-2020

On-Demand Recording Pending

Return to Work (Part II): Mental Health & Resiliency“Return to Work: Mental Health & Resiliency” is part two of a two-part series, which will provide information about continuing to incorporate safety and health concerns for workers and customers in their core business operations.

This webinar will cover the following topics:
– Managing our reactions to COVID19
– Helping each other
– Support for families
– Mental health and resiliency resources

Wed., Oct. 28, 2020 at 12 – 1:30 pmhttp://bit.ly/NJSBDC-Cares-ReturntoWork2-2020
Credit Management: Techniques to Establish Business Credit

Establishing business credit is not as hard as you think. There are simple ways to get started in getting your business to stand on its own when it comes to credit. The fact is that many business loans are denied due to the lack of business credit. Join us and learn about:

  • How May Covid-19 Impact Your Credit
  • CoronaVirus and Your Finances
  • What Exactly Is a FICO Score
  • What Makes up Your Credit Score
  • Variables of Credit & How it Affects You
  • Credit Utilization
  • The law Is On Your Side
  • Dealing With Collection Agencies
  • Data Miners and Other Third-Party Agencies
  • Process of Credit Freeze
  • What is Business Credit
  • Steps to Establishing Business Credit
  • Major Business Credit Agencies
  • Working W/Vendors to Establish Credit
Wed., Oct. 28, 2020 at 4 – 5:30 pmhttp://bit.ly/NJSBDC-Cares-CreditRestoration2020
Continuity Planning for Sudden DisastersUnderstanding and preparing for the potential effects of sudden natural or manmade disasters on small business supply chains, operations, finances, payrolls, distribution, and sale of products. There will be three webinar categories: Recovery, Resiliency, and Reinvention.TBDTBD
E-Commerce for Small Business GrowthHow to develop robust web integration, online sales and marketing, cybersecurity for small businesses, online distribution, and delivery services for small businesses. The webinar will be delivered in two versions: One for B2B businesses and one for B2C businesses.TBDTBD
Operations Continuity through Remote ManagementHow small businesses can develop and execute Continuity of Operations through planning, telework and remote management during periods of interrupted business service. There will be two categories: Recovery and Resiliency.TBDTBD
Creating an Exceptional Customer ExperienceThis webinar will focus on how small businesses can develop and execute Continuity of customer service practices to sustain business activities during periods of interrupted business service. There will two webinar versions: one for Service Industry audience and one for Product/Manufacturing.TBDTBD
Business Response & Recovery Training for Small Business OwnersUsing survey insights and review of small business activities in other regions, the Heldrich Center will provide recommendations on how NJ businesses are using remote work in response to public health and economic challenges. Examples will be identified from within NJ and other regions, including how these strategies respond to Federal, State, and local public health regulations.TBDTBD
Protecting Your Intellectual PropertyHow to protect small business intellectual property. Existing businesses would benefit from a review of intellectual property protections, as they update their original or new business plans (which may not already address trademarks for example) and new businesses, would certainly need guidance on intellectual property so that they are properly protected (with patents for example).TBDTBD
Responding to Cyber Security ThreatsThe risks and mitigation of cyber threats in online commerce, remote customer service, or telework practices by providing small businesses and entrepreneurs with a series of online and in-person cyber-security awareness training cohorts. This Cybersecurity Program will go beyond intrusion detection and reactive remediation. It will provide insight on how to implement cost-effective measures designed to prevent cybercriminals from compromising the integrity of business-critical assets and information on a daily basis. The webinar also covers written policies and procedures to develop, maintain, and enforce both internally and publicly on the business’ website. Topics will also include federal and state laws that impact business operations and the business data typically collected and stored.  Finally, this webinar will cover contractual obligations that clients may impose, and what business owners should expect and seek from vendors. The webinar also provides a number of best practices and helpful tips to educate end-users who access business’ systems information.TBDTBD
Debt Restructuring & BankruptcyThe objective of this webinar is to teach financially stressed business clients how to get out of debt on an affordable budget and satisfy creditors as an alternative to bankruptcy using a proven methodology.TBDTBD

For more detailed information on the programs, go to NJSBDC Cares Act Webinar Summary (Client View)

Chris Finnick, Owner of Vauxhall Takeout BBQ Restaurant Named SBA’s 2020 NJ Small Business Person of the Year

Owner of Vauxhall Takeout BBQ Restaurant Named SBA’s 2020 NJ Small Business Person of the Year

 

U.S. Small Business Administration

PRESS RELEASE:

Sept. 22, 2020

VAUXHALL, NJ – Fourteen years ago, Chris Finnick jumped from behind the wheel of driving a delivery truck for Staples to get behind the grill of his uncle’s southern-style barbeque takeout restaurant. Today, the CEO and owner of Mama’s Southern Style BBQ 2 was named the U.S. Small Business Administration (SBA) New Jersey 2020 Small Business Person of the Year.

Chris Finnick, Owner, Mama's Southern Style BBQ 2The award is part of this year’s celebration of National Small Business Week (Sept. 20 – 26), where the SBA honors and recognizes the achievements of small business owners across the country.

According to SBA New Jersey District Director Al Titone, Finnick was nominated for the award by David Margulies, regional director of the Kean University New Jersey Small Business Development Center and was selected for the award based on criteria that include: Staying Power (a substantial history of an established business); Growth in Number of Employees; Increase in Sales; Financial Strength of the Company; Innovativeness of Product or Service Offered; Contributions to Aid Community Oriented Projects; and being Aided by the Programs and Services of the SBA.

Despite taking over the successful Vauxhall-based takeout barbecue restaurant and having the benefit of his uncle mentoring him for a year, Finnick said that he had to learn everything on the fly and adapt to the pressures of meeting his customers’ demands.

Over time, Finnick would master the kitchen and learn the day-to-day operations of running a successful takeout restaurant. After a decade of operating out of 750 square foot space, he realized if he were ever going to grow his business, he would have to get assistance. He turned to the New Jersey Small Business Development Center at Kean University for help with understanding his business finances and getting a handle on all the costs associated with his business operations.

In 2018, with his revised business plan in hand, Chris secured both an SBA Community Advantage Loan for $75,000 and Microloan of $15,000 from the Regional Business Assistance Corporation. The financing allowed him to purchase new equipment and move into a 2,200 square foot facility.

The added space also increased the restaurant’s capacity, allowing Chris to now offer catering and to continue to serve up his signature southern-style barbecue dishes of chicken, ribs, pulled pork, fried shrimp, and catfish. In just a short time, the SBA assistance has helped Mama’s Southern Style BBQ 2, LLC to increase its annual sales by 61% and the number of employees by 66%.

However, the COVID-19 virus initially presented some challenges for Finnick and Mama’s Southern Style BBQ2. “In the beginning of the pandemic, we were struggling,” said Finnick. “However, with the Paycheck Protection Program (PPP) loan from the SBA, we were able to retain our 10 employees. We put a lot of safety measures in place, including plexiglass across our pick-up counter and a sliding barnyard door in front of the grill to ensure that our food preparation area is safe, as well. Because we are primarily a takeout barbecue restaurant, we saw our sales increase by 40%.”

“This is a story about having passion, tenacity and vision,” said Titone. “Chris Finnick possesses these necessary characteristics that all small business owners need to achieve a certain level of success. This is what the American dream is all about. As we celebrate National Small Business Week, during these unprecedented times, SBA is proud of the role we have in fostering business growth across the country and here in New Jersey. We honor entrepreneurs like Chris Finnick whose achievements over the past year stand out and have faced the challenges that COVID-19 has presented to them and their ability to pivot, retool, recover, and triumph in light of the pandemic.”

SBA Region II Regional Administrator Steve Bulger, who oversees SBA’s programs and services for New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands said, “Small businesses like Mama’s Southern Style BBQ 2 are the fuel to the American economic engine, primarily through job creation, innovation, and competition. This National Small Business Week, we honor Chris Finnick’s resiliency and urge neighbors to continue to ‘shop small’ and support the over 900,000 small businesses in New Jersey. The SBA is proudly assisting in our continued economic recovery, most notably providing over $525 billion in lifelines to over 5.2 million small businesses through the Paycheck Protection Program.”

Finnick continues to serve up a menu that includes barbecue chicken, ribs, pulled pork, fried shrimp, and fried catfish that come with an assortment of sides that include collard greens, string beans, cabbage, baked mac & cheese, french fries, coleslaw, and potato salad, as well as its signature cornbread and desserts. According to Finnick, the rubs and sauces for the barbecue are family recipes that come from North Carolina and have a vinegar-base. Meats stay on the barbecue pit for six to seven hours at a time.

Today, Mama’s Southern Style BBQ 2 employs 10 people with an eye toward increasing that total down the road. In the meantime, Finnick has enjoyed numerous visits from members of the New York Jets and New York Giants Football Teams and New Jersey Governor Phil Murphy.

“I have to let the news of being named SBA’s New Jersey 2020 Small Business Person of the Year to sink in,” said Finnick, “It is an honor for me to be standing here today as the recipient of this prestigious award. I thank my family, all my employees, the Kean University SBDC, Regional Business Assistance Corporation, SBA, and our loyal customer base, who believed in me and helped me achieve this level of success.”

“We have a great team here at Mama’s Southern Style BBQ 2. My vision is to continue to build on our success and to eventually expand to a nice sit-down restaurant and possibly franchising the takeout concept down the road,” he added.

View the video here: 

 

###

About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

#NJThrives

#NJThrives

 

NJ Thrives (#NJThrives) is an online video-sharing initiative to help NJ businesses pivot, survive and thrive despite the effects of COVID-19 by sharing videos of successful small and mid-sized businesses to help motivate and inspire us all.

If you’re sharing a video you previously published:

So, if you have a video to share with us, please take a moment to complete the Participant Submission form, giving us permission to share your video on your behalf and include the link of your video!

If you’re making a new video:

Create the video.  Try to be creative and try to be inspirational, but make sure to clearly say what your company does and where you are (online and offline).  Also, include how you’ve been able to succeed and keep your doors open. 

Then post your video on YouTube on your business’ YouTube channel.  Make sure to include #NJThrives in your video post your video on your YouTube Channel, using the title “#NJThrives: [Your Business Name, Town/City].

We’ll add your video to our YouTube channel and share it on social media.  We may even add it to a composite video!

Instructions to Make your Video for YouTube:

How to Make a YouTube Video (Beginner’s Guide)

Instructions to Create your YouTube Channel:

https://support.google.com/youtube/answer/1646861?hl=en 

 

NOTE:  Due to Popular Demand, #NJThrives has been extended through 2020!  

If you have any questions or concerns, please reach out to Shy Hopkins at shyekah@business.rutgers.edu.

Thank you and we’re really looking forward to sharing your success!  🙂

 

View some of the videos below:

 

 

 

 

COVID-19 Related Programs, Initiatives and Services

COVID-19 Related Programs,

Initiatives and Services offered by the NJSBDC

 

#NJThrives

 

 

 

 

 

 

#NJThrives is an initiative designed to help NJ businesses pivot, survive, and thrive despite the effects of COVID-19.

Using the hashtag, #NJThrives, small and mid-sized businesses are encouraged to record a video of themselves, their teams, and their businesses and share how they are successfully operating during the COVID-19 pandemic. The videos will be shared on the NJSBDC’s YouTube channel and on other social media platforms. #NJThrives videos are being compiled between the Small Business Week (September 22 – 24, 2020) through Small Business Saturday (November 28, 2020).

To participate in the #NJThrives initiative, business owners will need to complete a short online form giving the NJSBDC permission to share the video on their behalf and then upload their finished production to their own YouTube channels using the hashtag #NJThrives.

For more information: https://njsbdc.com/njthrives

 

—————————————–

NJSBDC Cares Webinars

 

The NJSBDC is offering a series of comprehensive training programs for small and mid-sized businesses impacted by COVID-19 to help with issues ranging from “Continuity Planning for Sudden Disasters” to “Debt Restructuring and Bankruptcy”. These programs will be available online starting Wednesday, September 30, 2020 with “Return to Work: Health & Safety Issues”, taught by Mitchel Rosen, Ph.D., of Rutgers School of Public Health, Center for Public Health Workforce Development (CPHWD). All programs in this series are presented by field experts with the sole purpose of helping New Jersey business overcome the business-related effects of the COVID-19 pandemic. These programs are made available by the Cares grant, funded by the U.S. Small Business Administration.

Click Here to view information on all the programs offered:

A list of the program titles are listed below: 

–  Return to Work I: Health & Safety Issues* (9/30/20 at 1pm) –  OnDemand Video PENDING

–  Return to Work II: Mental Health & Resiliency (10/28/20 at 12pm) –  Register Now

Credit Management: Techniques to Establish Business Credit  (10/28/20 at 4pm) Register Now

–  Cybersecurity Overview for B2C Businesses (10/29/20 @ 5pm) – Register Now

– Continuity Planning for Sudden Disasters

– E-Commerce for Small Business Growth

– Operations Continuity through Remote Management

– Creating an Exceptional Customer Experience (3-Part Certificate Series: 11/6, 11/13, 11/20)

– Business Response & Recover Training for Small Business Owners

– Protecting Your Intellectual Property

– Responding to Cyber Security Threats

– Debt Restructuring & Bankruptcy

 

For more information: Go to https://njsbdc.com/cares-programs/.

—————————————–

NJSBDC One-to-One Expert Business Counseling

 

The best service that the NJSBDC offers for small to mid-sized businesses impacted by COVID-19 is no-cost one-to-one expert counseling. Experts at 12 regional centers across the state are available to guide business owners through various stages of business development and continuity planning to help them survive the pandemic.  Through NJSBDC’s counseling, clients can get help with identifying the problem areas, finding specific solutions, and putting plans, tactics, and goals in place to overcome every challenge.

To request an NJSBDC counseling session, go to https://njsbdc.com/contact.

National Small Business Week 2020

National Small Business Week 2020

National Small Business Week 2020

September 22 – 24, 2020

 

National Small Business Week is all about YOU and your business!    The NJSBDC network works hard for New Jersey’s small businesses every single day, but this week in particular is focused on helping you recover, pivot, succeed and thrive … online!!

Please take a look at the offerings below to help you and your business during National Small Business Week 2020.   Click on the Event Titles for descriptions and details.

Thank you for all you do and Happy Small Business Week!

 

General TopicDateTimeTitleRegional Center
Budget & FinancingTuesday, September 22, 20206:00 pm – 9:00 pmRecord Keeping for Small Business (2 Sessions)NJSBDC @ Brookdale Community College
Budget & FinancingTuesday, September 22, 20209:00 am – 10:30 amOvercoming Bookkeeping InefficienciesNJSBDC @ Stockton University
Budget & FinancingTuesday, September 22, 20209:00 am – 10:30 amOvercoming Bookkeeping InefficienciesNJSBDC @ Rutgers University – Camden
Marketing & SalesTuesday, September 22, 20206:00 pm – 9:00 pmPlanning Your New WebsiteNJSBDC @ Brookdale Community College
New BusinessTuesday, September 22, 20201:00 pm – 4:00 pmNJ Business Registration WorkshopNJSBDC @ Rutgers University – Newark
Special EventTuesday, September 22, 20201:00 pm – 4:00 pmNational Small Business WeekNJSBDC @ New Jersey City University
Budget & FinancingWednesday, September 23, 20203:00 pm – 4:30 pmCredit Management: Techniques to Establish Business Credit Webinar (CAP)NJSBDC @ Rutgers University – Newark
Budget & FinancingWednesday, September 23, 20204:00 pm – 5:30 pmFinancial Literacy Clinic (Webinar)NJSBDC @ Rutgers University – New Brunswick
Business ManagementWednesday, September 23, 20201:00 pm – 2:30 pmLegal Considerations Involving IP for Small and Start-up Businesses (CAP) WebinarNJSBDC @ Rutgers University – Newark
Business ManagementWednesday, September 23, 20202:00 pm – 3:00 pmState, County and City Minimum Wages Continue to Increase: What’s Changed, What’s Anticipated and HoNJSBDC of Northwest Jersey
Marketing & SalesWednesday, September 23, 20209:00 am – 4:00 pmPlanning Your New Website WEBINARNJSBDC @ Raritan Valley Community College
Budget & FinancingThursday, September 24, 20209:30 am – 12:30 pmQuickBooks, Level 2 (Virtual Workshop)NJSBDC @ Rutgers University – New Brunswick
Business ManagementThursday, September 24, 20206:00 pm – 9:00 pmMastering the Mental Side of BusinessNJSBDC @ Brookdale Community College
Business ManagementThursday, September 24, 20206:00 pm – 9:00 pmMastering the Mental Side of Building a Business WEBINARNJSBDC @ Raritan Valley Community College
Business ManagementThursday, September 24, 20206:00 pm – 9:00 pmMastering the Mental Side of Business – WebinarNJSBDC @ William Paterson University
Importing & ExportingOnDemandAny TimeBasics of Exporting (International Trade)NJSBDC @ New Jersey City University
Importing & ExportingOnDemandAny TimeBasics of Importing (International Trade)NJSBDC @ New Jersey City University

 

Learn more about National Small Business Week from the SBA.gov website at:  https://www.sba.gov/national-small-business-week

 

 

Changing of the Guard: An Advocate for Small Business Retires after 29 Years

Brenda B. Hopper, who has led America’s Small Business Development Center’s – New Jersey (NJSBDC) from its headquarters at Rutgers Business School since 1991, will retire effective March 31.

Hopper, who received her undergraduate degree and MBA from Rutgers, oversaw training and lobbying efforts that assisted small business owners throughout the state. She also was a visible and supportive member of the Rutgers Business School community.

Leon Fraser, an assistant professor of professional practice on the management and global business faculty and managing director of Rutgers Business School’s Executive Education Program, will step in as interim chief executive officer and state director of the New Jersey SBDC effective April 1.

The NJSBDC network provides management and technical assistance and advocates for small businesses and entrepreneurs across the state. It is primarily funded by the U.S. Small Business Administration and supported by New Jersey’s Business Action Center.

“I am proud to say that I led a team that has helped thousands of successful business owners, infusing billions of dollars into NJ’s economy,” Hopper said. “I’ve learned and shared a lot along the way.”

“Know that I am ‘Rutgers Red’ to the core and will never be too far away from my Rutgers family,” she said. “Thanks for the camaraderie and insights, smiles, laughter and tears. It’s been quite a ride!”

Fraser will step into the leadership position at a daunting time for the state’s small business community.

 

Leon Fraser at Rutgers Business School's Business Community Engagement Symposium in November.
Leon Fraser is an assistant professor of professional practice and managing director of Rutgers Business School’s Executive Education Program.

“I wish to thank Brenda for her service for the past 29 years,” he said. “At this time of leadership transition, the COVID-19 crisis presents life-threatening challenges to all New Jersey residents. It also presents many unique challenges to small businesses that have closed down, affecting owners, employees, and their customers.”

“I look forward to working with the NJSBDC regional directors who are on the front lines of providing assistance, the Small Business Administration, and the small business community,” he said.

As she steps away from her long-time role, Hopper is planning to pursue an entrepreneurial path of her own as part of the CannaBoy Treehouse business in Union.

Hopper has deep roots in Newark. She attended classes in the Newark Public School System after her family moved from North Carolina. After graduating from high school, she worked at Prudential Insurance Company before going to Rutgers University-Newark to study economics and business.

She went on to earn her MBA from the Rutgers Graduate School of Management at a time when there were few black students or women. “We had such a tight study group, that we all encouraged and helped each other,” she said in a Rutgers Business School alumni profile written in 2017.

It was during her studies as a graduate student that she first became involved with helping small business owners struggling to comeback and grow after the Newark riots.

 

-Susan Todd

Rutgers Business School, Newark & New Brunswick

Coronavirus Small Business Support | Economic Disaster Relief

SBA Emergency & Injury Disaster Loan EIDL Program for Small Businesses affected by the Coronavirus (COVID-19)

The NJSBDC network is working hard to help NJ’s small business owners overcome business issues due to the Coronavirus (COVID-19) pandemic.

Please contact your regional NJSBDC to request remote one-to-one counseling sessions for the resources, options, strategies and guidance needed to help you recover asap.

Be Safe & Be Well

 


Updated as of 3/30/20 @ 8:02am

Covonavirus Small Business Support:

Economic Disaster Relief

 

U.S. Small Business Administration (SBA)

The U.S. Small Business Administration (SBA) has set aside $50 billion in low-interest Economic Injury Disaster Loans (EIDL) for “on-going” small businesses affected by the Coronavirus.  Individual businesses may apply for up to $2 million per loan.

**The EIDL program was made available to New Jersey small businesses on 3/18/2020.

Please Note: The EIDL loans are not for a loss of income but to keep your businesses “afloat’ during this Coronavirus crisis. (i.e.: lease payments, equipment, operating assistance, employee wages, etc.)

The SBA is experiencing high volumes of traffic and the site might be slow.  Please be patient.  Non-peak hours are 7:00PM-7:00AM EDT.

INTERNET BROWSERS:

Some users are experiencing issues using Google Chrome. Please use an alternate browser – like Edge or Internet Explorer.

The recommended browser is Internet Explorer 10 or later.

    • If you have dial-up Internet service, you may experience delays.
    • You must have cookies and JavaScript enabled.
    • You should allow pop-up messages.
    • You must have Adobe Reader installed.

More Info on the SBA’s Economic Injury Disaster Loans (EIDL):

March 18 20-286 New Jersey 16349 SBA Working Capital Loans Available Due to Coronavirus

March 18 20-287 SP New Jersey 16349 SBA Working Capital Loans Available Due to Coronavirus

News Release SBA Steps in to Provide Disaster Assistance Loans to Small.._

NJDO Disaster Loan (EIDL) Application Instructions.

SBA-EIDL Application:

**NOTE:  Due to volume, the EIDL  site had to revert to paper applications.  Though the applications may be uploaded and submitted, it may take additional time to process.  We will notify you on this page when this information changes.  (3/27/20 @ 10:03am)

https://disasterloan.sba.gov/ela/Account/Login?ReturnUrl=%2Fela%2FLoanApplication%2FStartApplication

**NOTE:  When completing the application, make sure you enter your type of business AND click on  EIDL and only EIDL under type of assistance you’re seeking. THIS IS THE MAIN REASON BUSINESSES ARE GETTING DECLINED.   Also, remember this is a loan.  Credit scores, ratings and payment histories will be referenced.  Financial issues prior to the COVID-19 pandemic/ impact will be reflected in the approval/ denial of this loan.

SBA-EIDL Help-Desk:

1-800-659-2955

More from the Small Business Administration (SBA)

https://disasterloan.sba.gov/ela/

https://www.sba.gov/disaster-assistance/coronavirus-covid-19

https://www.sba.gov/disaster-assistance/coronavirus-covid-19#section-header-1

https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf

https://disasterloan.sba.gov/ela/Documents/SBA-Disaster-Assistance-Loans-Businesses-Nonprofits.pdf

SBA COVID-19 Small Business Guidance and Loan Resources

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

SBA Small Business Loan Presentation:  3-29-2020 Disaster Webinar Follow Up 3-25-2020

INCOME TAX PAYMENT DEFERRALS:

Treasury Secretary Mnuchin said that both individuals and corporations could defer income tax payments for 90 days.  For more information, go to https://www.irs.gov/coronavirus.

 

FACEBOOK GRANTS: 

Facebook has announced they will be providing $100 million in cash grants or advertising to small businesses. For more information, go to www.facebook.com/grantsforbusiness.

KIVA LOANS:

The nonprofit organization Kiva provides 0% interest loans to small businesses worldwide. Kiva is expanding eligibility and the number of loans provided during this crisis. For more information, go to https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic.

LENDER & CORPORATE SMALL BUSINESS ASSISTANCE PROGRAMS:

Source: Forbes

Many banks have offered deferment and forbearance to business loan customers having trouble making payments. Check Forbes’ list of banks offering relief. You can also search for your bank on the American Bankers Association’s ongoing A-Z list of coronavirus response programs.  Read Original Article

WEFUNDER CORONAVIRUS CRISIS LOAN:

Wefunder has funded ~$130M in hundreds of small businesses from over 400,000 investors. If your business has customers who care, we can help. Or, if there’s a small business you care about, nominate them for funding.  To learn more, go to:

https://wefunder.com/loans

GOOGLE COVID-19 SMALL BUSINESS SUPPORT

Google has designated over $800 million to help address some of the COVID-19 challenges to support small- and medium-sized businesses (SMBs), health organizations and governments, and health workers on the frontline of this global pandemic. For more information go to:

https://blog.google/inside-google/company-announcements/commitment-support-small-businesses-and-crisis-response-covid-19

PROVIDENT BANK 501(C)3 NON PROFIT SUPPORT

SOURCE: NJ Biz, Jessica Perry

Provident Bank Foundation committed $125,000 toward grants for 501(c)(3) organizations. Groups can submit applications beginning March 30, and may request up to $5,000.  To learn more, go to:

https://njbiz.com/provident-bank-foundation-offers-125k-covid-19-impacted-nonprofits/


Return to Main Coronavirus page

 


 

If you have additional questions, please contact your regional NJSBDC or visit our website at www.njsbdc.com .

 

Thank you, be well and be safe.

Coronavirus Small Business Support | Health & Safety

The NJSBDC network is working hard to help NJ’s small business owners overcome business issues due to the Coronavirus (COVID-19) pandemic.

Please contact your regional NJSBDC to request remote one-to-one counseling sessions for the resources, options, strategies and guidance needed to help you recover asap.

Be Safe & Be Well

 


Updated as of 3/27/20 @ 4:50pm

Covonavirus Small Business Support:

Health & Safety

 

Guidance from the CDC:

NJ Department of Health:

https://www.nj.gov/health/cd/topics/ncov.shtml

 


Return to Main Coronavirus page?

 


 

If you have additional questions, please contact your regional NJSBDC or visit our website at www.njsbdc.com .

 

Thank you, be well and be safe.

Coronavirus Small Business Support | Employee Information & Resources

The NJSBDC network is working hard to help NJ’s small business owners overcome business issues due to the Coronavirus (COVID-19) pandemic.

Please contact your regional NJSBDC to request remote one-to-one counseling sessions for the resources, options, strategies and guidance needed to help you recover asap.

Be Safe & Be Well

 


Updated as of 4/6/20 @ 12:55pm

Covonavirus Small Business Support:

Employee Information & Resources

 

State of New Jersey:

 

The State of New Jersey has established a special website devoted to business concerns during the Coronavirus emergency. The site, cv.business.nj.gov, will be updated as new information becomes available. We encourage you to communicate this with the appropriate individuals within your organization.

New Jersey Business Action Center (BAC):

In addition, the New Jersey Business Action Center’s Helpline is now available from 8:00 am – 9:00 pm, seven days a week. Call 1-800-JERSEY-7 to address any concerns you or your employees have.

New Jersey Department of Health:

https://www.nj.gov/health/cd/topics/covid2019_schoolbusiness.shtml

New Jersey Department of Labor:

https://www.nj.gov/labor/employer-services/business/covid.shtml

https://www.nj.gov/labor/assets/PDFs/COVID-19%20SCENARIOS.pdf

https://www.nj.gov/labor/assets/PDFs/NJWorkersFAQs.pdf

New Jersey Economic Development Authority (NJEDA)

https://www.njeda.com/about/Public-Information/Coronavirus-Information

NJ Department of Labor Information For Employees regarding Sick Leave: 

https://www.nj.gov/labor/worker-protections/earnedsick/covid.shtml


US Government:

FAQs: Employee Retention Credit under the CARES Act

SOURCE:  Internal Revenue Service

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, is designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an employee retention tax credit (Employee Retention Credit).

The Families First Coronavirus Relief Act (FFCRA) requires certain employers to pay sick or family leave wages to employees who are unable to work or telework due to certain circumstances related to COVID-19. Employers are entitled to a refundable tax credit for the required leave paid, up to specified limits. [See FAQs]. The same wages cannot be counted for both credits.

READ MORE:

https://www.irs.gov/newsroom/faqs-employee-retention-credit-under-the-cares-act

 

Families First Coronavirus Response Act: Employer Paid Leave Requirements

SOURCE:  U.S. Department of Labor

The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.[1] The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from the effective date through December 31, 2020.

Generally, the Act provides that covered employers must provide to all employees:[2]

      • Two weeks (up to 80 hours) of paid sick leave at the employee’s regular rate of pay where the employee is unable to work because the employee is quarantined (pursuant to Federal, State, or local government order or advice of a health care provider), and/or experiencing COVID-19 symptoms and seeking a medical diagnosis; or
      • Two weeks (up to 80 hours) of paid sick leave at two-thirds the employee’s regular rate of pay because the employee is unable to work because of a bona fide need to care for an individual subject to quarantine (pursuant to Federal, State, or local government order or advice of a health care provider), or care for a child (under 18 years of age) whose school or child care provider is closed or unavailable for reasons related to COVID-19, and/or the employee is experiencing a substantially similar condition as specified by the Secretary of Health and Human Services, in consultation with the Secretaries of the Treasury and Labor.

A covered employer must provide to employees that it has employed for at least 30 days:[3]

      • Up to an additional 10 weeks of paid expanded family and medical leave at two-thirds the employee’s regular rate of pay where an employee is unable to work due to a bona fide need for leave to care for a child whose school or child care provider is closed or unavailable for reasons related to COVID-19.

Covered Employers: The paid sick leave and expanded family and medical leave provisions of the FFCRA apply to certain public employers, and private employers with fewer than 500 employees.[4] Most employees of the federal government are covered by Title II of the Family and Medical Leave Act, which was not amended by this Act, and are therefore not covered by the expanded family and medical leave provisions of the FFCRA. However, federal employees covered by Title II of the Family and Medical Leave Act are covered by the paid sick leave provision.

Small businesses with fewer than 50 employees may qualify for exemption from the requirement to provide leave due to school closings or child care unavailability if the leave requirements would jeopardize the viability of the business as a going concern.

Qualifying Reasons for Leave:

Under the FFCRA, an employee qualifies for paid sick time if the employee is unable to work (or unable to telework) due to a need for leave because the employee:

        1. is subject to a Federal, State, or local quarantine or isolation order related to COVID-19;
        2. has been advised by a health care provider to self-quarantine related to COVID-19;
        3. is experiencing COVID-19 symptoms and is seeking a medical diagnosis;
        4. is caring for an individual subject to an order described in (1) or self-quarantine as described in (2);
        5. is caring for a child whose school or place of care is closed (or child care provider is unavailable) for reasons related to COVID-19; or
        6. is experiencing any other substantially-similar condition specified by the Secretary of Health and Human Services, in consultation with the Secretaries of Labor and Treasury.

Under the FFCRA, an employee qualifies for expanded family leave if the employee is caring for a child whose school or place of care is closed (or child care provider is unavailable) for reasons related to COVID-19.

Duration of Leave:

For reasons (1)-(4) and (6): A full-time employee is eligible for up to 80 hours of leave, and a part-time employee is eligible for the number of hours of leave that the employee works on average over a two-week period.

For reason (5): A full-time employee is eligible for up to 12 weeks of leave at 40 hours a week, and a part-time employee is eligible for leave for the number of hours that the employee is normally scheduled to work over that period.

Calculation of Pay:[5]

For leave reasons (1), (2), or (3): employees taking leave shall be paid at either their regular rate or the applicable minimum wage, whichever is higher, up to $511 per day and $5,110 in the aggregate (over a 2-week period).

For leave reasons (4) or (6): employees taking leave shall be paid at 2/3 their regular rate or 2/3 the applicable minimum wage, whichever is higher, up to $200 per day and $2,000 in the aggregate (over a 2-week period).

For leave reason (5): employees taking leave shall be paid at 2/3 their regular rate or 2/3 the applicable minimum wage, whichever is higher, up to $200 per day and $12,000 in the aggregate (over a 12-week period—two weeks of paid sick leave followed by up to 10 weeks of paid expanded family and medical leave).[6]

Tax Credits: Covered employers qualify for dollar-for-dollar reimbursement through tax credits for all qualifying wages paid under the FFCRA. Qualifying wages are those paid to an employee who takes leave under the Act for a qualifying reason, up to the appropriate per diem and aggregate payment caps. Applicable tax credits also extend to amounts paid or incurred to maintain health insurance coverage. For more information, please see the Department of the Treasury’s website.

Employer Notice: Each covered employer must post in a conspicuous place on its premises a notice of FFCRA requirements.[7]

Prohibitions: Employers may not discharge, discipline, or otherwise discriminate against any employee who takes paid sick leave under the FFCRA and files a complaint or institutes a proceeding under or related to the FFCRA.

Penalties and Enforcement: Employers in violation of the first two weeks’ paid sick time or unlawful termination provisions of the FFCRA will be subject to the penalties and enforcement described in Sections 16 and 17 of the Fair Labor Standards Act. 29 U.S.C. 216; 217. Employers in violation of the provisions providing for up to an additional 10 weeks of paid leave to care for a child whose school or place of care is closed (or child care provider is unavailable) are subject to the enforcement provisions of the Family and Medical Leave Act. The Department will observe a temporary period of non-enforcement for the first 30 days after the Act takes effect, so long as the employer has acted reasonably and in good faith to comply with the Act.  For purposes of this non-enforcement position, “good faith” exists when violations are remedied and the employee is made whole as soon as practicable by the employer, the violations were not willful, and the Department receives a written commitment from the employer to comply with the Act in the future.

READ MORE:

https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave

Congress Finalizes COVID-19 Coronavirus Response Act: Prepare To Provide Paid Sick Leave And FMLA: 

https://www.fisherphillips.com/resources-alerts-congress-finalizes-covid-19-coronavirus-response-act

 


Additional Employee Resources:

 

Google Tools and Tips:

Google’s help center has suggestions for businesses affected by the coronavirus pandemic, regarding updates to their business information on Google My Business, including:

          • Changing your business hours if necessary;
          • Adding information about how your business has been affected and what steps you’re taking;
          • Creating a post;
          • Updating your phone number if necessary;
          • To see all of Google’s update suggestions, click here.

 

Working Remotely?

We encourage you to visit the New Jersey Department of Labor’s website to keep abreast of statewide developments that can directly affect your business and your employees.

But it’s very likely that your business may be forced to work remotely. To assist you in conducting business virtually, we have compiled a list of vendors. We do not endorse one vendor over another but simply provide you with a comprehensive list.

 


Return to Main Coronavirus page?

 


 

If you have additional questions, please contact your regional NJSBDC or visit our website at www.njsbdc.com .

 

Thank you, be well and be safe.

Coronavirus Small Business Support | Additional Support & Resources

The NJSBDC network is working hard to help NJ’s small business owners overcome business issues due to the Coronavirus (COVID-19) pandemic.

Please contact your regional NJSBDC to request remote one-to-one counseling sessions for the resources, options, strategies and guidance needed to help you recover asap.

Be Safe & Be Well

 


Updated as of 3/27/20 @ 4:50pm

Covonavirus Small Business Support:

Additional Support & Resources

 

 


Return to Main Coronavirus page

 


 

If you have additional questions, please contact your regional NJSBDC or visit our website at www.njsbdc.com .

 

Thank you, be well and be safe.

 

The NJSBDC Network, Coronavirus & Your Business

 

** NOTE – AS OF 4/20/2020, THIS PAGE IS NO LONGER BEING UPDATED – FOR IMMEDIATE/ REGULAR UPDATES, PLEASE GO TO https://njSmallBusinessHelp.com**

 

 

Updated as of 4/20/2020 @ 9:00am

Current Status of the NJSBDC Statewide Network

The NJSBDC network is working remotely to help NJ’s small business owners overcome business issues regarding the Coronavirus (COVID-19) pandemic.  All counseling sessions and training programs are being done using online services to keep everyone healthy and safe.  Large events are being postponed to a later time.

Please contact your regional NJSBDC or visit www.NJSBDC.com to discuss how your regional NJSBDC will be able to continue your one-to-one counseling sessions and updates on upcoming scheduled programs.

Be Safe & Be Well


To better assist NJ’s small business owners and entrepreneurs, we have

prepared the following resources as we know them.   

This webpage is being updated daily.


NOTE:

For Real Time New Jersey SMS/ Text Updates regarding COVID:

Text NJCOVID to 898-211

 


Immediate Updates regarding New Jersey’s Small Business Status:

NJSBDC Statewide Network Launches COVID-19 Small Business Resource and Support Website

SOURCE:  NJSBDC Statewide Network

UPDATED:  4/20/2020 @ 9:00am

The NJSBDC launched a new website to centralize all updates, information, resources and support for New Jersey’s small business community.

The new site is helpful to small business owners by streamlining information into 5 categoriesImportant Updates (Federal/ State), Economic Resources, Employee Resources, Health & Safety (including cyber security) and Additional Resources.  It also enables small businesses to directly request help from local regional centers by making requests for counseling easier to access.

Please go to https://NJSmallBusinessHelp.com for routine updates on all matters important to New Jersey’s small business community and support.

READ MORE:

https://NJSmallBusinessHelp.com

 


 

Immediate Updates regarding New Jersey’s Small Business Status:

NJEDA Partners with CDFIs to Support Low-Cost Financing for Small Businesses and Nonprofits Impacted by COVID-19

SOURCE:  Business.NJ.gov

UPDATED:  4/20/2020 @ 7:48am; 4/17/2020 @ 5:43pm

On April 17, 2020, the New Jersey Economic Development Authority (NJEDA) announced partnerships with six Community Development Financial Institutions (CDFIs). These partnerships will leverage New Jersey-based CDFIs to provide between $20 million and $30 million in low-cost financing to small and microbusinesses and nonprofits impacted by the COVID-19 outbreak.

New Jersey Community Capital (NJCC), UCEDC, Regional Business Assistance Corporate (RBAC), Cooperative Business Assistance Corporation (CBAC), Greater Newark Enterprise Corporation (GNAC), and 1st Bergen Federal Credit Union will be participating in the Authority’s new CDFI Emergency Loan Loss Reserve Fund, and all but 1st Bergen Federal Credit Union will also take part in the new CDFI Emergency Assistance Grant Program.

The CDFI Emergency Loan Loss Reserve Fund is a $10 million capital reserve fund that the NJEDA will use to take a first loss position on CDFI COVID-related loans that provide low-interest working capital to microbusinesses that have been negatively impacted by the outbreak. The NJEDA will back these loans up to 50% if they default in the future. This will allow the CDFI partners to increase their capacity and participate in more loans, at flexible term and lower interest rates.

The CDFI Emergency Assistance Grant Program is a $1.25 million program that will provide five CDFIs grants of $250,000. These grants will help the CDFIs scale their operations due to the high demand for assistance from business owners and buy down interest rates on their loans to offer borrowers more flexible loan terms at lower rates to help small and micro businesses survive during this COVID-19 outbreak.

The NJEDA’s role in these programs is to support participating CDFIs. Businesses and nonprofits seeking financing should contact the CDFIs directly.

Source: njeda.com/cdfipartnershiprelease

READ MORE:

https://faq.business.nj.gov/en/articles/3835240-how-is-njeda-partnering-with-cdfis-to-support-low-cost-financing-for-small-businesses-and-nonprofits-impacted-by-covid

 


Immediate Updates regarding New Jersey’s Small Business Status:

NJEDA Small Business Emergency Assistance Loan – Application now closed

SOURCE:  Business.NJ.gov

UPDATED:  4/17/2020 @ 7:58am

UPDATE 4/16/2020: Applications for this program are currently closed.

In response to the economic challenges being faced by New Jersey small businesses due to the COVID-19 outbreak, the New Jersey Economic Development Authority (NJEDA) has created the Small Business Emergency Assistance Loan Program. The $10 million program will make direct low-cost financing available to allow New Jersey small businesses and non-profits to cover operating expenses and ensure continuity of operations during the outbreak.

Applications for this program are now closed.

You may access a copy of the loan application to help you prepare your submission. Completed applications will be considered on a first come, first serve rolling basis. To see whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard.

Information from Initial Round of Loan Funding

The Small Business Emergency Assistance Loan program is designed to provide a direct loan of up to $100,000 to NJ-based small businesses and non-profits organizations that have been in existence for at least one-year and has less than $5 million in annual revenue. These businesses much have been negatively impacted by the COVID-19 outbreak (including, but not limited to: reduction of business hours, complete closure of business, at least a 20% decline in revenue, employees unable to work, required to close by government, or disruption of supply chain).

Your organization is eligible for the Small Business Emergency Assistance Loan Program if you…

    • Have a physical commercial location in the State of NJ. Home-based businesses are not eligible for this program. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
    • Have been in existence for at least one year
    • Have less than $5M annual revenue
    • Can show a global debt service coverage ratio of 1.00 (as of December 31st, 2019)
    • Are able to demonstrate negative impact related to COVID-19 on or after March 9th, 2020
    • Are registered to do business in the State of NJ
    • Must certify that the company is in good tax standing with the State
    • Are in good standing with the Department of Labor and Workforce Development, with all decisions of good standing at the discretion of the Commissioner of the Department of Labor and Workforce Development
    • Are able to provide a CEO certification that the firm will make its best-effort to not lay off employees or will re-hire employees as soon as possible
    • Non-profit organizations are eligible for this program; eligible non-profits must have status of 501(c)(3), 501(c)(4), 501(c)(7)

Types of businesses not eligible:

    • Related to gambling or gaming activities
    • Related to the purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices)
    • Auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale
    • Traveling merchant
    • Christmas tree sales or other outdoor storage
    • Any other activity constituting a nuisance
    • Illegal under the laws of the State of New Jersey

This program is structured specifically for entities facing economic challenges due to COVID-19 and provides low-cost and flexible terms, such as:

    • 10-year term and amortization
    • 0% interest rate (years 1-5), NJEDA’s prevailing interest rate floor (capped at 3.0% years 6-10)
    • Deferred repayments for 12 months

There are no fees associated with the Small Business Emergency Loan Program for the first five years of the loan, including application fees, and then standard modification fees will apply.

In order to apply for the loan, businesses will need to provide the following…

Contact information for someone who is authorized to speak on behalf of your company. For example: an owner or an executive such as a CEO or Executive Director

Basic information about your company

    1. Registered legal name and “Doing Business As” name. To confirm your organization’s registered legal name: https://www.njportal.com/DOR/BusinessNameSearch/Search/BusinessName
    2. Federal Employer Identification Number (EIN)
    3. Date your company was established
    4. Number of Full-time employees as of December 31, 2019, Part-Time Employees as of December 31, 2019, and other workers (ie 1099 or contracted employees) as of December 31, 2019
    5. Prior year’s annual revenue
    6. Brief description about the organization (2-3 sentences about what you do)
    7. Formation documents
    8. Organization’s industry as defined by your NAICS code. To confirm your NAICS code, check your federal tax filing or use this site to look up your NAICS code: https://www.naics.com/search/

Ownership Information 

    1. Identify the owners of your organization and their respective percentage of ownership
    2. For those with 10% or more ownership interest, be prepared to provide: Filed Personal Federal Tax returns for the most recent 3 years; Personal financial statement

Corporate Financial Information

    1. Up to 3 years of the most recent filings of your Corporate Federal Tax returns depending on number of years in existence
    2. Internally prepared statements (Profit & Loss and Balance Sheet), if 2019 has not been filed
    3. Interim statements (Profit & Loss and Balance Sheet), if internally prepared statements are greater than 90 days old
    4. Information relating to existing debts (type, creditor, date debt was incurred, maturity date, present balance, interest rate, minimum payment, extra payment , status, collateral for debt)

Identify Use of Loan Proceeds a. Depending on the category(ies) requested (payroll, rent/mortgage, taxes, utilities, etc.), be prepared to provide:

    1. Amount
    2. Timeframe that the request covers
    3. Supporting documentation for each category (e.g.- if rent, provide lease)

If loan request does not cover all expenses listed, be prepared to identify and document sources to cover the gap (e.g.- equity, bank financing, etc.)

Identify potential collateral for the loan. List any unencumbered real properties that are owned

    1. solely by the applicant business;
    2. by any individual having a 10% or more ownership position in the applicant, or
    3. by a related entity having the same ownership structure of the applicant and that property is occupied by the applicant.

Provide all leases associated with the listed commercial/investment properties.

Be able to answer the State’s basic debarment question. To see the full application and read the State debarment questions, see above.

Be able to affirmatively answer and/or certify that:

    1. You are not a home-based business
    2. You are not a prohibited business
    3. You have been impacted by the COVID-19 outbreak
    4. You will make a best effort not to lay off any additional employees and re-hire any whom you have already laid off
    5. Information you are providing is correct
    6. You will allow the NJEDA to check your entries against other State sources of data
    7. You will authorize NJEDA to obtain a credit report on all guarantors
    8. You are current on all state obligations.

If a loan is offered, you’ll be asked to provide following 

    1. Evidence of proper business insurance coverages
    2. Copies of a government issued photo identification document for all individuals who may become party to the loan
    3. ACH details to enable transmission of proceeds

Updated: April 16, 2020
Source: NJEDA

 READ MORE:

https://faq.business.nj.gov/en/articles/3835238-how-do-i-apply-to-the-njeda-small-business-emergency-assistance-loan-application-now-closed


Immediate Updates regarding New Jersey’s Small Business Status:

APPLICATION CLOSING!  NJEDA’s Small Business Emergency Assistance Loan Program Closed  – 4/16/20 @ 12pm

SOURCE:  Business.NJ.gov

UPDATED:  4/16/2020 @ 7:52am; 4/15/2020 @ 5:55pm

UPDATE 9:28 A.M. 4/13/2020: Please be advised that based on applications already received, funding for this program is now oversubscribed.

Applicants may continue to apply so that NJEDA has your information should additional funding become available, but further applicants should not expect a review or decision for this round of funding.

Apply for the Small Business Emergency Assistance Loan.

In response to the economic challenges being faced by New Jersey small businesses due to the COVID-19 outbreak, the New Jersey Economic Development Authority (NJEDA) has created the Small Business Emergency Assistance Loan Program. The $10 million program will make direct low-cost financing available to allow New Jersey small businesses and non-profits to cover operating expenses and ensure continuity of operations during the outbreak.

You may access a copy of the loan application to help you prepare your submission. Completed applications will be considered on a first come, first serve rolling basis. To see whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard.

The Small Business Emergency Assistance Loan program is designed to provide a direct loan of up to $100,000 to NJ-based small businesses and non-profits organizations that have been in existence for at least one-year and has less than $5 million in annual revenue. These businesses much have been negatively impacted by the COVID-19 outbreak (including, but not limited to: reduction of business hours, complete closure of business, at least a 20% decline in revenue, employees unable to work, required to close by government, or disruption of supply chain).

Your organization is eligible for the Small Business Emergency Assistance Loan Program if you…

      • Have a physical commercial location in the State of NJ. Home-based businesses are not eligible for this program. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
      • Have been in existence for at least one year
      • Have less than $5M annual revenue
      • Can show a global debt service coverage ratio of 1.00 (as of December 31st, 2019)
      • Are able to demonstrate negative impact related to COVID-19 on or after March 9th, 2020
      • Are registered to do business in the State of NJ
      • Must certify that the company is in good tax standing with the State
      • Are in good standing with the Department of Labor and Workforce Development, with all decisions of good standing at the discretion of the Commissioner of the Department of Labor and Workforce Development
      • Are able to provide a CEO certification that the firm will make its best-effort to not lay off employees or will re-hire employees as soon as possible
      • Non-profit organizations are eligible for this program; eligible non-profits must have status of 501(c)(3), 501(c)(4), 501(c)(7)

Types of businesses not eligible:

      • Related to gambling or gaming activities
      • Related to the purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices)
      • Auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale
      • Traveling merchant
      • Christmas tree sales or other outdoor storage
      • Any other activity constituting a nuisance
      • Illegal under the laws of the State of New Jersey

This program is structured specifically for entities facing economic challenges due to COVID-19 and provides low-cost and flexible terms, such as:

      • 10-year term and amortization
      • 0% interest rate (years 1-5), NJEDA’s prevailing interest rate floor (capped at 3.0% years 6-10)
      • Deferred repayments for 12 months

There are no fees associated with the Small Business Emergency Loan Program for the first five years of the loan, including application fees, and then standard modification fees will apply.

In order to apply for the loan, businesses will need to provide the following…

Contact information for someone who is authorized to speak on behalf of your company. For example: an owner or an executive such as a CEO or Executive Director

Basic information about your company

      1. Registered legal name and “Doing Business As” name. To confirm your organization’s registered legal name: https://www.njportal.com/DOR/BusinessNameSearch/Search/BusinessName
      2. Federal Employer Identification Number (EIN)
      3. Date your company was established
      4. Number of Full-time employees as of December 31, 2019, Part-Time Employees as of December 31, 2019, and other workers (ie 1099 or contracted employees) as of December 31, 2019
      5. Prior year’s annual revenue
      6. Brief description about the organization (2-3 sentences about what you do)
      7. Formation documents
      8. Organization’s industry as defined by your NAICS code. To confirm your NAICS code, check your federal tax filing or use this site to look up your NAICS code: https://www.naics.com/search/

Ownership Information 

      1. Identify the owners of your organization and their respective percentage of ownership
      2. For those with 10% or more ownership interest, be prepared to provide: Filed Personal Federal Tax returns for the most recent 3 years; Personal financial statement

Corporate Financial Information

      1. Up to 3 years of the most recent filings of your Corporate Federal Tax returns depending on number of years in existence
      2. Internally prepared statements (Profit & Loss and Balance Sheet), if 2019 has not been filed
      3. Interim statements (Profit & Loss and Balance Sheet), if internally prepared statements are greater than 90 days old
      4. Information relating to existing debts (type, creditor, date debt was incurred, maturity date, present balance, interest rate, minimum payment, extra payment , status, collateral for debt)

Identify Use of Loan Proceeds a. Depending on the category(ies) requested (payroll, rent/mortgage, taxes, utilities, etc.), be prepared to provide:

      1. Amount
      2. Timeframe that the request covers
      3. Supporting documentation for each category (e.g.- if rent, provide lease)

If loan request does not cover all expenses listed, be prepared to identify and document sources to cover the gap (e.g.- equity, bank financing, etc.)

Identify potential collateral for the loan. List any unencumbered real properties that are owned

      1. solely by the applicant business;
      2. by any individual having a 10% or more ownership position in the applicant, or
      3. by a related entity having the same ownership structure of the applicant and that property is occupied by the applicant.

Provide all leases associated with the listed commercial/investment properties.

Be able to answer the State’s basic debarment question. To see the full application and read the State debarment questions, see above.

Be able to affirmatively answer and/or certify that:

      1. You are not a home-based business
      2. You are not a prohibited business
      3. You have been impacted by the COVID-19 outbreak
      4. You will make a best effort not to lay off any additional employees and re-hire any whom you have already laid off
      5. Information you are providing is correct
      6. You will allow the NJEDA to check your entries against other State sources of data
      7. You will authorize NJEDA to obtain a credit report on all guarantors
      8. You are current on all state obligations.

If a loan is offered, you’ll be asked to provide following 

      1. Evidence of proper business insurance coverages
      2. Copies of a government issued photo identification document for all individuals who may become party to the loan
      3. ACH details to enable transmission of proceeds

Updated: April 15, 2020
Source: NJEDA

READ MORE:

https://faq.business.nj.gov/en/articles/3835238-how-do-i-apply-to-the-njeda-small-business-emergency-assistance-loan-application-will-close-thursday-april-16-at-noon


Survive & Thrive Growth Summit:

Hosted by Entrepreneur and Author, Ramon Ray, the Survive and Thrive Summit 2020 brings together leading brands, experts and entrepreneurs to acknowledge the challenges we face so we can pull together to push forward and thrive.

The Survive and Thrive Summit 2020 is a multi-hour online conference, curated to inspire and encourage business owners and entrepreneurs.

Each segment is curated to leave you with practical tips and insights to grow your business “today” and “tomorrow”.

If you’re an entrepreneur, small business owner or freelancer, this FREE event is for you.

You’ll leave refreshed, inspired and armed with tips and strategies to get through these challenging times, rebound and look towards the future.

Topics include:

·    Managing Now While Planning for the Future

·    Resilient Leadership: Thriving Through Change

·    Your Tech. Your People. Maximizing Your Resources

·    Startup Success: How To Hustle and Grind

·    Built to Serve: Finding Your Purpose

·    Your Government and Your Business – Featuring America’s SBDC President/CEO, Charles “Tee” Rowe

·    Stretch Your Finances and Make Your Money Work for You

·    Leveraging Your Community and Networking Online

·    Street Survival – Bringing Back Americas Small Businesses

·    Selling (More) Online – E-commerce Power Hour

·    Plus! Three Dell XPS computer giveaways!


Watch ASBDC Webinar:

“Business Resiliency: Keeping the Lights On”

An actionable business resiliency plan could mean the difference between business continuity or closure.
Join Grow with Google and America’s SBDC for a no-cost Business Resiliency webinar, “Keeping the Lights On”. This webinar includes an introduction to a 25-page guide to help small business owners prepare to respond quickly and recover from disruptions. Webinar participants will receive the ‘Business Resiliency Guide’ and a ‘Business Resiliency Plan’ template they can customize to meet the specific needs of their business.
Keeping the Lights On will cover how to:
· Identify your critical resources
· Plan to use alternative resources
· Respond with your plan
· Bring your business back to normal

 

Includes FAQs from previous webinars

VIEW WEBINAR HERE:
DOWNLOAD SMALL BUSINESS RESILIENCY GUIDE HERE:

Immediate Updates regarding New Jersey’s Small Business Status:

Mitigation Protocols Required for Businesses Continuing to Operate

SOURCE:  Business.NJ.gov

UPDATED:  4/14/2020 @ 7:56am

If any business is violating these guidelines, please report it at covid19.nj.gov/violation.

Requirements for All Businesses Continuing to Operate

Owners of buildings used for commercial, industrial, or other enterprises, and of residential buildings with at least 50 units, must implement the following policies at minimum:

        • Clean and disinfect high-touch areas routinely in accordance with CDC guidelines, particularly in spaces accessible to staff, customers, tenants, or other individuals, particularly following a known or potential exposure;
        • Maintain current cleaning procedures in all other areas of the facility;
        • Ensure that the facility has a sufficient number of workers to perform the above protocols effectively.

Additional Requirements for Bars and Restaurants

Restaurants, cafeterias, food courts, bars, etc., that are still permitted to operate must adopt the following policies:

        • Limit occupancy to 10% of stated maximum capacity;
        • Ensure 6 feet of distance between workers and customers except at the moment of payment or exchange of goods;
        • Arrange for contactless pay options, pickup, or delivery wherever possible;
        • Provide hand sanitizer and wipes to staff and customers;
        • Frequently sanitize high-touch areas like credit card machines, keypads, and counters;
        • Require infection control practices such as regular hand washing, coughing and sneezing etiquette, and proper tissue usage;
        • Place conspicuous signage at entrances and throughout the food business alerting staff and customers to the required 6 feet of distance;
        • Require workers and customers to wear cloth face coverings, and require workers to wear gloves. A business must provide, at its own expense, these face coverings and gloves for employees. Customers may be exempted if it would inhibit their health, or if under two years of age. If a customer refuses, they must be denied entry, but another method of pickup should be provided.

Additional Requirements for Transportation Carriers

        • Transportation carriers must cut capacity on all trains, buses, light rail vehicles, and paratransit vehicles to 50% of their maximum, effective Monday, April 13, 2020, at 8:00 p.m.
        • Require infection control practices such as regular hand washing, coughing and sneezing etiquette, and proper tissue usage;
        • Arrange for contactless pay options wherever possible;
        • Arrange for back door entry on buses wherever feasible, and take seats out of service near the bus operator to allow for proper social distancing from the bus operator;
        • Place conspicuous signage throughout buses, light rail and Access Link vehicles alerting workers and customers to the required 6 feet of distance;
        • Transportation carriers must provide their workers with face coverings and gloves, effective
        • Require workers and customers to wear cloth face coverings, and require workers to wear gloves. A carrier must provide, at its own expense, these face coverings and gloves for employees. Customers may be exempted if it would inhibit their health, or if under two years of age. If a customer refuses, they must be denied entry, unless the business is providing medication, medical supplies, or food, in which case another method of pickup should be provided.

Additional Requirements For Essential Retail AND Manufacturing, Warehousing, and Essential Construction

All businesses of these types must adopt the following policies:

Additional Requirements for Manufacturing, Warehousing, and Essential Construction

Businesses that are still permitted to operate must adopt the following policies:

        • Prohibit non-essential visitors from the worksite;
        • Limit all worksite meetings and groups to fewer than 10 people;
        • Require everyone to maintain 6 feet of social distancing wherever possible;
        • Stagger start and stop times to limit the number of people entering and leaving at the same time;
        • Stagger lunch breaks and work times to minimize the number of people on site while safely continuing operations;
        • Restrict the number of individuals who can access common areas such as restrooms and breakrooms at the same time;
        • Require workers and visitors to wear cloth face coverings, and require workers to wear gloves. A business must provide, at its own expense, these face coverings and gloves for employees. A workers or visitor may be exempted if it would inhibit their health. If a visitor refuses for a non-medical reason, they must be denied entry.
        • Require infection control practices such as regular hand washing, coughing and sneezing etiquette, and proper tissue usage;
        • Limit sharing of tools, equipment, and machinery;
        • Provide hand sanitizer and wipes to workers and visitors;
        • Require frequent sanitization of high-touch areas like restrooms, breakrooms, equipment, and machinery.

Additional Requirements for Essential Retail

Essential retail businesses that are still permitted to operate must adopt the following policies:

        • Limit occupancy to 50% of maximum store capacity at one time;
        • Establish hours of operation specifically for the exclusive use of high-risk individuals;
        • Install a physical barrier, such as a shield guard, between customers and cashiers/baggers where possible and anywhere you cannot maintain 6 feet of distance;
        • Require regular hand washing, coughing and sneezing etiquette, and proper tissue usage and disposal;
        • Provide employees break time for regular hand washing;
        • Arrange for contactless pay options, pickup, or delivery of goods wherever possible;
        • Provide hand sanitizer and wipes to staff and customers;
        • Frequently sanitize high-touch areas like restrooms, credit card machines, keypads, counters and shopping carts;
        • Require infection control practices such as regular hand washing, coughing and sneezing etiquette, and proper tissue usage;
        • Place conspicuous signage at entrances and throughout the store alerting staff and customers to the required 6 feet of distance;
        • Demarcate 6 feet of spacing in check-out lines to demonstrate appropriate social distancing;
        • Require workers and customers to wear cloth face coverings, and require workers to wear gloves. A business must provide, at its own expense, these face coverings and gloves for employees. Customers may be exempted if it would inhibit their health, or if under two years of age. If a customer refuses, they must be denied entry, unless the business is providing medication, medical supplies, or food, in which case another method of pickup should be provided.

READ MORE:

https://faq.business.nj.gov/en/articles/3839687-what-mitigation-protocols-are-required-for-businesses-continuing-to-operate

 


Immediate Updates regarding New Jersey’s Small Business Status:

NJEDA’s Small Business Emergency Assistance Loan Program Opened 4/13/20 @ 9am

SOURCE:  NJ State, Dept. of Labor & Workforce Development, Division of Unemployment Insurance

UPDATED:  4/13/2020 @ 7:55am

In response to the economic challenges being faced by New Jersey small businesses due to the COVID-19 outbreak, the New Jersey Economic Development Authority (NJEDA) has created the Small Business Emergency Assistance Loan Program. The $10 million program will make direct low-cost financing available to allow New Jersey small businesses and non-profits to cover operating expenses and ensure continuity of operations during the outbreak.

You may now access a copy of the loan application to help you prepare your submission. Completed applications will be considered on a first come, first serve rolling basis. To see whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard.

The Small Business Emergency Assistance Loan program is designed to provide a direct loan of up to $100,000 to NJ-based small businesses and non-profits organizations that have been in existence for at least one-year and has less than $5 million in annual revenue. These businesses much have been negatively impacted by the COVID-19 outbreak (including, but not limited to: reduction of business hours, complete closure of business, at least a 20% decline in revenue, employees unable to work, required to close by government, or disruption of supply chain).

Your organization is eligible for the Small Business Emergency Assistance Loan Program if you…

      • Have a physical commercial location in the State of NJ. Home-based businesses are not eligible for this program. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
      • Have been in existence for at least one year
      • Have less than $5M annual revenue
      • Can show a global debt service coverage ratio of 1.00 (as of December 31st, 2019)
      • Are able to demonstrate negative impact related to COVID-19 on or after March 9th, 2020
      • Are registered to do business in the State of NJ
      • Must certify that the company is in good tax standing with the State
      • Are in good standing with the Department of Labor and Workforce Development, with all decisions of good standing at the discretion of the Commissioner of the Department of Labor and Workforce Development
      • Are able to provide a CEO certification that the firm will make its best-effort to not lay off employees or will re-hire employees as soon as possible
      • Non-profit organizations are eligible for this program; eligible non-profits must have status of 501(c)(3), 501(c)(4), 501(c)(7)

Types of businesses not eligible:

      • Related to gambling or gaming activities
      • Related to the purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices)
      • Auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale
      • Traveling merchant
      • Christmas tree sales or other outdoor storage
      • Any other activity constituting a nuisance
      • Illegal under the laws of the State of New Jersey

This program is structured specifically for entities facing economic challenges due to COVID-19 and provides low-cost and flexible terms, such as:

      • 10-year term and amortization
      • 0% interest rate (years 1-5), NJEDA’s prevailing interest rate floor (capped at 3.0% years 6-10)
      • Deferred repayments for 12 months

There are no fees associated with the Small Business Emergency Loan Program for the first five years of the loan, including application fees, and then standard modification fees will apply.

LEARN MORE:

https://faq.business.nj.gov/en/articles/3835238-how-do-i-apply-to-the-njeda-small-business-emergency-assistance-loan-application-open-april-13-2020-at-9-00-a-m

PREPARE YOUR LOAN APPLICATION:
https://www.njeda.com/pdfs/NJEDA_COVID-19_Loan_App_Walkthrough


Immediate Updates regarding New Jersey’s Small Business Status:

Can you apply for Unemployment Insurance as an Independent Contractor?

SOURCE:  NJ State, Dept. of Labor & Workforce Development, Division of Unemployment Insurance

UPDATED:  4/10/2020 @ 8:19am

Many of our clients pose this question.  This is the most-recent update we’ve found on this concern:

 


Immediate Updates regarding New Jersey’s Small Business Status:

NJEDA small business loan application to go live April 13

SOURCE:  Rob Anthes, CommunityNews.org

UPDATED:  4/10/2020 @ 7:49am

A New Jersey Economic Development Authority grant program intended to help small businesses affected by COVID-19 received 26,000 grant applications, and was almost immediately oversubscribed.

The response shocked the NJEDA April 3, as businesses claimed the available $5 million almost as soon as it became available. The application remains open until Friday, April 10, though, and NJEDA encourages businesses who have not applied to still do so. Submitting an application will ensure that the applicant would be eligible if additional funds became available for this round of grant funding.

The program provides grants up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service, and other services—such as repair, maintenance, personal, and laundry services—to stabilize their operations and reduce the need for layoffs or furloughs.

The application for a $10 million small business loan program will go live Monday, April 13.

The NJEDA board approved the grants and other new programs March 26 with the intention of supporting businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.

The initiatives include a zero-interest loan program for midsize companies, support for private-sector lenders and Community Development Financial Institutions, funding for entrepreneurs, and a variety of resources providing technical support and marketplace information. NJEDA said the initiatives will support between 3,000 and 5,000 small and midsize enterprises and are meant to complement recently announced federal economic recovery initiatives.

The new NJEDA initiatives focus on businesses that have been hit hardest by the novel coronavirus outbreak: local small businesses, midsize businesses that have had to close or drastically reconfigure operations, and new businesses who were just getting on their feet before the crisis hit. The programs provide a suite of compatible offerings that address these businesses’ varied needs and include mechanisms to provide funding and assistance as quickly as possible.

Many of the resources are designed to be scalable with the addition of federal and philanthropic resources if they become available. Philanthropic partners interested in donating to support the NJEDA’s small business grant program can send email to donations@njeda.com.

The remaining initiatives include:

A $10 million Small Business Emergency Assistance Loan Program that will provide working capital loans of up to $100,000 to businesses with less than $5 million in revenues. Loans made through the program will have 10-year terms with zero percent for the first five years, then resetting to the EDA’s prevailing floor rate (capped at 3.00%) for the remaining five years.

A $10 million Community Development Finance Institution Emergency Loan Loss Reserve Fund to take a first loss position on CDFI loans that provide low interest working capital to micro businesses. This will allow CDFIs to withstand loan defaults due to the outbreak, which will allow them to provide more loans at lower interest rates to microbusinesses affected by the outbreak.

A $1.25 million CDFI Emergency Assistance Grant Program that will provide grants of up to $250,000 to CDFIs to scale operations or reduce interest rates for the duration of the outbreak.

A $5 million NJ Entrepreneur Support Program that will encourage continued capital flows to new companies, often in the innovation economy, and temporarily support a shaky market by providing 80 percent loan guarantees for working capital loans to entrepreneurs.

A $10 million Small Business Emergency Assistance Guarantee Program that will provide 50 percent guarantees on working capital loans and waive fees on loans made through institutions participating in the NJEDA’s existing Premier Lender or Premier CDFI programs.

A $150,000 Emergency Technical Assistance Program that will support technical assistance to New Jersey-based companies applying for assistance through the U.S. Small Business Administration. The organizations contracted will be paid based on SBA application submissions supported by the technical assistance they provide.

For more information about NJEDA resources, call (609) 858-6767.

For full details on eligibility about NJEDA programs, go online to cv.business.nj.gov.

READ MORE:

https://communitynews.org/2020/04/08/njeda-small-business-loan-application-to-go-live-april-13/ 


Immediate Updates regarding New Jersey’s Small Business Status:

COVID-19/Novel Coronavirus Information for New Jersey Businesses

SOURCE:  State of NJ

Updated:  4/9/2020 @ 7:59am

For quick answers to basic questions regarding various small business concerns about New Jersey’s coronavirus issues, use this link.

https://faq.business.nj.gov/en/collections/2198378-covid-19-novel-coronavirus-information-for-new-jersey-businesses

NOTE: The NJSBDC Team can further help you understand and provide assistance to the issues presented.  Please go to our Contact Page for specific ways to reach out for help.


Immediate Updates regarding New Jersey’s Small Business Status:

NJ Gov. Murphy announces Executive Order on construction closures and additional social distancing guidelines for businesses

Update:  4/8/2020 @ 1:28pm

SOURCE:  NJ COVID-19 Information Hub

NOTE: The Governor’s pending Executive Order will take effect Friday, April 10. Updates to this article will be made when more information is available.

Governor Murphy has announced a pending Executive Order that will impact business operations across the State of New Jersey. Once the Executive Order is signed, additional information will be posted here. This Executive Order will generally cover:

Closure of Non-Essential Construction
All non-essential construction across the state will cease, indefinitely, effective 8 p.m. Friday.

Exceptions to this shut-down include: projects at our hospitals and schools, in our transportation and utility sector, the building of affordable housing, other individual housing sites that can adhere to strict limits on the number of workers on-site at any given time, emergency repairs, and work needed to safely secure a construction site, and other limited instances.

New Guidelines for Essential Retail Stores

    • All essential retail must indefinitely limit the number of customers in their stores to 50 percent of their approved capacity.
    • Customers and employees must wear face coverings.
    • Stores must provide special shopping hours for high-risk individuals, erect physical barriers between customers and cashiers and baggers where practicable, and regularly sanitize areas used by their employees.

New Guidelines for Warehouses and Manufacturing Facilities
The order will also put greater protections in place for the workers at our warehouses, and in manufacturing. No one should be working where social distancing isn’t being practiced to its fullest extent.

Updated/Reviewed: 4/8/20

READ MORE:

https://covid19.nj.gov/faqs/nj-information/general-public/what-are-the-impacts-of-the-pending-executive-order-on-construction-closures-and-additional-social-distancing-guidelines-for-businesses

 


Immediate Updates regarding New Jersey’s Small Business Status:

NJEDA Small Business Emergency Assistance Loan Program

NJEDA Announces Application Launch Date for Loan Program for Small Businesses Impacted by COVID-19

SOURCE: NJEDA
Updated:  4/8/2020 @ 8:55am
The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Loan Program on Monday, April 13, 2020 at 9:00 am.  A link to the program application will be posted on the State’s COVID-19 Business Information Hub. To provide business owners the opportunity to prepare to apply for the loan, a .pdf version of the application will become available on Monday, April 6th. The loan program is part of a package of initiatives announced last week to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.
“Small businesses are the heartbeat of New Jersey’s economy. They make our communities unique and vibrant, provide good jobs, and keep our economy running. Ensuring they have the resources they need to withstand the COVID-19 outbreak is critical to keeping our economy afloat and setting the stage for a strong recovery,” said NJEDA Chief Executive Officer Tim Sullivan. “The emergency loan program will provide critical resources to businesses that have been hit hardest by the outbreak and need to stay open and maintain their workforces through this challenging time.”
The NJEDA’s COVID-19 initiatives focus on businesses that have been hit hardest by the novel coronavirus outbreak: local small businesses, mid-size businesses that have had to close or drastically reconfigure operations, and new businesses that were just getting on their feet before the crisis hit. The programs provide a suite of compatible offerings that address these businesses’ varied needs and include mechanisms to provide funding and assistance as quickly as possible.
The Small Business Emergency Assistance Loan Program is a $10 million program that will provide working capital loans of up to $100,000 to small and mid-size businesses with a physical commercial location in New Jersey. To qualify, businesses must have less than $5 million in annual revenues and be able to show a negative impact resulting from the COVID-19 outbreak. Loans made through the program will have ten-year terms with zero percent interest for the first five years, then resetting to the NJEDA’s prevailing floor rate for the remaining five years, with a three percent cap.
Applications for the NJEDA’s Small Business Emergency Assistance Grant Program are currently available and Applications for other NJEDA COVID-19 programs, including entrepreneurship support and technical assistance for businesses applying for U.S. Small Business Administration loans, will be available in the coming weeks.
Businesses and nonprofits can find eligibility requirements for all programs on the COVID-19 Business Information Hub or use the Eligibility Wizard to identify which emergency assistance programs they may want to consider for their business’s specific needs. Comprehensive information about New Jersey’s response to the novel coronavirus outbreak is available here: https://covid19.nj.gov/.
READ MORE:
PREPARE FOR THE LOAN APPLICATION:
https://www.njeda.com/pdfs/NJEDA_COVID-19_Loan_App_Walkthrough

Immediate Updates regarding New Jersey’s Small Business Status:

NJEDA Emergency Assistance Eligibility Wizard

Updated:  4/3/2020 @ 7:54am

Source:  NJEDA

*NOTE:   Financial programs will be available to small businesses beginning at 9am – 4/3/2020.  Please take the Eligibility Wizard to understand the options available to you.

The COVID-19 outbreak is causing extraordinary disruption for companies and non-profits across the Garden State. The NJEDA wants to make it easy for organizations to understand what support programs are available to you to help stabilize your operations and get back on a pathway to growth.

This is a beta version of the Eligibility Wizard that focuses on newly announced State Emergency Assistance programs and the SBA disaster loan program. We will be updating it regularly as new federal, state, local, and philanthropic programs become available.

READ MORE:

https://assistance.business.nj.gov/

 


Immediate Updates regarding New Jersey’s Small Business Status:

N.J. state tax filing deadline extended from April 15 to July 15

Updated:  4/1/2020 @ 1:27pm

Source:  NJ.com, Samatha Marcas of NJ Advance Media

New Jersey has finally pushed its tax day to July 15 because of the coronavirus crisis, giving you 90 more days to file and pay your state income taxes.

The announcement catches the state up to the IRS, which announced the three-month extension on March 20 as part of its response to the coronavirus economic crisis.

“The ongoing COVID-19 pandemic has caused hardships, financial strain, and disruptions for many New Jerseyans and New Jersey businesses,” Murphy said in a joint statement with the Senate president and Assembly speaker. “As part of our response, we have reached agreement that the state income tax filing deadline and the corporation business tax filing deadline will be extended from April 15th to July 15th.”

The federal tax extension had created a challenge for New Jersey, which operates on a July 1 to June 30 fiscal year and relies on April tax payments to pay its bills.

Murphy made the new filing and payment deadline official Wednesday morning as part of an announcement that the state would extend the current fiscal year until Sept. 30.

READ MORE:

https://www.nj.com/coronavirus/2020/04/nj-moves-income-tax-filing-deadline-to-july-15-because-of-coronavirus-crisis.html

 


Immediate Updates regarding America’s Small Business Status:

U.S. Small Business Administration COVID-19 Small Business Guidance & Support

Updated:  4/6/2020 @ 7:48am; 3/31/2020 @ 7:13pm

Source:  U.S. Small Business Administration

Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need.

The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed.

“This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level,” said Administrator Carranza. “Speed is the operative word; applications for the emergency capital can begin as early as this week, with lenders using their own systems and processes to make these loans. We remain committed to supporting our nation’s more than 30 million small businesses and their employees, so that they can continue to be the fuel for our nation’s economic engine.”

“This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day.  The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.”

The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.

The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program.

Read the full press release

MORE INFO ON SBA ECONOMIC DISASTER RELIEF PROGRAMS:

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Quick Overview on PPP from the U.S. Dept. of Treasury


Immediate Updates regarding New Jersey’s Small Business Status:

The Small Business Owner’s Guide to the CARES Act

Updated:  4/8/2020 @ 7:54am; 4/3/2020 @ 10:20am; 3/31/2020 @ 7:20pm

Source:  America’s Small Business Development Centers – National Network

The U.S. Senate Committee on Small Business & Entrepreneurship has published The Small Business Owner’s Guide to the CARES Act — a guide to the provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was recently passed by Congress and signed into law by the President.

The new law is intended to help business owners with the challenges they face as a result of the COVID-19 pandemic, and it creates numerous new resources for small businesses and other employers.

The Senate Committee’s guide provides information about major programs and initiatives in the new law, which will soon be available from the U.S. Small Business Administration (SBA), as well as several new tax provisions.

The Guide covers programs and initiatives such as:

• The Paycheck Protection Program, which provides capital to cover the cost of retaining employees;

• The Emergency Economic Injury Grant, which provides a quick infusion of a smaller amount of cash to cover immediate business needs, and Economic Injury Disaster Loans;

• The Small Business Debt Relief Program, which will help small businesses keep up with payments on a current or potential SBA loan;

• SBA resource partners, such as SBDCs, which provide free business consulting to help small businesses navigate this uncertain economic time;

• Small business contracting; and,

• Small business tax provisions.

To keep up to date on when these programs will become available, you can contact your local SBA District Office or your local SBDC.

For the complete “Small Business Owner’s Guide to the CARES Act,” click here.

FIND PARTICIPATING LENDERS:

https://www.sba.gov/paycheckprotection/find


Immediate Updates regarding New Jersey’s Small Business Status:

$2 trillion Coronavirus Economic Relief Bill Signed Into Law

Updated:  3/31/2020 @ 8:05am

Source:  BusinessInsider

President Trump signed the $2 trillion economic stimulus package to mitigate the worst effects of the coronavirus pandemic on the US economy on Friday. It will inject a flood of cash and make it available for businesses grappling with the fallout, as well as bolster the safety net for average Americans.

Relief set out in the bill includes direct payments of $1,200 to millions of Americans, strengthened unemployment benefits, and hundreds of billions of dollars in loans for struggling businesses.

Small businesses — those with 500 employees or fewer — would receive $367 billion in emergency funding. Firms would be encouraged to maintain payroll, and operating costs could be forgiven if participating companies met specific requirements.

READ MORE:

https://www.businessinsider.com/trump-signs-coronavirus-economic-relief-aid-bill-checks-for-americans-2020-3?utm_source=notification&utm_medium=referral

Coronavirus Economic Relief Bill Help for NJ Small Businesses provides:

Source: Sen. Cory Booker

Up to $10 million per business available to small businesses with less than 500 employees under the new Paycheck Protection Program.  Loans are forgivable for payroll costs, mortgage  interest payments, rent and utilities to keep struggling business afloat and workers employed.  Loan payments would be deferred for six months.

Up to $10,000 in SBA Emergency Grants for small businesses through the Economic Injury Disaster Loan (EIDL) program.

Worker Retention Tax Credit.  For employers, including non-profits, whose operations have been fully or partially suspended, the bill provides a refundable payroll tax credit for a percentage of wages and compensation paid to eligible employees during the COVID-19 crisis.

$1.25 million in funding from the Manufacturing Extension Program (MEP) to provide small and medium-sized manufacturers in New Jersey with resources to grow, reduce costs, improve efficiencies, develop their workforce, create new products, find new markets, etc.

Temporary Suspension of Alcohol Taxes in the Emergency Production of Hand Sanitizer. Under present law, distilled spirits are generally subject to an excise tax of between $2.70 and $13.50 per proof gallon.  This provision would exempt the tax on spirits removed during 2020 and used for the production of hand sanitizer in compliance with all FDA guidance.

READ MORE:

Sen. Cory Booker – Coronavirus Pandemic Resource Guide for New Jerseyans (Updated – 4/4/2020)

https://www.booker.senate.gov/coronavirus/


Immediate Updates regarding New Jersey’s Small Business Status:

New Jersey Economic Development Authority Grant and Loan Programs

Updated:  3/26/2020 @ 12:27pm

Source:  NJEDA

The New Jersey Economic Development Authority (NJEDA) Board today approved a suite of new programs designed to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.

The package of initiatives includes a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and Community Development Financial Institutions (CDFIs), funding for entrepreneurs, and a variety of resources providing technical support and marketplace information. Taken together, they will provide more than $75 million of State and private financial support, with the opportunity to grow to more than $100 million if additional philanthropic, State, and federal resources become available. The initiatives will support between 3,000 and 5,000 small and midsize enterprises and are meant to complement recently announced federal economic recovery initiatives.

The suite of new initiatives includes:

Small Business Emergency Assistance Grant Program – A $5 million program that will provide grants up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service, and other services – such as repair, maintenance, personal, and laundry services – to stabilize their operations and reduce the need for layoffs or furloughs.

Small Business Emergency Assistance Loan Program – A $10 million program that will provide working capital loans of up to $100,000 to businesses with less than $5 million in revenues. Loans made through the program will have ten-year terms with zero percent for the first five years, then resetting to the EDA’s prevailing floor rate (capped at 3.00%) for the remaining five years.

Community Development Finance Institution (CDFI) Emergency Loan Loss Reserve Fund – A $10 million capital reserve fund to take a first loss position on CDFI loans that provide low interest working capital to micro businesses. This will allow CDFIs to withstand loan defaults due to the outbreak, which will allow them to provide more loans at lower interest rates to microbusinesses affected by the outbreak.

CDFI Emergency Assistance Grant Program – A $1.25 million program that will provide grants of up to $250,000 to CDFIs to scale operations or reduce interest rates for the duration of the outbreak.

NJ Entrepreneur Support Program – A $5 million program that will encourage continued capital flows to new companies, often in the innovation economy, and temporarily support a shaky market by providing 80 percent loan guarantees for working capital loans to entrepreneurs.

Small Business Emergency Assistance Guarantee Program – A $10 million program that will provide 50 percent guarantees on working capital loans and waive fees on loans made through institutions participating in the NJEDA’s existing Premier Lender or Premier CDFI programs.

Emergency Technical Assistance Program – A $150,000 program that will support technical assistance to New Jersey-based companies applying for assistance through the U.S. Small Business Administration. The organizations contracted will be paid based on SBA application submissions supported by the technical assistance they provide.

Additional details on the NJEDA’s new programs, including complete eligibility requirements are available here: https://cv.business.nj.gov. Comprehensive information about New Jersey’s response to the novel coronavirus outbreak is available here: https://covid19.nj.gov/.

READ MORE:

https://www.njeda.com/Press-Room/News-Articles/Press-Releases/NJEDA-Announces-New-Initiatives-to-Support-Busines

 


Immediate Updates regarding New Jersey’s Small Business Status:

New Jersey Child Care Centers

Updated:  3/25/2020

Source:  NJ COVID-19 Information Hub (see original link below)

All child care centers in New Jersey that wish to continue operating must certify that they will solely serve the children of essential workers. The deadline to certify is Friday, March 27.

Beginning Wednesday, April 1, only child care centers that exclusively serve the children of essential workers will be allowed to remain open.

Child care centers that remain open must abide by new health and safety guidelines which will be released by the Department of Children and Families.

Again – if you are a child care center that wishes to remain open beyond April 1, you must certify that you can and will exclusively serve the children of essential workers by Friday, March 27.

If there are gaps in child care availability, the director of the Office of Emergency Management will direct coordination to identify schools that can serve as emergency child care centers for the children of essential workers, up to grade 8.


Immediate Updates regarding New Jersey’s Small Business Status:

Governor Murphy Announces Statewide Stay at Home Order, Closure of All Non-Essential Retail Businesses

Updated:  3/21/2020

Source:  NJ COVID-19 Information Hub (see original link below)

Governor Murphy’s Executive Order 107 further directs the closure of all non-essential retail businesses to the public, with the exceptions of:

• Grocery stores, farmer’s markets and farms that sell directly to customers, and other food stores, including retailers that offer a varied assortment of foods comparable to what exists at a grocery store;
• Pharmacies and medical marijuana dispensaries;
• Medical supply stores;
• Gas stations;
• Convenience stores;
• Ancillary stores within healthcare facilities;
• Hardware and home improvement stores;
• Banks and other financial institutions;
• Laundromats and dry-cleaning services;
• Stores that principally sell supplies for children under five years;
• Pet stores;
• Liquor stores;
• Car dealerships, but only for auto maintenance and repair, and auto mechanics;
• Printing and office supply shops;
• Mail and delivery stores.

Nothing in the Order shall limit 1) the provision of health care or medical services; 2) access to essential services for low-income residents, such as food banks; 3) the operations of the media; 4) law enforcement agencies, or 5) the operations of the federal government.

Compliance with this order is not voluntary.

READ MORE:

https://covid19.nj.gov/faqs/nj-information/general-public/governor-murphy-announces-statewide-stay-at-home-order-closure-of-all-non-essential-retail-businesses

New Jersey COVID-19 Information Hub:

https://covid19.nj.gov/


 

Please click below for additional resources and information:

NOTE: This information is also updated daily.

 

 

 

 

 


 

 

If you have additional questions, please contact your regional NJSBDC or visit our website at www.njsbdc.com .

 

Thank you, be well and be safe.

PRESS RELEASE: SBA Loans Available in New Jersey Following The Secretary of Agriculture Disaster Declaration for Excessive Rainfall and Cool Spring Temperatures

NEWS RELEASE

 

 

U. S. Small Business Administration

Disaster Field Operations Center East

 

Release Date: Dec. 14, 2018                                          

Contact:

Michael Lampton (404) 331-0333       

Michael.Lampton@sba.gov

 

Release Number:

19-212, NJ  15791                        

 

Follow us on Twitter, Facebook, Blogs & Instagram

 

SBA Loans Available in New Jersey Following The Secretary of Agriculture Disaster Declaration for Excessive Rainfall and Cool Spring Temperatures

                                                                                                                                                     

ATLANTA – The U.S. Small Business Administration announced today that Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in New Jersey as a result of the excessive rainfall and cool spring temperatures from May 1 through June 30, 2018.                            

 

The loans are available in the following counties: Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean and Salem in New Jersey.

 

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.

 

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible
farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers and ranchers.

 

The loan amount can be up to $2 million with interest rates of 2.5 percent for private nonprofit organizations of all sizes and 3.61 percent for small businesses, with terms up to 30 years.  The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.  These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.  The loans are not intended to replace lost sales or profits.

 

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at Disasterloan.sba.gov.

 

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.  Loan applications can be downloaded from sba.gov.  Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

 

Submit completed loan applications to SBA no later than July 1 2019.

 

###

 

 

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

 

SBA Offers Disaster Assistance to New Jersey Businesses and Residents Affected by August Severe Storms and Flooding

SBA Disaster Field Operations Center East

 

Contact:

Michael Lampton

(404) 331-0333

Michael.Lampton@sba.gov

 

Release Number: 19-091, NJ 15776/15777

Release Date: Oct. 25, 2018

WASHINGTON – New Jersey businesses and residents affected by severe storms and flooding on Aug. 11-13, 2018, can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.

Administrator McMahon made the loans available in response to a letter from Gov. Phil Murphy on Oct. 18, requesting a disaster declaration by the SBA. The declaration covers Ocean and Passaic counties, and the adjacent counties of Atlantic, Bergen, Burlington, Essex, Monmouth, Morris, and Sussex in New Jersey; Orange and Rockland in New York.

“The SBA is strongly committed to providing the people of New Jersey with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”

SBA’s Customer Service Representatives will be available at the Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications.

Read More & Apply

Cyber Intelligence Briefing: Understanding Blockchain and its Impact | NJSBDC @ Ramapo College of New Jersey

Cyber Intelligence Briefing: Understanding Blockchain and its Impact | NJSBDC @ Ramapo College of New Jersey

 

WHEN:

Thu, April 26, 2018

4:00 PM – 7:00 PM EDT

Add to Calendar

 

WHERE:

Ramapo College of New Jersey/ Small Business Development Center

505 Ramapo Valley Road

Friends Hall

Mahwah, NJ 07430

View Map

 

Description

Regardless of the price of Bitcoin, Blockchain technology is here to stay.Which businesses are left standing will likely come down to how well companies are able to adapt. The total market capitalization for the world’s crypto-currencies, led by Bitcoin on Blockchain, is more than $100 Billion. Soon to be disrupted industries will include Financial Services, Healthcare, Aviation, Global Logistics and Shipping, Transportation, Music, Manufacturing, Security, Media, Identity, Automotive, Land Use and Government, and more.

Intelligence Briefing Includes:

  • What exactly is Blockchain technology
  • How this new era in technology has the potential to change the business world
  • Why is this technology powering crypto-currencies like Bitcoin
  • Top industries impacted by Blockchain
  • What you should be considering before Blockchain disrupts your industry

Who Should Attend?

  • Business Owners, Operations & System Administrators
  • Entrepreneurs, Educators and Elected Officials
  • Anyone interested in learning about the future of Blockchain technology