NJEDA partners to assist small businesses with SBA funding

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The New Jersey Economic Development Authority announced March 30, it is partnering with the African American Chamber of Commerce of New Jersey, the New Jersey State Veterans Chamber of Commerce, Rising Tide Capital and the Statewide Hispanic Chamber of Commerce of New Jersey to offer support services to businesses seeking federal financial assistance through Small Business Administration (SBA) programs.

This assistance includes, but is not limited to, preparing financial information, packaging application documentation, and completing and submitting the online or paper-based application. Compensation for these organizations will be based on completed and submitted SBA applications.

“New Jersey is working with public and private sector partners to ensure that small businesses, including those in historically underserved communities, have access to the resources they need to continue paying their bills and their workers during these unprecedented times,” said NJEDA Chief Executive Officer Tim Sullivan. “We understand that there are numerous programs out there and it can be difficult to navigate through them. Through this technical assistance program, and other initiatives we are standing up, our goal is to connect business owners and entrepreneurs with the funding sources that best suit their individual needs.”

This technical assistance is the latest in a series of steps New Jersey is taking to help small businesses impacted by the COVID-19 outbreak.

Additional information about SBA program is available online at http://disasterloan.sba.gov/.

Last week the NJEDA announced a suite of new programs designed to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19. Earlier this month the State launched an online portal dedicated to answering business owners’ questions related to the impact of the COVID-19 outbreak on businesses.