SHOP LOCALLY! Important Resources and Assistance for Local Small Businesses NOTE: BOROUGH TO REDIRECT GRANT FUNDING TO HELP BUSINESSES!
THE BOROUGH TO REDIRECT $400,000 NJ COMMUNITY DEVELOPMENT BLOCK GRANT FOR DISASTER RESPONSE PROGRAMS AND ASSISTANCE FOR LOCAL BUSINESSES.
NOTE: The Borough had previously been awarded $400,000 from the NJ Small Cities CDBG Program for various pedestrian related improvements that we’re now seeking to redirect to improve the Community Center (an approved emergency shelter) for COVID-19 response efforts and to provide financial assistance to our local businesses to enable job retention and avoid closure. Our confidence level is moderate to high that we’ll be able to have the funding request approved by the state. Click here for more information and to learn more about eligible programs.
PALMYRA’S SMALL BUSINESSES NEED YOUR HELP!
SHOP LOCALLY AND SUPPORT OUR MERCHANTS – ESPECIALLY DURING THE COVID-19 CRISIS.
WALMART, HOME DEPOT, SHOPRITE, COSTCO AND WAWA WILL SURVIVE THIS PANDEMIC – BUY WHAT YOU NEED LOCALLY AND HELP MAKE SURE OUR BUSINESSES SURVIVE TOO!
Small Businesses: Select the links below for information on economic relief opportunities…
Burlington County small business assistance: see press release – Burlington County Freeholder Deputy Director Tom Pullion Announces Joint Small Business Loan Program with Burlington County Bridge Commission and Loan Application Package for up to $50,000 for Burlington County businesses
Senator Troy Singleton – COVID-19 Resource List
NJ EDA – COVID-19 Economic Relief Package PDF – PowerPoint Presentation
Fox Rothschild – Understanding the CARES Act: The $2.2 Trillion Stimulus Package
Fox Rothschild – CARES Act: A Comparison of SBA Loan Programs for Small Businesses
Note: The Coronavirus Aid, Relief and Economic Security Act or CARES Act provides financial support for small businesses and targeted sectors of the economy, along with direct cash payments to many Americans and enhanced resources for medical support.
Postlethwaite & Netterville – CARES Act: Paycheck Protection Program
US SBA – COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION
Important: the typical requirement in the US SBA disaster loan program of demonstrating that you pursued an insurance claim has been removed. Therefore, you do not need to file an insurance claim as a precursor to the loan application.
The Treasury Department has announced that loans will be available as follows:
- April 3 for small businesses and sole proprietorship
- April 10 for independent contractors and employees
If you are looking for more information on eligibility for loans, tax credits available and other relief, below are several resources:
- Presentation prepared by the General Counsel to the Council of Insurance Agents and Brokers (CIAB).
- Information on Expansion of SBA Disaster Loan Program 15 U.S.C. 636(b)(2)
- FAQ prepared by Parker McCay
