Municipalities across Hudson County have been working to help local, small businesses cope with the stay-at-home order during the COVID-19 pandemic. Many businesses have furloughed workers, issued lay-offs and even gone out of businesses due to the ongoing outbreak.
In Bayonne, the city has been trying to help business owners since the start of the pandemic.
The Bayonne Economic Opportunity Foundation has been promoting businesses who are still open on social media. The Parking Authority has allowed businesses to apply for “No Parking” zones in front of their establishment to allow customers to pick-up takeout easier.
Recently, the city partnered with JaTanga, an online platform that allows businesses to sell products over live online broadcasts.
Now, Mayor James Davis and the City Council have announced the launch of a new program to help business owner to provide relief for local small businesses. Mayor Davis unveiled the program in a statement addressed to all business owners in the city.
The program is entitled “The Bayonne Small Business Working Capital Grant.” According to Mayor Davis, the program will be funded through the Federal Stimulus package.
“As part of our effort to help our local businesses during the current economic crisis, we have developed a program to provide financial assistance to encourage job retention,” Davis said. “This program will provide short-term working capital assistance to small businesses to enable retention of jobs held by low-and moderate-income persons.”
How to qualify
Qualifying businesses must be impacted by the Federal and State social distancing orders and also must be considered a small business. By definition, a small business is considered any businesses with 50 or fewer employees.
Additionally, qualifying businesses must have employees currently on payroll who meet the qualification of low-and moderate-income persons, Mayor Davis said. Businesses must not be receiving any other Federal or State grant providing assistance for the retention of low-and moderate-income persons.
For each low-and moderate-income person who retains their position as an active employee, a working capital grant of $4,000 shall be awarded to qualifying businesses, according to Mayor Davis. The maximum award for any business is $40,000.00.
To apply, businesses or residents must complete the Bayonne Small Business Working Capital Grant application in its entirety. The application is available online on the city’s website at www.bayonnenj.org.
Mayor Davis said all awards will be made on a first come-first served basis, encouraging all eligible business to apply as soon as possible.
“Our goal is to put money in the hands of your businesses quickly,” Davis said in a statement.
For updates on this and other stories, check www.hudsonreporter.com and follow us on Twitter @hudson_reporter. Daniel Israel can be reached at email@example.com.