321 Hoboken small businesses will receive $1.8 million in grant funding according to an announcement by Mayor Ravi Bhalla, Hudson County Executive Tom DeGise, and Hudson County Commissioner Anthony Romano.
Awards for businesses were allocated through Hoboken’s share of federal CARES Act funding and can be used for COVID-19-related expenses, including payroll, mortgage payments, utilities, and more.
“Our small businesses make up the backbone of our city, and we are doing everything we can to assist them during these difficult times,” Bhalla said. “I’m hopeful that our federal elected officials will provide even more relief in the months ahead, as we continue to support our local mom and pop shops. Thank you to Senator Robert Menendez, Senator Cory Booker, and Congressman Albio Sires for fighting for CARES Act funding for our community.”
To qualify for funding, Hoboken small businesses must have been in operation at the beginning of the COVID-19 pandemic, be a for-profit entity, have 25 employees or less, and be within the mile-square city.
Amounts of grant funding were determined by criteria established by Hudson County.
“Hoboken’s economic recovery from the pandemic depends on small business coming back strong,” said County Executive DeGise. “That’s why we are so grateful to Senator Menendez and our federal legislative delegation for securing these CARES Act funds and working so hard with Mayor Bhalla and the business community to put them to the best use possible.”
“I would like to thank Senators Mendez and Booker for the CARES funds given to the County to be distributed to all cities, and I would like to thank Mayor Bhalla and his administration for working cooperatively with the County to make sure all qualified small business owners receive their share of funding,” said Commissioner Romano.
According to the city, additional funding may be available in the future for Hoboken small businesses if another COVID-19 relief package is passed at the federal level.
Hoboken has also provided relief for some small businesses through the Hoboken Relief Fund, created to provide financial assistance to small businesses and individuals affected by the COVID-19 pandemic.
The relief fund, co-chaired by Council President Jen Giattino and Councilman Phil Cohen, has raised more than $410,000 for impacted Hoboken businesses and individuals.
Hoboken businesses with questions about the CARES Act grant funding should email email@example.com.