Hoboken will begin distributing $1.82 million in grant funding to local small businesses that have been impacted by the COVID-19 pandemic.
As part of the city’s Small Business Grant Program, 179 small businesses will be given grant funding with an average of $9,800. 115 will also receive a $1,500 vaccine bonus as 75 percent of their employees are fully vaccinated. The $1.82 million in funding comes from the American Rescue Plan.
“Businesses will use the funding for COVID-19 related expenses incurred between Sept. 1, 2020, and July 28, 2021, including employee salaries, mortgage payments, business loan payments, equipment leases or finance payments, and utilities, including electric, water, gas, and phone,” according to a press release.
Hoboken will make award notifications by the end of this week and begin distributing funds next week via wire transfers and checks. A list of businesses in the program will be published on the city’s website in the coming weeks.
“We are continuing to support our small business community during the ongoing pandemic,” said Mayor Ravi Bhalla in a press release. “This grant funding will provide additional relief that will help ensure that our mom-and-pop shops remain open, adding vibrancy to our mile-square.”