Union City has grants to assist small businesses facing financial difficulties due to COVID-19.
“I have created the Union City Small Business Grant Program through a federal grant given to the city,” Mayor Brian Stack said. “The grant was created in order to assistant small businesses who suffered an interruption of their businesses due to the pandemic.”
The program will offer up to $5,000 to cover eligible expenses incurred, financed through Community Development Block Grant funds. Funding is limited and will be approved on a first-come, first-served basis.
To apply, visit ucnj.com or call 201-348-5731.
Eligibility requirements
The business must be a for-profit or non-for profit entity in Union City to be eligible. A business cannot have more than 25 full-time equivalent employees per week regardless of the number of business locations.
No business will receive a grant in excess of $5,000. However, at the option of the grantor, the grantee may receive a grant in a greater or lesser amount depending on availability of funds and need.
The grant will be used to reimburse eligible businesses for costs and expenses associated with the COVID-19 pandemic resulting from business closure, partial closure, or business interruption. The grant may be used to pay for expenses and or reimbursements relating to employee salaries; mortgage payments; business loan payments; equipment leases or finance payments; and utility payments. Use of grant funds for employee salaries may include salary paid to the owner or principal of the owner of the business applicant.
The grant may be used to pay for these aforementioned eligible expenses incurred or anticipated to be incurred from March 15, 2020, to December 31, 2021. No grant application can be submitted for nor can grant funds be used to pay for any of the eligible expenses which are or have been the subject of any insurance claims or claims made with any other source, whether governmental or private, and for which a reimbursement payment is actually received.
The owner of a business for which an applicant submits an application must certify under oath to the accuracy of any statement or representation contained in a grant application or a document submitted in support of a grant application. Any business that files a fraudulent grant application or misuses grant funds will be obligated to return any funds improperly received plus interest at the rate of 1 percent per annum.
Other opportunities
The second program is through the Small Business Administration. It has a grant and loan program to assist small businesses struggling to recover from the pandemic. For more information on these grants and loans, contact the SBA at targetedadvance@sba.gov or 1-800-659-2955.
“As programs are announced, I will inform you,” Stack said. “More people are getting vaccinated than before, and I am confident that there will be an end to the pandemic. We are all in this together, and we will get through it. I am here for you, so please call me any time, if I can be of assistance.”
For updates on this and other stories, check www.hudsonreporter.com and follow us on Twitter @hudson_reporter. Daniel Israel can be reached at disrael@hudsonreporter.com.
