First round of emergency business grant has awarded a total of $947,468 to 105 small businesses;
Second round of emergency funding will provide working capital grant
of up to $10,000 to qualifying residential small businesses based in Newark
Mayor Ras J. Baraka today announced a second round of emergency funding for small businesses and microenterprises that have been impacted by the coronavirus pandemic. This round will provide working capital grants in amounts up to $10,000 to qualifying home-based small businesses in Newark and can be utilized for accounts payable, payroll, inventory, equipment, business compliance, licensing renewal, utilities, business capacity, legal, financial services, rent, insurance, business taxes, supplies or most business-related items, subject to funding availability. The deadline to apply is July 13, 2020.
“Newark’s small businesses have been extremely impacted by COVID-19,” Mayor Baraka said. “Home-based small businesses have been particularly hard hit, yet have had fewer sources of emergency aid. So, in this second round of small business grants, we are seeking to ensure the survival of businesses that residents have established in their own homes.”
With $2 million earmarked for the small business grants program, the first round awarded a total of $947,468 to 105 Newark small businesses. The businesses in the first round employ a total of between 300 and 420 workers. They represent a cross-section of Newark’s small business community from all five wards including food and eating establishments, nightlife, technical and business services, printing, trucking, contracting, haircutting and more. A list of the first round of awardees is attached.
Mayor Baraka’s Newark Economic and Housing Development Department in partnership with United Way of Greater Newark (UWGN) as sponsor, coordinating partner and grant administrator for this initiative; Invest Newark as coordinating partner; and Prudential as a sponsor are working together in this effort to provide relief while assessing the economic impacts related to COVID-19 on Newark’s small business community.
“We are proud to continue partnering with the City of Newark to coordinate another round of funding that will support our local small businesses and business owners,” said Catherine Wilson, President and CEO of UWGN. “While the coronavirus pandemic continues to significantly impact local small business owners and hardworking Newark residents, this funding will help offset some of the financial burdens and help business owners as they get back on their feet.”
Local small business owners may be eligible to apply by meeting the following conditions, including having a home-based business with a physical establishment located in Newark; having 10 employees or less; evidence of direct loss or losses due to COVID-19; providing state or federal corporate registration or licenses, among other qualifications. For more information about eligibility, visit: https://uwnewark.org/covid19/organizations/
Applications for funding will open today, Tuesday, June 30, at 3 p.m. through a link on the United Way of Greater Newark website that can be accessed here: https://www.grantinterface.com/Home/Logon?urlkey=uwn. First-time users will have to complete the registration process and create an account to access the application. If selected, grant recipients will receive funding within 15 days of approval. Decisions are based on eligibility, criteria met and availability of funding. If you have technical issues with the application, contact firstname.lastname@example.org.
About United Way of Greater Newark
United Way of Greater Newark’s (UWGN) mission is to disrupt the cycle of poverty by convening, collaborating and investing in strategies to improve outcomes for children and families. UWGN has a long history of convening disaster funds in the community, including having established the 9/11 fund, the Hurricane Sandy Relief Fund and, most recently, the Newark Water Fund. In order to continue providing support to the community and its non-profit partners during the COVID-19 crisis, UWGN has established the Community COVID-19 Fund. This is a regional fund serving its 13-municipality footprint including Newark, Irvington, East Orange, West Orange, South Orange, Orange, Belleville, Nutley, Maplewood, Kearny, Harrison, East Newark and North Arlington.
- NEWARK -