INFORMATION REGARDING COVID-19 RESOURCES
The HCEDC, in our service to the community, is proud to provide resources to help guide residents and businesses through the assessment and planning process to sustain your business as we navigate through the uncertainty of COVID-19. We will update this information as additional resources become available. For more information or if you need additional guidance please contact Michelle Richardson, Executive Director at (201) 369-4370, ext. 3, or via email, email@example.com.
Hudson County Economic Development Corporation Partners with NJCC to Provide No-Cost Pandemic Relief Loans
HCEDC provides $100,000 grant to buy down interest rates for Garden State Relief Fund loans disbursed to Hudson County-based small businesses and nonprofit organizations
The Hudson County Economic Development Corporation (HCEDC) has committed a new $100,000 grant to New Jersey Community Capital (NJCC) to help buy down interest rates for the Garden State Relief Fund, a program providing working capital loans to small businesses and nonprofits located in Hudson County negatively impacted by the COVID-19 pandemic.
The HCEDC grant will eliminate interest on loans for small business and nonprofit applicants located in eligible municipalities of Hudson County applying to the Garden State Relief Fund. The grant will reduce the customary 3% interest rate to 0% for all eligible borrowers. NJCC launched the Garden State Relief Fund to meet the unique financial needs of vulnerable and historically underserved businesses and organizations across New Jersey adversely affected by the pandemic. The program provides low-interest loans up to $75,000 to small businesses and nonprofits with 3 to 75 full-time employees. Currently, 17.6% of Hudson County residents remain unemployed, among the highest in the state.
“We know that small business and nonprofit communities have experienced extraordinary challenges in the midst of COVID-19,” says County Executive Tom DeGise. “This important partnership with NJCC through The Garden State Relief Fund provides much-needed capital for those hit hardest by the COVID-19 pandemic. We are proud to launch this program as part of the HCEDC’s commitment to support underserved communities through access to capital and timely information on corona virus pandemic resources and business training.”
“This important grant will aid the recovery of communities throughout Hudson County in need of long-term stability,” says Wayne Meyer, President of NJCC. “HCEDC’s partnership and support will help accelerate sustainable and equitable recovery in the vibrant communities we serve.”
“Hudson County is home to one of the country’s most diverse, culturally rich and fastest growing regions in the State. The HCEDC continues to support Hudson’s local economies, ensuring the survival of our main street business owners working to recover from the pandemic,” says Michelle Richardson, Executive Director of HCEDC.
Since inception, NJCC has partnered with several county and municipalities to expand the Garden State Relief Program and identify immediate and long-term solutions that fit with local needs. As of July 30, 83 Garden State Relief Fund loans have closed in 63 cities and towns across 20 New Jersey counties, nine in Hudson County. 36% of the loans have been disbursed to woman- and minority-owned small businesses and nonprofit organizations. The Fund has preserved nearly 1,345 jobs across diverse industries including education, food and beverage, retail and health care.
Hudson County applicants previously approved for a Garden State Relief loan are also eligible for a loan modification to reduce their interest rate from 3% to 0%. To learn more about the Garden State Relief Fund, please visit www.newjerseycommunitycapital.org/initiatives/garden-state-relief-fund.
Hudson County Community College, Division of Continuing Education & Workforce Development: Workplace Health and Safety Measures Webinar
As more and more workplaces begin to re-open, employers are faced with new challenges due to the COVID-19 pandemic. This 90-minute webinar will provide participants with: an update on the status of COVID-19 in Hudson County; an overview of resources available to Hudson County businesses from local health departments; the importance of contact tracing; practical steps that employers can take to reduce the risk of exposure in the workplace; tips on how employers can communicate proper safety practices in the workplaces; establishing a process and culture where employees are engaged to communicate their health risks.
New Jersey Housing & Mortage Finance Agency (NJHMFA): Small Landlord Emergency Grant Program (SLEG)
Attention landlords, if you are a primary property owner with 3 to 10 rental units in New Jersey and your tenants were impacted by COVID-19, help is on the way. The New Jersey Housing and Mortgage Finance Agency is launching the Small Landlord Emergency Grant Program to help landlords with missed rent payments between April and July 2020. The HCEDC joined the City of Jersey City and NJHMFA for a webinar on Tuesday, August 18 focused on how you can potential applicants can seek funding from the grant.
New Jersey Housing & Mortgage Finance Agency (NJHMFA): Small Landlord Emergency Grant Program (SLEG) Presentation
New Jersey Redevelopment Authority (NJRA): Small Business lease-Emergency Assistance Grant Program
On Friday, August 7th, the HCEDC joined the New Jersey Redevelopment Authority for a webinar focused on NJRA’s Small Business Lease-Emergency Assistance Grant Program. Designed for small businesses who’ve struggled to pay their rent as a result of the COVID-19 pandemic. This program can provide rent/lease assistance up to $10,000 for businesses in NJRA’s 64 eligible communities.
Hudson County Small Business Relief Program (HCSBRP)
Applications will be accepted from August 3rd through August 14th for the Hudson County Small Business Relief Program (HCSBRP) to provide grants of up to $20,000 to support small businesses located in Hudson County with no more than 25 full-time employees. The HCSBRP is funded through the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act. Grant funds may be used for a range of COVID-19 Pandemic costs resulting from closure, partial closure, or interruption of a small business, including pay for eligible expenses incurred or anticipated to be incurred between March 15, 2020 and August 31, 2020.
If your business is located in Bayonne, East Newark, Guttenberg, Harrison, North Bergen, Secaucus, Union City, Weehawken and West New York, please click on the following link for additional information and to apply: https://bit.ly/HudsonCountySmallBusinessReliefProgram
If your business is located in Jersey City, applications are being accepted through September 2020 at: https://jcedc.org/CARES-ACT-GRANT/
If your business is located in Hoboken, applications are being accepted through August 15th at: https://www.hobokennj.gov/smallbusinessgrants
If your business is located in Kearny, please follow the link below for additional information: https://kcares.msicloud.us/live/
Recovering from COVID-19: Key Census Programs and Tools to Guide Business Recovery
The HCEDC was proud to join the Hudson County Community College Division of Continuing Education & Workforce Development, the Statewide Hispanic Chamber of Commerce of New Jersey and the United States Census Bureau for this Business Webinar. Learn how your business can benefit from the Census Bureau’s new programs, tools and how best to utilize the information provided.
Recovering From COVID-19: Key Census Bureau Programs and Tools to Guide Business Recovery Business Webinar
Recovering From COVID-19: Key Census Bureau Programs and Tools to Guide Business Recovery Business Presentation
Business Survival Series Webinars
The HCEDC is proud to present the Business Survival Series: A Four-Part series of Free Live Webinars to help Hudson County Businesses rebound from the COVID-19 crisis. These webinars will help business owners navigate business reopening while ensuring sustainability!
Business Survival Series Part 2: Marketing Strategy- June 17, 2020
Business Survival Series Part 3: Understanding Your Financial Statements- June 24, 2020
Business Survival Series Part 4: Projecting Financial Results-July 1, 2020
COVID-19 Funding Update Webinar- June 3, 2020
In response to the economic impact of the COVID-19 pandemic, Federal, State and Local governments have taken action to support the recovery of small businesses. The HCEDC hosted the COVID-19 Funding Update Webinar on June 3rd to provide updates on the implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act as well as the New Jersey Economic Development Authority’s Small Business Emergency Assistance Grant Program, in addition to partner updates.
COVID-19 Programs for Business Webinar- April 17, 2020
The HCEDC presented an informative webinar for business-owners focused on Hudson County’s COVID-19 Programs for Business on April 17, 2020.
Webinar Details include:
-What funding is available?
-What’s best for my business?
-Where & how to apply for Federal, State & Local Programs
Special Guest Speakers include:
Mayor Steven Fulop, Dr. Eric Friedman and Kevin O’Connor
-Christina Fuentes, Director of Small Business Services, NJEDA
-Melanie Willoughby, Executive Director, NJ Business Action Center
-Mayor Steven Fulop, City of Jersey City
-Adam Farrah, President, UCEDC
-Wayne Meyer, President, New Jersey Community Capital
County of Hudson
State of New Jersey
- Governor Phil Murphy Executive Orders
- Governor Phil Murphy Administrative Orders
- New Jersey COVID-19 Information Hub
- Business.NJ.gov– your one-stop for the information you need to do business in New Jersey
- Operational Reopening Resources
- For questions: 1-800-JERSEY-7 or visit the “Live Chat With an Expert” feature
New Jersey Department of Health
- New Jersey Department of Health COVID-19 Information Page
- New Jersey Department of Health – COVID Information for Businesses
New Jersey Economic Development Authority
- EDA Hotline Number: 844-965-1125
- COVID-19/Novel Coronavirus Information for New Jersey Businesses
New Jersey Department of Labor
Small Business Administration
- SBA Hotline Number: 800-659-2955
- Register for Counseling at the NJSBDC at New Jersey City University
- Coronavirus (COVID-19): Small Business Guidance & Loan Resources
- Coronavirus Relief Options
Senator Robert Menendez
Senator Cory Booker
- NJEDA Announces Agencies Selected to Offer Technical Assistance to COVID-19 Impacted Small Businesses Applying for SBA Funding
- African American Chamber of Commerce of New Jersey
- Statewide Hispanic Chamber of Commerce
- Veterans Chamber of Commerce
- Rising Tide Capital
Other Important Resources:
Chambers of Commerce