New Jersey Legislators call for Small Business Relief

Date: December 02, 2020

Last week, Senators O’Scanlon and Testa  introduced a bill, S-3210, which appropriates $300 million to the Economic Development Authority to set up loans and grants for small business organizations impacted by COVID-19. The money would be eligible to be spent on costs associated with the interruption of operations by state-required closures during the pandemic.

Although leadership agrees that small businesses desperately need financial support, legislative movement is doubtful. It is believed that Senate President Sweeney and Assembly Speaker Coughlin are waiting to see if Congress provides a new relief program before they take any action. 

Non-profits would also be eligible for the funds, and the money would be available almost immediately if the bill were to pass.

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