Mayor Ras J. Baraka announced today the availability of additional funding for the Newark Emergency Small Business Grant Fund. The City of Newark will invest an additional $2 million in Round 4 of the Fund to stabilize Newark’s small businesses that have suffered a direct loss of income due to COVID-19. The Small Business Grant Fund was created in March 2020 to support impacted Newark small businesses and help them to survive the current crisis, retain as many employees as possible, adapt, and recover.
The American Rescue Plan is the source of funds for this round. Awards under this round will be for up to $15,000 to Newark businesses with one to 25 employees including home-based businesses and start-ups. Applications for the program will be available starting today, Friday, September 10, at Noon, at NewarkCOVID19.com. Applications will close Friday, September 24, at 5 p.m.
“Newark’s small businesses have been devastated by COVID-19,” Mayor Baraka said. “With limited funds, we are working to help our businesses, tenants, artists and others suffering from COVID-19 to survive and recover. The Small Business Emergency Fund is one of the many ways that we are pulling together as a community to fight the virus and restore our economy. In collaboration with President Biden, our federal, state, and city legislators and our philanthropic community, we are working to expand the help that we can provide to Newark’s small businesses.”
The fund is administered by the City’s Department of Economic and Housing Development. To be eligible for the grant, businesses must have:
- A physical location in Newark
- 25 employees or less
- A valid business license or demonstrate exemption
- Experienced a direct loss of revenue due to COVID-19
- NOT been awarded a grant from the City in 2021
- NOT already received COVID-19 related financial assistance (grant, loans, etc.) from any other federal, state, or local program to pay for the same expenses
