Mayor Ravi S. Bhalla, Hudson County Executive Tom DeGise, and Hudson County Freeholder Anthony Romano today announced that $1.82 million in grant funding has been awarded to 321 Hoboken small businesses. The funding for businesses was allocated through Hoboken’s share of the federal CARES Act, and can be utilized for COVID-19 related expenses including payroll, mortgage payments, utilities, and more.
“Our small businesses make up the backbone of our City, and we are doing everything we can to assist them during these difficult times,” said Mayor Bhalla. “I’m hopeful that our federal elected officials will provide even more relief in the months ahead, as we continue to support our local mom and pop shops. Thank you to Senator Robert Menendez, Senator Cory Booker, and Congressman Albio Sires for fighting for CARES Act funding for our community.”
“Hoboken’s economic recovery from the pandemic depends on small business coming back strong,” said County Executive DeGise. “That’s why we are so grateful to Senator Menendez and our federal legislative delegation for securing these CARES Act funds and working so hard with Mayor Bhalla and the business community to put them to the best use possible.”
“I would like to thank Senators Menendez and Booker for the CARES funds given to the County to be distributed to all cities, and I would like to thank Mayor Bhalla and his administration for working cooperatively with the County to make sure all qualified small business owners receive their share of funding,” said Freeholder Romano.
In order to qualify for the awarded grant funding, Hoboken small businesses had to meet guidelines in the CARES Act, which included:
-In operation at the beginning of the COVID-19 pandemic
-Operate as a for-profit entity
-Have 25 employees or less
-Located in the City of Hoboken
Amounts of the distributed grant funding was determined by criteria established by Hudson County. Additional funding may be available in the future for Hoboken small businesses if another COVID-19 relief package is passed at the federal level.
Hoboken has also provided relief for small businesses through the Hoboken Relief Fund, created to provide financial assistance to small businesses and individuals affected by the COVID-19 pandemic. The relief fund, co-chaired by Council President Jen Giattino and Councilman Phil Cohen, has raised over $410,000 for impacted Hoboken businesses and individuals.
Any Hoboken business with questions about the distribution of the CARES Act award, criteria for grant funding, or that needs to provide additional information to claim the award should email smallbizgrants@hobokennj.gov.
