Ørsted Pro-NJ Grantor Trust launches with expressions of interest accepted beginning February 1
Today, the Trustees of Ørsted’s Pro-NJ Grantor Trust Fund announced details of the fund and the process to apply. The $15 million fund was established by Ørsted following the selection of its Ocean Wind offshore wind farm project by the New Jersey Board of Public Utilities in June 2019, with the goal of ensuring that […]
Additional PPP Guidance and Resources: How to Calculate Maximum Loan Amounts for First Draw
SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources: How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type (Released 1/17/2021) SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources: Procedural Notice – PPP Borrower […]
SENATE COMMITTEE ACTS ON SWEENEY-SINGLETON BILL TO UPGRADE WATER & VENTILATION SYSTEMS
A Senate committee today approved a bill sponsored by Senate President Steve Sweeney and Senator Troy Singleton that would help schools and small businesses in New Jersey upgrade their water and ventilation systems to better protect the health of students, educators, customers and workers. The bill, S3033, would establish the School & Small Business Energy […]
SBA Re-Opening Paycheck Protection Program to Small Lenders Today and All Lenders on Tuesday, January 19
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 am ET. The portal will fully open on Tuesday, January 19, 2021 […]
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January […]
Governor Murphy Signs Historic Economic Recovery Legislation
Governor Phil Murphy today signed into law the landmark New Jersey Economic Recovery Act of 2020, which will provide economic support for small businesses, while propelling New Jersey’s economic recovery and growth for much of the next decade. “These programs are the product of nearly three years of hard work, during which we received input […]
Two New Tax Laws That Will Impact NJ Amid COVID-19 Crisis In 2021
Governor Murphy has signed several bills into law that take effect in 2021 and may provide a boost to New Jersey as the economy continues to suffer amid the COVID crisis. As reproted by The Patch, those two tax laws are as follows: Health insurance tax (S2676/A4389) The governor signed legislation to create the New […]
NJEDA Extends PPE Access Program Deadline to December 17, 2020
In response to significant demand for support through the program, the New Jersey Economic Development Authority (NJEDA) today announced that the deadline for companies to receive nearly 70 percent discounts on purchases of personal protective equipment (PPE) through the NJ Small and Micro Business PPE Access Program has been extended one week to Thursday, December 17th, 2020. To […]
Governor Murphy and Superintendent Callahan Announce Administrative Order Clarifying Entertainment Centers Can Host Outdoor Performances at Same Capacity Permitted in Indoor Spaces
Governor Phil Murphy and Superintendent of the State Police Colonel Patrick Callahan today announced an Administrative Order clarifying that indoor entertainment centers where a performance is viewed or given, including a movie theater, performing arts center, and other concert venues, may host a performance in an adjacent outdoor area with a maximum capacity equivalent to […]
Governor Murphy Signs Executive Order Pausing Indoor Practices and Competitions for Youth and Adult Sports and Lowering Limits on Outdoor Gatherings
Governor Phil Murphy last night signed Executive Order No. 204, which pauses indoor practices and competitions for youth and adult sports from Saturday, December 5 at 6:00 a.m. through Saturday, January 2, 2021. The EO also lowers the outdoor gatherings limit from 150 people to 25 people, effective Monday, December 7 at 6:00 a.m. “As […]