HAMILTON, NJ – Hamilton Township Department of Community and Economic Development announces the Township’s Small Business Assistance Program. The Township has appropriated $90,000 of its federal Community Development Block Grant CARES funds (CDBG-CV) to support this initiative. Nearly 20 or more Hamilton Township businesses will be able to secure assistance to help them during this stressful time.
The Hamilton Small Business Assistance Program objective is to provide working capital funds, such as employee salaries, general operating expenses, inventory, and advertising/marketing expenses, to the community’s businesses economically impacted by the COVID-19 pandemic. The program makes funds available for 60 days of verifiable working capital up to a grant ceiling of $5,000. CDBG Small Business Assistance funds may be used to assist private for-profit small businesses considered non-essential by the Governor’s Executive Order without the ability for employees to work remotely. Businesses must have at least one full-time equivalent (FTE) employee other than the owner(s) but must not exceed 25 employees (total number of people employed) including the business owner(s).
“As we all know, COVID-19 is both a health and economic crisis and it is our small business owners who have had to tirelessly work to adapt to keep their businesses open while protecting public health,” stated Mayor Jeff Martin. “Each business in Hamilton provides an important piece to our overall economy. We are committed to ensuring our small business community weathers this storm and is able to keep their doors open. The funding announced today will support small businesses as they continue to adapt to the ‘new normal’ we are living with now.”
Examples of businesses that would be eligible for this grant opportunity include:
- Non-chain retail stores
- Floral stores
- Barbershops, nail and/or salons
- Recreation facilities (dance, yoga, martial arts studio)
To be eligible, businesses must have been operating continuously with the same ownership since January 1, 2017 and provide documentation of the financial health of the business in both present and recent history. Benefiting businesses should have solid commitments to remain open or reopen, and retain or re-employ permanent jobs. Businesses seeking to review program requirements and apply may do so by visiting HamiltonNJ.com/SmallBusinessAssistanceProgram