New Jersey awarding $15 million in CARES funds to small businesses

Gov. Phil Murphy says $15 million in federal funding has been made available to small businesses struggling from the coronavirus outbreak.

News 12 Staff

Jul 28, 2020, 9:29 PM

Updated 1,358 days ago

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Gov. Phil Murphy says $15 million in federal funding has been made available to small businesses struggling from the coronavirus outbreak.
Murphy said Tuesday the funds stem from the federal Coronavirus Aid, Relief and Economic Security Act and is in addition to more than $100 million in aid administered by the state’s Economic Development Authority.
Over 10,000 small businesses have been approved for $44 million in grants so far. The state Economic Development Authority says that it will make sure that a third of that money goes toward minority-owned and female-owned businesses.
“We know that these firms that even in good times struggle to access capital as much as the rest of the economy, and so it’s been a really intentional focus of Gov. Murphy and our entire team to provide a suite of resources particularly focused on underserved communities,” says EDA CEO Tim Sullivan.
The governor made the announcement at the A-List Hair Studio in North Brunswick. The salon received a $10,000 grant and reopened last week. Murphy added that the program is not currently accepting any more applicants.
The Associated Press wire services contributed to this report.


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