As you may have heard, the Senate passed a $2 trillion relief bill containing, among many other things, provisions for hundreds of billions for the Small Business Administration (“SBA”), which is intended to provide cash assistance through the SBA or through another program to qualifying small businesses. We will provide updates on this legislation as they come, but this is not the only source of relief for small businesses.
Many states, including New Jersey, are also providing financial assistance to businesses to help them through these difficult times. The New Jersey Economic Development Authority has a number of programs available to small to mid-sized businesses that may provide significant help to your business. Information relating to those programs can be found here: https://www.njeda.com/small_midsize_business. As any help in these times is likely to prove necessary, we strongly recommend reviewing these programs to see if any apply to you.
It is more important than ever to be aware of your options, and we at Attorneys Hartman, Chartered intend to ensure that you are as prepared as you possibly can be to get through these challenging times.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.