Tag Archives: Hurricane Sandy

Grants and Loans Available for Bayonne Businesses, Non-Profits Damaged by Sandy

             

CITY OF BAYONNE SEALMayor Mark A. Smith announced that grants and loans are available for qualified businesses and non-profit organizations that were damaged by Hurricane Sandy.  Mayor Smith said, “I urge businesses and non-profits that qualify for these programs to apply, so that they can continue to rebuild and recover from Hurricane Sandy.  The City of Bayonne would like everyone eligible in our community to benefit from these helpful grants and loans.”

            The first program is called Stronger NJ Business Grants.  This $260 million program is available to help small businesses and non-profits that were damaged by Hurricane Sandy.  Under this program, grants and forgivable loans of up to $50,000 per impacted location are available.  Businesses with multiple impacted locations may be eligible for an award of up to $250,000.  Eligible costs for reimbursement under this program may include: working capital (operating expenses), inventory, equipment, machinery, furnishings, and prospective construction. 

            To be eligible for a Stronger NJ Business Grant, a business must meet at least the following conditions: 1.) It must have been in existence on the date of Sandy in New Jersey, October 29, 2012. 2.) It must have at least one location in New Jersey and be registered to do business in New Jersey.  3.) The business must have less than $1 million in liquid assets.  4) It must be a small business with annual revenues of at least $25,000.  5) The business must have sustained a minimum of $5,000 in Sandy-related physical damage per location seeking assistance, which may include damage to real property or non-perishable, non-consumable inventory. 

            The second program is called Stronger NJ Business Loans.  This $100 million program is available to help small businesses and non-profits that were impacted by Sandy, as well as businesses looking to expand within storm-impacted communities.  Low-cost loans up to $5 million per eligible location, with 0% interest for the first 24 months and no principal payments for up to two years, are available for renovation, new construction, or equipment. Loans up to $500,000 are available to support working capital needs for eligible businesses.

            To be eligible, businesses within the nine most storm-impacted counties (Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean, and Union) must: 1) be a small business with annual revenues of at least $25,000; 2) evidence a minimum of $5,000 in physical damage to real property or non-perishable and non-consumable inventory, and/or 3) positively impact the economy of their community through either capital investment or the creation or retention of jobs. Continue reading Grants and Loans Available for Bayonne Businesses, Non-Profits Damaged by Sandy

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WEEKDAY PATH SERVICE FROM WTC TO NEWARK RESTORED

PATH TRAINCommuters riding the PATH trains from Newark to the World Trade Center (WTC) in NYC have cause to celebrate: The Port Authority of New York and New Jersey announced yesterday that weekday PATH Service between Newark and the WTC has been restored, although PATH service is still unavailable on weekends. Through February, from Fridays at 10 p.m. through Mondays at 5 a.m., crews will use this stretch of time to repair damages caused by Hurricane Sandy.

 With Hoboken PATH service to WTC still under construction, Hoboken commuters must continue to find alternate routes to downtown NYC. According to a press release put out by the Port Authority of NY and NJ, “Crews continue to work around-the-clock to return weekday Hoboken to World Trade Center service and weekend service between Newark and the World Trade Center. Those are the final segments of service yet to be restored.”

PATH Train photo: Source- Bing.com

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