The New Jersey Economic Development Authority is scheduled to meet Thursday to act on programs to help businesses weather the economic fallout from coronavirus.
In an appearance with Rhonda Schaffler on NJTV last night, NJBIA President and CEO Michele Siekerka said she expects the authority to adopt a combination of grants and loans to help businesses who have either been closed or severely restricted in their operations due to the social distancing mandates.
“We are in regular discussions with the Governor’s office and the EDA to see how those programs are coming along,” Siekerka said. “We understand that they are working on a grant program as well as no- and low-interest loan programs to be available for New Jersey businesses.
“Clearly something like a grant program or no-interest loan would be for the smallest companies,” she said. “Those are the ones we really need to get economic relief to who are really the most vulnerable right now.”