Bill that Would Provide Loans and Grants to Small Businesses and Nonprofits

For months, the N.J. Chamber, along with other chambers of commerce and other business organizations, has been discussing with state leaders in Trenton the need to provide working capital to small businesses in order to help them survive the COVID-19 economic downturn and be in a good position to thrive when the economy begins to rebound.

While we will await the final details in this legislation, it is rewarding to see our discussions translated into action and we are encouraged that this significant step was taken in a bipartisan manner.

We know from talking with our members and from the demand placed on existing loan and grant programs that there is still a lot of pain out there and, even as this new legislation is weighed, more capital will be needed to sufficiently address this continuing crisis.

This is an imminent and ongoing issue for the business community and it needs to be addressed urgently.

The New Jersey Chamber of Commerce is a business advocacy organization that represents its members on a wide range of business and education issues. Based in Trenton, the organization also links the state’s local and regional chambers on issues of importance through its grassroots legislative network. For more information, visit njchamber.com