NJBIA Statement on Announcement of CARES Act Funding for NJ Small Businesses 

New Jersey Business & Industry Association President and CEO Michele N. Siekerka, Esq. issued the following statement regarding today’s announcement by Gov. Phil Murphy that $50 million in federal CARES Act funding will go directly to small businesses impacted by COVID-19.

“NJBIA thanks Governor Murphy and his administration for this vital allocation to help New Jersey small businesses and nonprofits, many of which have been decimated due to the response to the coronavirus.

“As expressed to our policymakers in an April 16 letter, the need to flow more money out of EDA’s small business grant programs is of the utmost importance to our small businesses. Simply put, many are struggling for their survival and their need is nothing short of urgent.

“Small businesses represent over 98% of the state’s business demographic and represent the backbone of our economy, employing over 50% of our workforce. For New Jersey’s economic health, this infusion of funding is paramount.”