Gov. Murphy Releases $100 Million In CARES Act Funding To Aid New Jersey Small Businesses Ravaged By Pandemic
HILLSBOROUGH, N.J. (CBSNewYork) -- There is more relief coming for small businesses in in the Garden State.
Gov. Phil Murphy on Tuesday announced more than $100 million to help owners and renters, CBS2's Nick Caloway reported.
After touring a craft brewery in Hillsborough Township, Murphy said he is releasing CARES Act funding from an existing federal grant to help residents and businesses impacted by the coronavirus pandemic.
"All of this will help us keep our economy moving ahead and our families working, even as we continue our work to not only defeat the virus, but to deliver even more critical aid to our families and our small businesses," Murphy said.
The bulk of the money, some $70 million, will go to small and micro-businesses and restaurants, which have been ravaged by the pandemic.
In addition:
- There's $10 million to help small businesses buy personal protective equipment (PPE)
- Another $15 million to support renters
- And $5 million for hunger relief efforts
The Cares Act, which was approved by Congress in March, gave states access to billions of dollars to then dole out to businesses and individuals. New Jersey was approved for $2.4 billion. But state leaders and lawmakers say just one round of stimulus is not enough.
Caloway asked Sen. Robert Menendez about negotiations in Congress for more relief.
"I think that when there is a relief package it will include aid to states and municipalities. The question is how robust can we make it. And we are going to try to make it as robust as possible," Menendez said.
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As for Tuesday's announcement of more funding for small businesses, it can't come soon enough for some.
Jeremy Lees is co-owner of Flounder Brewing, which opened in 2013.
"A lot of sleepless nights," Lees said.
He said the hardest part of 2020 has been the uncertainty, and added more access to assistance is invaluable.
"So we're going to be looking at the program because the biggest thing for an entrepreneur and a small business owner like this is stability," Lees said.
A little bit of stability goes a long way. Flounder Brewing is on tap to expand in 2021 and triple production.
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