Back To Business At The Shore

 

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Back To Business At The Shore
The Christie Administration Remains Committed To Rebuilding The Jersey Shore By Helping Our Small Businesses Get Back To Business


Helping Small Businesses Get Back On Their Feet

Today Governor Christie is visiting three small businesses on the Jersey Shore that were recently awarded grants from the New Jersey Economic Development Authority’s (NJEDA) “Stronger NJ Grant” Program to assist in their rebuilding efforts.

Launched in May, the program focuses on the most impacted communities throughout the state by offering grants and forgivable loans to Sandy-impacted small businesses or non-profit organizations. In order to be eligible for a “Stronger NJ Grant” of up to $50,000, you must be a New Jersey-based small business or non-profit organization that sustained a minimum of $5,000 in physical damage from Super Storm Sandy. To date, 200 applications have been submitted, 22 have been approved, $1.2 million of grant funds have been approved and $247,067 has been disbursed to eight businesses.

In addition, the NJEDA also administers the “Stronger NJ Business Loan” Program. Businesses and non-profits that were impacted by Super Storm Sandy, as well as businesses looking to expand within storm-impacted communities, can apply for low-cost loans of up to $5 million per eligible location.

These two programs build on Governor Christie’s continued commitment to helping storm-impacted businesses and communities recover from Super Storm Sandy:

By The Numbers: The Recovery Since Sandy
______________________________________________________

$6,800,000,000

Total Federal assistance to New Jersey.

$5,000,000,000

National Flood Insurance Program payments made on claims to date.

$1,829,520,000

Community Development Block Grant (CDBG) Disaster Recovery funds provided by the U.S. Department of Housing and Urban Development (HUD).

$1,000,000,000

Federal money set aside for U.S. Army Corps of Engineers Shore Protection Projects.

$798,500,000

SBA Disaster Loans approved for homeowners, renters and businesses.

$624,700,000

FEMA Public Assistance grants to communities and some nonprofit organizations that serve the public.

$402,200,000

FEMA grants approved for New Jersey individuals and households.

$300,000,000

Federal money available to buy out Sandy-damaged and repetitively flood-damaged homes.

$37,000,000

Financial commitments to the Hurricane Sandy New Jersey Relief Fund.

$26,000,000

Employer-focused grants made available through the Hire New Jersey Recovery Plan.

$15,600,000

National Emergency Grants to fund the Christie Administration’s plan to hire unemployed New Jersey residents to assist with clean-up and recovery efforts.

$11,000,000

Hurricane Sandy New Jersey Relief Fund grants awarded.

126,751

Housing inspections completed.

29,000

Donors to the Hurricane Sandy New Jersey Relief Fund.

EO 125

Created an accountable, transparent process to ensure the integrity of the use of federal reconstruction resources.

EO 107

Protected homeowners by prohibiting insurance companies from imposing costly deductibles on New Jersey homeowners.

96%

Total insured claims closed including: homeowners, commercial property, personal auto, commercial auto, and business interruption, and others.

90%

Federal cost-share for projects funded by FEMA’s Public Assistance grant program.

79%

Total flood claims closed.

Press Contact:
Michael Drewniak
Colin Reed
609-777-2600

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