FREEHOLD, NJ – Small business owners in Monmouth County will be able to apply for grants starting Monday, according to Freeholder Director Thomas A. Arnone.
The Monmouth County CARES Economic Assistance Grant program is slated to launch on Aug. 3 at 8 a.m., according to the Freeholder Director. The initiative will benefit small businesses and nonprofit organizations impacted by the coronavirus pandemic.
In order to qualify for a Monmouth County CARES Economic Assistance Grant, the following criteria must be met by applicants:
Physically located in Monmouth County since Jan. 1, 2019 or earlier
Negatively impacted by the coronavirus pandemic
$5 million or less in annual gross revenue
50 or fewer full-time equivalent employees, including the owner, as of March 1, 2020
Nonprofit Organizations registered with the IRS are also invited to apply. However, service providers in the banking, educational, governmental and medical industries are not eligible for grant funding at this time.
“I encourage businesses to spend the next few days reviewing their COVID-19 costs and related paperwork so that they are prepared when the application process opens on Monday,” Arnone said in a statement on Wednesday. Applications will be available at monmouthcountycares.com.
To apply for a grant, the following items will need to be submitted through the application portal:
TIN/EIN – Tax Identification or Employee Identification Number
Legal Business Name
DBA – Doing Business As (if applicable)
Business Contact Information (contact name, organizational role, email address, phone number, and business address)
NAICS Code of the Business (North American Industry Classification System)
Tax Returns: Fiscal years 2018 and 2019 (if filed)
Business Banking Information
Itemized list of eligible costs for reimbursement
Grants cannot be used for reimbursements already made under separate state and federal assistance programs.
“Upon receipt of the application and required documents, each application will be reviewed for completeness and eligibility on a first come, first serve basis,” said Arnone. “Applicants will be notified if their application is incomplete and will be given time from the incomplete notification to resubmit missing or incomplete information in order to hold their place in the submission process.”
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