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COVID-19 Economic Recovery Plan Assistance

April 14, 2020

We hope all is well with you, your family and colleagues during this difficult and uncertain period.

T&M has collaborated with many of you, as our clients and partners, to respond, mitigate and recover through several unfortunate incidents. Events like 9/11, Hurricanes Sandy and Irene, Snowstorm Jonas and recently COVID-19. In each case, the circumstances required insightful leadership and each person to do their part to exemplify the tenacity and resiliency in each community while fostering unprecedented cooperation between our local, county, state and federal governments. Although we are still in the midst of this pandemic, the State of New Jersey and the U.S. Federal government have begun to announce each of their initial economic recovery efforts.

The state of New Jersey has recently announced various grant and loan programs intended to sustain small businesses until the threat subsides. To prepare for such assistance it is imperative that you maintain meticulous records regarding losses, delays, cancellations and closures of your business. In addition, the funding is available to support development and redevelopment efforts, drive innovation, and strengthen the workforce. Some of these programs include;

  • Small Business Emergency Assistance Loan Program
  • Community Development Finance Institution (CDFI) Emergency Loan Loss Reserve Fund
  • CDFI Emergency Assistance Grant Program
  • NJ Entrepreneur Support Program
  • Small Business Emergency Assistance Guarantee Program
  • Emergency Technical Assistance Program

State, territorial, tribal, and local government entities and certain private non-profit organizations are eligible to apply for Public Assistance (PA). FEMA assistance will be provided at a 75 percent federal cost share. This assistance will require execution of a FEMA-State/Tribal/Territory Agreement, as appropriate, and execution of an applicable emergency plan. Local governments and other eligible PA applicants should apply through their respective state, tribal or territorial jurisdictions.
Eligible Assistance includes;

  • Management, Control and Reduction of immediate threats to Public Health and Safety
  • Emergency Medical Care
  • Medical Sheltering
  • Purchase and Distribution of Food, Water, Ice, Medicine, and Other Consumable Items
  • Security and Law Enforcement
  • Communications of General Health and Safety
  • Reimbursement of State, Tribe, Territory and/or Local Government Force Account Overtime

We will continue to provide updates and information as it is received on the various recovery programs.

Please  contact any of our Client Managers, Business Development Reps, or Gerald Paige (GPaige@tandmassociates.com) from our Grants Unit directly for more information or to get started in any of the programs listed above.