NEW COVID-19 Assistance for Atlantic County – Atlantic County Improvement Authority
Press Release Economic Assistance Programs
NEW COVID-19 Assistance!
The Atlantic County Improvement Authority will be administering two COVID-19 Economic Injury Programs for Atlantic County
Forgivable Business Loan Program
Rental/Mortgage Assistance Program
Applications will be available here on Friday November 13, 2020
CDBG-CV (Community Development Block Grant) Economic Injury Loan Program
Application for Business Assistance
CDBG-CV COVID-19 Business Assistance Deferred, Forgivable Loan Program The purpose of this program is to provide short-term, forgivable working capital loans intended to assist business in recovering from revenue losses and increased expenses resulting from Social Distancing requirements and mandated restrictions and limitations to normal operating procedures imposed in response to the Corona Virus.
The Coronavirus crisis and the disruption of business revenues and potential of job loss serves as the purpose of this grant program. The business must submit a statement of Coronavirus business disruption and/or revenue loss and explain how the CDBG assistance will be used to maintain the employment of existing employees.
Part One: Working Capital for Payroll, Rent and Overhead Program Objective
Avoid job loss due to business closures related to social distancing requirements by providing short term working capital assistance to enable the retention and/or creation of jobs held by or made available to low- and moderate-income persons. For example, mandated restrictions on pre-pandemic levels of operations such as
Part Two: Cost Reimbursement for Equipment, Materials and Supplies
Objective: Assist in the retention and/or creation of jobs held by or made available to low and moderate income persons by providing reimbursement for costs incurred in the purchase and installation of equipment, materials and supplies, and/or the reconfiguring of work spaces to prevent the spread of infectious disease by establishing protocols for safe business operations. For example:
- Restaurants purchase of tents, tables, and safety barriers to accommodate outdoor dining,
- Costs incurred to reconfigure worksites to accommodate social distancing,
- Personal protective equipment (PPE) purchases for employee and customer safety.
Application Fee of $200.00 – Checks should be mailed to:
Atlantic County Improvement Authority
1333 Atlantic Avenue, Suite 700
Atlantic City, NJ 08401
Attn: Lisa Duffner
The ACEA Team
Atlantic County Economic Alliance
600 Aviation Research Boulevard
Suite 120
Egg Harbor Township, NJ 08234
