These are challenging times, and the illness spreading globally will impact us all in various capacities, including socially and economically as well as physically. But the health and safety of our visitors, tenants, staff, and of the community at large, must be our top priority. We will be closely monitoring developments and the efforts to contain this pandemic and will reopen as soon as it is safe to do so.

The below is a list of resources for the business community. Please note that this information from outside agencies is changing rapidly, so visit each source for updates and guidelines (information collected as of March 30, 2020).

SBA

The below information is provided by the SBA gathered from their website on March 30, 2020. Please verify all information and direct all questions to the SBA. This is for informational purposed only.

Content

Economic Injury Disaster Loans and Loan Advance

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

SBA Debt Relief

The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.

Under this program:

  • The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
  • The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

SBA Express Bridge Loans

Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

Terms

  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan

Find an Express Bridge Loan Lender by connecting with your local SBA District Office.

Guidance for Businesses and Employers

The President’s Coronavirus Guidelines for America – 15 Days to Slow the Spread

The Centers for Disease Control and Prevention (CDC) offers the most up-to-date information on COVID-19. This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). For updates from CDC, please see the following:

The following interim guidance may help prevent workplace exposures to acute respiratory illnesses, including COVID-19, in non-healthcare settings. The guidance also provides planning considerations if there are more widespread, community outbreaks of COVID-19.

To prevent stigma and discrimination in the workplace, use the guidance described below and on the CDC’s Guidance for Businesses and Employers web page.

Below are recommended strategies for employers to use now. In-depth guidance is available on the CDC’s Guidance for Businesses and Employers web page:

  • Actively encourage sick employees to stay home
  • Separate sick employees
  • Emphasize staying home when sick, respiratory etiquette and hand hygiene by all employees
  • Perform routine environmental cleaning
  • Advise employees before traveling to take certain steps
    • Check the CDC’s Traveler’s Health Notices for the latest guidance and recommendations for each country to which you will travel. Specific travel information for travelers going to and returning from designated countries with risk of community spread of Coronavirus, and information for aircrew, can be found on the CDC website.
  • Additional Measures in Response to Currently Occurring Sporadic Importations of the COVID-19:
    • Employees who are well but who have a sick family member at home with COVID-19 should notify their supervisor and refer to CDC guidance for how to conduct a risk assessment of their potential exposure.
    • If an employee is confirmed to have COVID-19, employers should inform fellow employees of their possible exposure to COVID-19 in the workplace but maintain confidentiality as required by the Americans with Disabilities Act (ADA). Employees exposed to a co-worker with confirmed COVID-19 should refer to CDC guidance for how to conduct a risk assessment of their potential exposure.

Common Issues Small Businesses May Encounter:

  • Capital Access – Incidents can strain a small business’s financial capacity to make payroll, maintain inventory and respond to market fluctuations (both sudden drops and surges in demand). Businesses should prepare by exploring and testing their capital access options so they have what they need when they need it.  See SBA’s capital access resources.
  • Workforce Capacity – Incidents have just as much impact on your workers as they do your clientele. It’s critical to ensure they have the ability to fulfill their duties while protected.
  • Inventory and Supply Chain Shortfalls – While the possibility could be remote, it is a prudent preparedness measure to ensure you have either adequate supplies of inventory for a sustained period and/or diversify your distributor sources in the event one supplier cannot meet an order request.
  • Facility Remediation/Clean-up Costs – Depending on the incident, there may be a need to enhance the protection of customers and staff by increasing the frequency and intensity by which your business conducts cleaning of surfaces frequently touched by occupants and visitors. Check your maintenance contracts and supplies of cleaning materials to ensure they can meet increases in demand.
  • Insurance Coverage Issues – Many businesses have business interruption insurance; Now is the time to contact your insurance agent to review your policy to understand precisely what you are and are not covered for in the event of an extended incident.
  • Changing Market Demand – Depending on the incident, there may be access controls or movement restrictions established which can impede your customers from reaching your business. Additionally, there may be public concerns about public exposure to an incident and they may decide not to go to your business out of concern of exposing themselves to greater risk. SBA’s Resources Partners and District Offices have trained experts who can help you craft a plan specific to your situation to help navigate any rapid changes in demand.
  • Marketing – It’s critical to communicate openly with your customers about the status of your operations, what protective measures you’ve implemented, and how they (as customers) will be protected when they visit your business. Promotions may also help incentivize customers who may be reluctant to patronize your business.
  • Plan – As a business, bring your staff together and prepare a plan for what you will do if the incident worsens or improves. It’s also helpful to conduct a tabletop exercise to simulate potential scenarios and how your business management and staff might respond to the hypothetical scenario in the exercise. For examples of tabletop exercises, visit FEMA’s website at: https://www.fema.gov/emergency-planning-exercises

SBA Products and Resources

SBA is here to assist small businesses with accessing federal resources and navigating their own preparedness plans as described by the CDC’s Guidance for Businesses and Employers.

SBA works with a number of local partners to counsel, mentor and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.

Access to Capital

SBA provides a number of loan resources for small businesses to utilize when operating their business. For more information on loans or how to connect with a lender, visit: https://www.sba.gov/funding-programs/loans.

  • 7(a) program offers loan amounts up to $5,000,000 and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.
  • Express loan program provides loans up to $350,000 for no more than 7 years with an option to revolve. There is a turnaround time of 36 hours for approval or denial of a completed application. The uses of proceeds are the same as the standard 7(a) loan.
  • Community Advantage loan pilot program allows mission-based lenders to assist small businesses in underserved markets with a maximum loan size of $250,000. The uses of proceeds are the same as the standard 7(a) loan.
  • 504 loan program is designed to foster economic development and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets.
  • Microloan program involves making loans through nonprofit lending organizations to underserved markets. Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000.

Exporting Assistance

SBA provides export loans to help small businesses achieve sales through exports and can help these businesses respond to opportunities and challenges associated with trade, such as COVID-19. The loans are available to U.S. small businesses that export directly overseas, or those that export indirectly by selling to a customer that then exports their products.

  • Export Express loan program allows access to capital quickly for businesses that need financing up to $500,000. Businesses can apply for a line of credit or term note prior to finalizing an export sale or while pursuing opportunities overseas, such as identifying a new overseas customer should an export sale be lost due to COVID-19.
  • Export Working Capital program enables small businesses to fulfill export orders and finance international sales by providing revolving lines of credit or transaction-based financing of up to $5 million. Businesses could use a loan to obtain or retain overseas customers by offering attractive payment terms.
  • International Trade loan program helps small businesses engaged in international trade to retool or expand to better compete and react to changing business conditions. It can also help exporting firms to expand their sales to new markets or to re-shore operations back to the U.S.

Government Contracting

SBA is focused on assisting with the continuity of operations for small business contracting programs and small businesses with federal contracts. For more information on federal contracting, visit https://www.sba.gov/federal-contracting/contracting-guide

More specifically:

  • 8(a) Business Development program serves to help provide a level playing field for small businesses owned by socially and economically disadvantaged people or entities, and the government limits competition for certain contracts to businesses that participate. The 8(a) program offer and acceptance process is available nationwide, and the SBA continues to work with federal agencies to ensure maximum practicable opportunity to small businesses. 8(a) program participants should stay in touch with their Business Opportunity Specialist (BOS).
  • HUBZone program offers eligibility assistance every Thursday from 2:00-3:00 p.m. ET at 1-202-765-1264; access code 63068189#.  Members of the HUBZone team answer questions to help firms navigate the certification process.  For specific questions regarding an application, please contact the HUBZone Help Desk at hubzone@sba.gov.
  • Women-owned Small Business firms who have questions, please visit www.sba.gov/wosbready or write to wosb@sba.gov.

If a situation occurs that will prevent small businesses with government contracts from successfully performing their contract, they should reach out to their contracting officer and seek to obtain extensions before they receive cure notices or threats of termination. The SBA’s Procurement Center Representatives can assist affected small businesses to engage with their contracting officer. Use the Procurement Center Representative Directory to connect with the representative nearest you.

Local Assistance

SBA works with a number of local partners to counsel, mentor, and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.

NJEDA

The below information is provided by the NJEDA gathered from their website on March 30, 2020. Please verify all information and direct all questions to the NJEDA. This is for informational purposed only.

A package of new initiatives from the New Jersey Economic Development Authority includes a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and Community Development Financial Institutions (CDFIs), funding for entrepreneurs, and a variety of resources providing technical support and marketplace information. Taken together, they will provide more than $75 million of State and private financial support, with the opportunity to grow to more than $100 million if additional philanthropic, State, and federal resources become available. The initiatives will support between 3,000 and 5,000 small and midsize enterprises and are meant to complement recently announced federal economic recovery initiatives.

Applications are anticipated to be opened during the week of March 30th. To see which of these programs you are eligible for, use the NJ COVID-19 Business Support Eligibility Wizard.

Please click on each program below for more information, including full eligibility criteria.

Small Business Emergency Assistance Grant Program – A $5 million program that will provide grants up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service, and other services – such as repair, maintenance, personal, and laundry services – to stabilize their operations and reduce the need for layoffs or furloughs.

Small Business Emergency Assistance Loan Program – A $10 million program that will provide working capital loans of up to $100,000 to businesses with less than $5 million in revenues. Loans made through the program will have ten-year terms with zero percent for the first five years, then resetting to the EDA’s prevailing floor rate (capped at 3.00%) for the remaining five years.

Community Development Finance Institution (CDFI) Emergency Loan Loss Reserve Fund – A $10 million capital reserve fund to take a first loss position on CDFI loans that provide low interest working capital to micro businesses. This will allow CDFIs to withstand loan defaults due to the outbreak, which will allow them to provide more loans at lower interest rates to microbusinesses affected by the outbreak.

CDFI Emergency Assistance Grant Program – A $1.25 million program that will provide grants of up to $250,000 to CDFIs to scale operations or reduce interest rates for the duration of the outbreak.

NJ Entrepreneur Support Program – A $5 million program that will encourage continued capital flows to new companies, often in the innovation economy, and temporarily support a shaky market by providing 80 percent loan guarantees for working capital loans to entrepreneurs.

Small Business Emergency Assistance Guarantee Program – A $10 million program that will provide 50 percent guarantees on working capital loans and waive fees on loans made through institutions participating in the NJEDA’s existing Premier Lender or Premier CDFI programs.

Emergency Technical Assistance Program – A $150,000 program that will support technical assistance to New Jersey-based companies applying for State and US Small Business Administration programs. The organizations contracted will be paid based on SBA application submissions supported by the technical assistance they provide.

Updated: March 28, 2020
Source: NJEDA

State Of NJ Emergency Assistance Eligibility Wizard (EDA)

The below information is provided by the NJEDA gathered from their website on March 30, 2020. Please verify all information and direct all questions to the NJEDA. This is for informational purposed only.

The COVID-19 outbreak is causing extraordinary disruption for companies and non-profits across the Garden State. The NJEDA wants to make it easy for organizations to understand what support programs are available to you to help stabilize your operations and get back on a pathway to growth.

This is a beta version of the Eligibility Wizard that focuses on newly announced State Emergency Assistance programs and the SBA disaster loan program. We will be updating it regularly as new federal, state, local, and philanthropic programs become available. The Emergency Assistance Eligibility Wizard can be found here.

NJ Department Of Labor

The below information is provided by the NJDOL gathered from their website on March 30, 2020. Please verify all information and direct all questions to the NJDOL. This is for informational purposed only.

The COVID-19 virus is impacting all of our daily routines, with many employers feeling especially vulnerable.

To ease your financial burden, we want you – particularly our small business owners – to know that financial relief will be available in the wake of the COVID-19 pandemic.

Bipartisan federal legislation expected to be signed this week will provide small and mid-sized businesses with 100 percent compensation for providing two weeks of sick leave to employees, along with tax credits for providing up to three months of Paid Family Leave. New Jersey lawmakers are also working on providing robust relief to our valued business community.

Provided by the NJ Department of Labor / As of March 30,2020

NJSBDC and SCORE

The below information is provided by NJSBDC and Score gathered from their website on March 30, 2020. Please verify all information and direct all questions to the NJSBDC and Score. This is for informational purposed only.

The NJSBDC network is working remotely to help NJ’s small business owners overcome business issues regarding the Coronavirus (COVID-19) pandemic. All counseling sessions and training programs are being done using online services to keep everyone healthy and safe. They offer free services to those businesses that qualify. For our local SBDC, visit MOSBDC.

Facebook Small Business Grants Program

The below information is provided by Facebook gathered from their website on March 30, 2020. Please verify all information and direct all questions to Facebook. This is for informational purposed only.

Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate. They will begin taking applications in the coming weeks. In the meantime, you can sign up to receive more information when it becomes available. Visit here for more information and to sign up for updates.

Google Business Listings

The below information is provided by Google gathered from their website on March 30, 2020. Please verify all information and direct all questions to the Google. This is for informational purposed only.

Businesses affected by COVID-19: Guidance on updating info and temporary closures

Updated: 30 March 2020

If your business is affected by COVID-19, update your Google My Business profile to provide the most accurate information to your customers. For example, change your hours of operation if you’re closing early, or add more details to your description, or mark your business “Temporarily closed” on Google. Marking your business temporarily closed will not affect search ranking and it will be treated similar to open businesses. You can also update if your restaurant moves to takeout or delivery only. The updates will show on your Business Profile on Google Search and Maps.

Important: We may review your changes for quality before publishing them, so the changes may not be immediately available on Google Search and Maps. Learn more about limited Google My Business functionality due to COVID-19.

Here are ways to make sure your customers have the latest information about your business:

Change your business hours

If your business hours have changed, update the times when you’ll be open or closed. The hours will show when the customer visits your Business Profile, and they’ll know exactly when to visit. Learn how to change your hours.

Manage your information

Explain whether or not your business operations are affected by COVID-19. You can share information about any extra precautions your business is taking, such as moving to takeout or delivery only. You can also share if you’re providing any extra services to the community, or whether you’re experiencing delays. Learn more about editing your business description.

Create a post

Share more detailed and timely updates about what’s going on with your business through Posts. For example, add information about closures or reduced hours, or suggest the purchase of gift cards to support your business. You can continue to use Posts to directly communicate with your customers on a regular basis as your business changes. Learn how to create a post.

Tip: To make sure COVID-19 content is more noticeable to your customers, use the new COVID-19 post type on Google My Business.

Connect with your customers

Download the Google My Business app and turn on messaging as a way to help your customers reach you. If you aren’t reachable by phone or it’s after your business hours, messaging can help customers get the support they need.

Tip: To let your customers know your business status, you can write an automatic welcome message.

Temporary closures

You can now mark your business “Temporarily closed” on Google. Google also relies on authoritative data sources, where available, to mark certain types of places as “Temporarily Closed” on Google Search and Google Maps.

Forbes Small Business Relief Tracker

The below information is provided by Forbes gathered from their website on March 30, 2020. Please verify all information and direct all questions to Forbes. This is for informational purposed only.

Some 30 million American small businesses are high on the coronavirus’ list of victims. Nearly half of these companies say the pandemic is to blame for unprecedented revenue declines, and with no clear end in sight, the possibility of temporary closures has become a reality for many.

In an effort to help business owners find financial relief, we’ve rounded up all of the government agencies, private companies and nonprofit organizations that are extending support. (See here for the business software companies that are also rolling out free products and services.)

We’ll be adding to this list as the situation develops, so check back for updates.

Federal Government: 

The $2 trillion stimulus bill will include a $367 billion program aimed at helping small businesses continue to make payroll.

Today In: ForbesWomen

The U.S. Small Business Administration (SBA) is offering Economic Injury Disaster Loans up to $2 million per small business, and business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan. (SBA’s traditional loan programs also remain available.)

The Main Street Business Lending Program, a new initiative announced by the Federal Reserve, will complement efforts by the SBA and further support lending to eligible small and medium-sized businesses.

Amazon announced a $5 million Neighborhood Small Business Relief Fund to provide cash grants to local Seattle small businesses. From March 26 to April 30, Amazon Lending is also pausing repayment from sellers who have outstanding loans, and seller loans will not accrue interest during this time period.

Bacardi has pledged $3 million in relief to bars and restaurants affected by the COVID-19 shutdowns as part of its #RaiseYourSpirits campaign.

Facebook announced a $100 million grant for small businesses impacted by COVID-19 and launched the Business Resource Hub, which features recommendations to help small businesses stay connected to customers and stay on track.

Faire, an online marketplace startup, launched a financial calculator tool that helps small businesses understand the changes in their finances before and after COVID-19.

Fattmerchant, a payment technology provider, has partnered with Gift Up! to allow its clients to sell virtual gift cards. Gift Up! is waiving its usual 3.49% fee for Fattmerchant’s members’ first $5,000 in gift card sales.

GoFundMe has partnered with Yelp to allow independent businesses to start fundraisers and accept donations through Yelp’s pages. The Yelp Foundation and GoFundMe also both pledged to donate up to $1 million to the GoFundMe.org Small Business Relief Fund.

Google’s pledge to donate $800 million for COVID-19 relief includes efforts to help small and medium-sized businesses gain access to capital.

James Beard Foundation started a Food and Beverage Industry Relief Fund to provide microgrants to independent food and beverage small businesses in need.

JPMorgan pledged $50 million to help struggling customers, and $8 million in aid to small businesses, specifically.

Kabbage launched an online hub to help boost sales for U.S small businesses impacted by COVID-19, including a system through which businesses can sell gift cards to consumers for use at a later date.

Kangaroo wants to support business owners who are unable to be physically present at their offices: The security startup is offering free (for three months) security camera and monitoring kits.

Kiva is urging small businesses to apply for 0% interest loans for up to $15,000. The company is also offering a longer grace period: New borrowers can access a grace period of up to six months.

MainVest, a crowdfunding platform, announced its new Main Street Initiative: a $2,000, 0% interest, 120-day loan for restaurants or other brick-and-mortars affected by the shutdown, in addition to its normal fundraising offerings.

Mark Cuban Cos. will reimburse employees for any lunch or coffee purchases from local independent small businesses.

Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest-rate loans to business owners in need.

Ring announced its Neighbor Pledge initiative, which encourages individuals and groups to create pledge groups to support local businesses.

Seated launched a hotline for restaurant owners to get advice from finance and law experts in the hospitality industry.

The National Restaurant Association Educational Foundation announced the Restaurant Employee Relief Fund that will provide grants on a first-come first-served basis to restaurant owners and employees in need.

The Restaurant Workers’ Community Foundation formed a COVID-19 Emergency Relief Fund for small businesses and their restaurant workers, and is accepting donations.

Wefunder, an investment crowdfunding platform, launched a Coronavirus Crisis Loans program enabling small businesses to crowdfund loans of $20,000 to $1 million from supporters.

Yelp CEO Jeremy Stoppelman announced the company is providing $25 million in coronavirus relief for independent restaurant and nightlife businesses in the form of waived advertising fees, and free advertising, products and services.

City Of Asbury Park

The below information is provided by the City of Asbury Park gathered from their website on March 30, 2020. Please verify all information and direct all questions to the City of Asbury Park. This is for informational purposed only.

Sign up to receive emergency updates from the City of Asbury Park by texting 07712 to 888-777 or go to www.nixle.com to sign up and manage your account. All alerts are posted here as well.

 

Asbury Park Boardwalk Closed to the Public to Mitigate Spread of COVID-19 Effective 3/27/20

Effective immediately, Asbury Park Boardwalk will be closed to the public until further notice to mitigate the spread of COVID-19.

Asbury Park Beaches will remain open for now, but are subject to closure should social distancing guidelines not be followed. Access across the boardwalk to the beach will be available at First, Third and Sunset Avenues. Access to the beach will also be available at Deal Lake Drive.

APBoardwalk Resources

Our digital reach is available for tenant promotions. Please continue to reach out us with any updates, live streams, messages from your business that you would like to share with the public and we will continue amplify your message. Stay safe everyone.