Small businesses located in Monmouth County can apply for grants of up to $10,000 starting on Monday, August 3, 8:00 a.m. at monmouthcountycares.com, Freeholder Director Tom Arnone and Deputy Director Sue Kiley announced during a press conference in Freehold this morning.
Monmouth County CARES, the Coronavirus Economic Assistance Grant Program for small businesses and nonprofits, is funded by part of the $108 million federal CARES Act grant provided to the County.
“The Freeholders have worked alongside chambers of commerce and mayors to deliver assistance to our small businesses and I am excited to announce that the Monmouth County CARES Economic Assistance Grant program will be ready to launch at 8 a.m. on Monday, August 3 at monmouthcountycares.com,” said Freeholder Director Arnone. “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.”
In order to qualify for a Monmouth County CARES Economic Assistance Grant, applicants must meet the following criteria:
- Physically located in Monmouth County since January 1, 2019 or earlier
- Negatively impacted by the COVID-19 pandemic
- $5 million or less in annual gross revenue
- 50 or fewer full time equivalent (FTE) employees, including the owner, as of March 1, 2020
Nonprofit Organizations registered with the IRS including local and regional chambers of commerce can also apply for this program. Banks, educational, governmental and medical services provides are not eligible.
Before the online application process opens on Monday, August 3, 2020 at 8 a.m., please be prepared to submit information electronically through the application portal regarding the costs your business incurred due to COVID-19, such as:
- TIN/EIN – This is your 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: routing and checking numbers
- Itemized list of eligible costs for reimbursement
Funding cannot be used for reimbursements already made under other 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 Director 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.”