News Column

Sea Bright Businesses Approved for Recovery Grants and Loans

May 13, 2014



TRENTON, N.J., May 13 -- The New Jersey Economic Development Authority issued the following news release:

To showcase the rebuilding of small businesses impacted by Superstorm Sandy, the New Jersey Economic Development Authority (EDA) today delivered $50,000 Stronger NJ Business Grant checks to Angler's Marina and EF Mason Insurance in Sea Bright. Other Sea Bright businesses recently approved for grants and/or loans include Donovan's Reef, Northshore Sportech, Homes of Distinction Real Estate (Century 21), and Carriage House Marina.

"It has been a long road since Sandy, but we are grateful for the support of our loyal customers, fellow business owners, and the state," said Frederick Leonardis, Owner, Angler's Marina. "With the warm weather finally here, we are excited to kick off this summer in better shape than we were this time last year."

To date, the EDA has approved over $5.5 million in grants and loans to 14 businesses in Sea Bright.

"The EDA is committed to extending its support to recovering businesses impacted by Sandy through its Stronger NJ Business programs," said EDA Chief Executive Officer Michele Brown. "EDA business advisors are in Sea Bright today meeting with business owners whose applications require additional input so we can approve even more businesses for assistance."

Statewide, over 470 businesses have been approved for grants and loans totaling more than $50 million. Additionally, the EDA has recommended the approval of eleven municipalities for $10 million in Streetscape grants under the Stronger NJ Neighborhood and Community Revitalization (NCR) program, and provided $2.5 million in grants to five Community Development Financial Institutions offering recovery loans to Sandy-impacted small businesses.

The EDA is inviting applicants to one-on-one meetings with business advisors in their respective communities to assist impacted businesses with the completion of their applications. This will help expedite the process and ensure that additional burdens are not placed on the businesses. The EDA expects to hold workshops twice per week throughout May and into June.

Applicants are contacted via telephone prior to the workshops to schedule appointments and inform them of any documentation or information needed to complete their application. The first workshop was held in Seaside Heights on Tuesday, May 6th, followed by a workshop in Beach Haven on Thursday, May 8th.

The Stronger NJ programs are funded through New Jersey's Community Development Block Grant Disaster Recovery (CDBG-DR) allocation from the United States Department of Housing and Urban Development (HUD). Similar to other Sandy relief grant programs, there are strict federal eligibility requirements to which the EDA and applicants must comply.

For more information on the Stronger NJ Business programs, visit http://application.njeda.com/strongernjbusiness or call EDA's Sandy hotline at 1-855-SANDY-BZ (1-855-726-3929).

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