(Camden, NJ) — With a little more than a month left to apply, the Camden County RECOVERS Small Business Grant Program still has more than $9 million available to give away to small businesses. Eligible businesses can receive up to $10,000 from the program.
“Small businesses are the cornerstone of our community and their success spreads to all aspects of our economy,” said Commissioner Director Louis Cappelli, Jr. “We’re proud to have approved nearly $1 million to eligible businesses, but encourage others to apply before the end of November.”
Since the inception of the $10 million program in September, the county has approved 237 grants worth a total of $875,000. This is the second grant program offered by the county for small businesses affected by the COVID-19 pandemic, and the application period ends Nov. 30.
To apply for the program, small businesses must meet the following eligibility rules:
- Applicants are prioritized based on COVID-19 related funds received (PPP, EIDL, etc.). Businesses that have not received COVID-19 funds are considered first.
- Business must be located in Camden County since January 1, 2019 as a: Sole Proprietorship, Partnership, Corporation, Non Profit, LLC
- Annual Revenue: Must be less than $5 Million.
- The business must employ 25 employees or less or full-time equivalents as of March 1, 2020.
The grants are calculated based on 2020 revenue. If revenue is:
- Less than $25,000, the award is $2,500 (if funded last program, award is $1,250)
- $25,000 but less than $100,000, the award is $5,000 (if funded last program, award is $2,500)
- $100,000 but less than $500,000, the award is $7,500 (if funded last program, award is $3,750)
- Greater than $500,000 the award is $10,000 (if funded last program, award is $5,000)