As NJ business relief nears $8B, federal grant money runs dry May 6, 2021
7:29 am
As New Jersey businesses reach a combined $7.9 billion in federal relief loans under the Paycheck Protection Program, the funds paying for the Trump-era program have officially run out.
Now, the program has an uncertain future, and businesses are instead turning their attention toward a duo of Biden-era COVID-relief programs: One for restaurants and another for theaters and other live performance venues.
The federal Small Business Administration said it will continue paying out existing PPP loans. But new applications will be funded via an $8 billion pot of money from Community Financial Institutions, which are geared toward minority borrowers.
Covid-19 s Personal Finance Toll On Older Entrepreneurs forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
PATERSON The trees and shrubs growing from Hinchliffe Stadium’s crumbling grandstand sparkled with springtime green as officials on Wednesday conducted a ceremonial groundbreaking for the reconstruction of the historic ballpark.
Mayor Andre Sayegh has touted the $94 million project, which also will include a 315-space parking garage and a six-story, 75-unit senior citizen apartment building, as being crucial to Paterson’s revitalization efforts. The rebuilt stadium would have 7,800 seats.
Three former major league baseball players Harold Reynonds, CC Sabathia and Willie Randolph attended the ceremony in tribute to Hinchliffe’s national landmark status as one of the last two ballparks still standing from the segregated Negro Leagues of the mid-20th century.
Murphy signs $35 million in aid for N J restaurants crushed by COVID crisis nj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nj.com Daily Mail and Mail on Sunday newspapers.
Struggling N.J. arts, cultural venues can get lifeline from new COVID aid plans
Updated Apr 10, 2021;
Posted Apr 08, 2021
The McCarter Theater in Princeton has been closed for months due to Covid-19. The production of Sleuth had just started when they had to shut the theater down. Friday, August 14, 2020. Princeton, NJ USA (Aristide Economopoulos | NJ Advance Media) Aristide Economopoulos | NJ Advance Media
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The McCarter Theatre shared the same dire fate that countless businesses across that state were dealt with after they were forced to close because of the coronavirus: millions in lost revenue and mass employee layoffs.