On July 23, 2020, New Jersey Governor Philip D. Murphy announced the Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP). The SBL-EAGP will use $6 million in CARES Act funding to provide grants of up to $10,000 to small businesses in 64 eligible municipalities impacted by the COVID-19 pandemic to assist with lease costs.

The program is targeted to businesses with 5,000 or fewer square feet of leased space of either:

The grants will be provided on a first-come first-served basis, and applications will open online on August 10, 2020. Additional information can be found here.

The SBL-EAGP will provide critical short-term relief to small commercial tenants struggling to cope with the financial impact of the COVID-19 crisis, as well as to the landlords they rent from. Landlords who have commercial tenants requesting rent relief should confirm whether the tenant is eligible for and recommend the tenant apply for a grant under this program before negotiating lease modifications or rent waivers or deferrals.