One Very Interesting Thing That Has Happened In Kearny, New Jersey
October 29, 2020
Did you know that the town of Kearny was awarded 1.24 million dollars in CARES Act in order to grant funding to eighty-three small businesses? Well if you are not aware, allow me to inform you about this amazing event that has happened to the town of Kearny. More importantly, how it has helped small businesses survive. Keep reading to find out more about it!
It was announced on October 20 by Mayor Alberto G. Santos and Hudson County Executive Tom DeGise that $1.244,946 million dollars was awarded to eighty-three small businesses located in the town of Kearny in order to help grant funding for them. The funding was distributed through Kearny’s share of the CARES Act and could be utilized for COVID-19 expenses such as payroll and mortgage. The town of Kearny worked very closely with Valley Bank to create an application process and prioritize the funding for businesses negatively affected by COVID-19.
alley Banks’s Director Of Business Banking NJ said “We were honored to partner with the Town of Kearny to assist them with sustaining small businesses and mitigate the impact of COVID-19 on Kearny small businesses through the CARES program.” Mayor Alberto G. Santos said “The Town Council and I recognize that small businesses are the backbone of our community and we look forward to continue working with the business community in the weeks and months ahead to overcome the challenges presented by the pandemic.” He later stated, “I’d like to thank our federal delegation for their work in bringing CARES Act funding to our community.”
In order to be qualified for the funding, a Kearny small business had to meet specific guidelines established by the Hudson County pursuant to the CARES Act. These guidelines were:
- Operating as a for-profit organization at the beginning of the COVID-19 pandemic.
- Has 25 or fewer employees.
- Its business is physically located in the town of Kearny.
If the business were able to meet these guidelines, they were awarded a maximum reward of $20,000 dollars.
In conclusion, many businesses were granted funds because of the CARES Act and that helped them pay mortgage, rent, supplies, etc. The Valley Bank helped process and prioritize the funding of businesses negatively affected by COVID-19 and this helped many small businesses located in Kearny survive after the COVID-19 pandemic ended
