Preregistration Deferred for Phase 2 of Small Business Emergency Assistance Loan Program


Maria Scandale
February 17, 2021
By Maria Scandale

The New Jersey Financial Improvement Authority has introduced that pre-registration for Period 2 of the Little Organization Unexpected emergency Support Financial loan Software is “deferred.” Pre-registration was originally scheduled to open on Feb. 10. The authority has not introduced a new date for the method.
Officers explained the authority postponed the start of the application to accommodate the roll-out of extra federal Paycheck Safety Software financing for modest companies. The extra PPP funding had not been announced when the NJEDA was planning to start the Small Business enterprise Crisis Aid Mortgage Software.
To date, much more than $2.1 billion has previously been loaned to New Jersey companies via the PPP in 2021. “The deferral will allow the NJEDA to tailor the Emergency Assistance Personal loan System to tackle gaps in the availability of federal funding and far more proficiently meet up with businesses’ exclusive requirements,” associates said.
The NJEDA will share more updates on the Emergency Assistance Loan Program and other COVID-19 reduction assets as they come to be obtainable. Info will also be posted on the COVID-19 Enterprise Hub:  —M.S.

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