COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM

COVID -19 FUNDS (CDBG-CV)

Small businesses with 5 employees or less located in the East Franklin section of Franklin Township as delineated within the boundary map below are eligible to apply for a grant of up to 10,000 per brick and mortar business. The program provides short term working capital assistance to enable the viability of the business and the retention of jobs during the interruption of business related to the impact of the coronavirus pandemic and resulting social distancing.

GRANT ELIGIBILITY CRITERIA

• Business size eligible for assistance- 5 employees or less including the owner

• Located in the East Franklin Section of Franklin Township

• Brick and mortar business  structures

• Business owner may own or rent the structure

• Business owner or certain business employees must meet CDBG income criteria

• Business must have a current State of New Jersey Business Certification  and a valid business permit if required by Franklin Township

• Business must be willing to retain in employment either full-time or part-time employees an equivalent of at least 1 full-time low or moderate income Franklin Township resident for a period of 3 years. The number of employees to be retained a minimum of 1 FTE employee.

• Business must submit a salary schedule for each position on staff that meets the income guidelines included in this package.

• Business loan is forgivable after a three year period provided that grant conditions are met.

• Business must agree to a six month initial monitoring and 2 annual monitoring for compliance for loan forgiveness.

• Business must certify to none duplication of benefits, that CARES Act funding has not been received from another source.

• Business must have a DUNS number registered at Dun and Bradstreet, if not you must register for one https://www.dnb.com/duns-number/get-a-duns.html

AREA OF ELIGIBILITY

The area from Hawthorne Street at Hamilton Street  to Somerset Street and Churchill Street encompassing Census Tracts 532 and 533 in Franklin Township. MAP (PDF)

EMPLOYEE INCOME ELIGIBILITY

Please identify employees of the business by title and position as utilized in the business; please provide job description, duties and salary range for each position. Employees must have incomes within the ranges stated below for a family of one in Franklin Township Somerset County. Do not count total family income for the employee household only the earnings as employed by your business for which you are seeking business assistance.

SOMERSET COUNTY SECTION 8 INCOME LIMITS FOR A FAMILY OF ONE

ADDITIONAL CRITERIA

Each application submitted will receive a number, each application deemed complete after review by Township staff will be entered into a lottery drawing.  Applicants will receive their number upon submission and will be notified via email if application is deemed complete for the lottery. Final applicants will be able review lottery results on the Township web page at the Community Development Block Grant tab. Applicants not selected will be retained in order selected should additional grant funds become available.

REMINDER: Applications are AVAILABLE UNTIL FUNDS ARE EXHAUSTED

CORONAVIRUS MICROENTERPRISE LOAN APPLICATION

APPLICATION SUBMITTAL

Completed applications will be included in a lottery drawing and will be funded based upon the drawing results.

REQUIRED DOCUMENTATION

• MICROENTERPRISE LOAN APPLICATION
• COPY OF THE APPLICANT BUSINESS’ES CURRENT NEW JERSEY BUSINESS CERTIFICATION AND FRANKLIN TOWNSHIP BUSINESS REGISTRATION IF APPLICABLE
• INTERNAL REVENUE SERVICE (IRS) W-9
• BUSINESS QUARTERLY FEDERAL TAX RETURN DATED DECEMBER 31, 2019
• BUSINESS QUARTERLY FEDERAL TAX RETURN DATED MARCH 31, 2020
• BANK STATEMENTS
• CURRENT BALANCE SHEET
• DUNS NUMBER

DO NOT PROCEED WITH THE FORM UNTIL ALL DOCUMENTS ARE UPLOADED. (see attached form above)