A new EDA program is designed to help some of the most vulnerable in New Jersey’s business community — entrepreneurs struggling to keep their businesses afloat. The $5 million Entrepreneur Guaranteed Program encourages private sector investors to provide working capital loans to businesses in which they’ve already made an investment. The EDA will guarantee a portion of the new loan.
Some small businesses which missed out on funding from the SBA’s first Paycheck Protection Program are going after the big banks. A class-action lawsuit accuses the banks of unfairly prioritizing loan requests from their larger customers in order to get bigger fees.
Thirteen activist groups in New Jersey are urging state lawmakers to expand benefits for essential workers, including additional sick time.
