Rahway, NJ — Building on the success of Rahway CARES Forgivable Loan Program, where $250,000 in forgivable loans were provided to small businesses, the City of Rahway and the Rahway Arts and Business Partnership again have joined forces to financially help small
businesses during the economic downturn due to the extension of the COVID19 restrictions.
Mayor Raymond Giacobbe, the Rahway City Council and the Rahway Arts and Business Partnership originally created the Rahway CARES (Coronavirus Aid, Relief, and Economic Security) Forgivable Loan Program in May of 2020 and were able to distribute more the $250,000 in forgivable loans to small businesses throughout the city. To continue to support
local businesses during the extended restrictions, compounded by the winter season, the City is continuing to provide monetary support by allocating an additional $250,000 to provide an extension of the CARES Program. Each eligible business will be able to receive up
“The COVID19 pandemic has wreaked havoc among small businesses all over the country
and the City of Rahway is no different. Over the last year, I have seen many of our local businesses struggle and unfortunately some have closed their doors,” Mayor Giacobbe stated. “It is my belief that, at the city level, we have a responsibility to assist our small businesses in any way that we can during these unprecedented times, which is why the City
of Rahway has allocated a total of $500,000 to the Rahway CARES Program to financially aid small businesses.”
Eligible businesses must be a brick and mortar located in the City of Rahway, with 20 or fewer full-time employees and be in business for at least one full year. Companies can use the grants for a range of recovery activities, including help with past business expenses,
outdoor heaters outdoor enclosures, personal protective equipment (PPE), construction for COVID19 related improvements, tech grant and food delivery service. National franchises, non-profit organizations, medical, and legal businesses are ineligible.
The program is administered for the City of Rahway by the Union County Economic Development Corporation, and SID assessment provides funds for the program. Assistance is available in the form of a grant.
For more information, please contact Lauren Ferrigno, City of Rahway Public Relations
Coordinator at firstname.lastname@example.org or (732) 882-5399.