Trenton Begins Sending Checks for Revolving Loan Program
Trenton N.J. – Mayor W. Reed Gusciora announced that the City’s new small business loan program relating to the COVID-19 pandemic, has begun sending out checks to approved establishments. The program allows the City to provide loans to Trenton-based businesses who suffered losses during the pandemic.
Director Housing and Economic Development (HED), Ben Delisle, stressed that, “Trenton is the only city in NJ that I am aware of that created a loan program like this. We committed over $2 million to the small business loan fund and rolled it out in a very short period. The money will help our City’s small businesses stay afloat during this shutdown.”
Local business owner, Miosotis Belmarez, of JMC Solutions Mutiservices on 210 South Clinton said, “The City of Trenton awarded me a loan for my small business. Unfortunately, my business was completely inoperable once we closed our doors, unable to even work remotely to serve our clients and acquire new ones. I was still plagued with business expenses, including keeping my employees on the payroll. The small business relief loan will allow me to survive financially for at least 3 months. Hopefully, our businesses will reopen soon and small business owners like myself can recover from this great hardship.”
Downtown restaurant owner, Maurice Hallett from 1911 Smoke House Barbecue at 11 West Front Street said, “1911 Smoke House is eternally grateful for the support the city of Trenton has provided to help us weather this pandemic storm. These funds along with the support from city residents has helped us to keep our employees working. We look forward to be a vital hospitality business in Trenton’s downtown for years to come.”
“Trenton is much more than state government buildings and our small businesses are vital to the economic stability of the City, added Mayor Gusciora. “We had to do everything we could to prevent generational storefronts to shut their doors, particularly when many of our residents are employed there.”
Gusciora noted that the Trenton Emergency Loan Program utilized existing monies from the City’s Urban Enterprise Zone (UEZ) funds and offers a 2% rate loan for Trenton businesses who have been impacted by COVID-19. The mayor noted that the City’s own loan program exceeded state or county programs set up to assist businesses with their economic recovery.
“While other programs ran out of money quickly, the Trenton program is still going strong and accepting applications,” said Gusciora. “Unlike the federal Paycheck Protection Program, we have also targeted small and minority-owned businesses to ensure they survive the pandemic’s shutdown.”
Qualified City businesses could receive up to $20,000 in assisted loans and are processed through the City’s Housing and Economic Development Department. The mayor noted small business loan applications are available on the City website for those interested. Business representatives may contact Economic Development Specialist Eric Maywar via email at firstname.lastname@example.org.
About 1911 SmokeHouse - At 1911 SmokeHouse Bar-B-Que – Fresh and Homemade is our standard. Our commitment to food quality and hospitality is at the core of why we exist. We pride ourselves with providing our guests (all guests are friends) a great environment to enjoy the company of their family and friends while enjoying some of the best BBQ in the country. We plan on creating an entirely new meaning to “Trenton Makes” by adding to our city’s roster, “Trenton Makes the World’s best BBQ.”
About JMC Solutions - JMC Solutions, Corp. has been providing personalized and timely consultation to our people since 2017. I know how complex and overwhelming the legal process can be. This is why my goal is to help you understand your rights and the issues affecting your case.
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