Camden County to release $20 million in CARES funding for small businesses

CAMDEN, New Jersey (WPVI) -- Starting July 23rd, Camden County will start taking applications for $20 million dollars in grants for small businesses.

The money comes from the federal government's Coronavirus Aid, Relief, and Economic Security (CARES) act to assist struggling businesses during the COVID-19 pandemic.

Small business owners can apply for up to $10,000 for COVID-caused or related expenses.

This is for businesses that employ fewer than 25 people as of March 1.

Those businesses must have earned $5 million dollars or less in total revenue in 2019.

County officials said on Wednesday they are trying to reach businesses that have not received any financial assistance as of yet.

"Those businesses will receive a priority as these applications are received in Camden County," said Freeholder Director Louis Cappelli Jr. "The applications will be made online July 23rd at 8 a.m. in the morning and it's a first-come, first-served basis. So, as you receive the applications, if you're first in line, and you qualify. You'll be the first to receive the grant money."

There are some businesses that do not qualify for this money including banks or franchises that are not completely owned locally.

Non-profit and for-profit companies are eligible.

County officials are encouraging business owners who are interested to get on the website and get ready to apply as soon as the program launches at 8 a.m. on July 23rd.

In order to qualify, the applicant must meet the following criteria:

• Business revenue has been negatively impacted by the COVID-19 pandemic.
• The business has been located in Camden County since January 1, 2019 or earlier
• The business employed 25 or fewer employees as of March 1, 2020
• The business earned $5 million or less in total revenue during 2019

The business must not operate in any of the following categories:

• Banks or other financial institutions
• E-Commerce
• Businesses where the primary products or services are oriented to specific ages (vaping, liquor stores, etc.)
• Franchises, except for those franchises which are completely locally-owned and operated