The Borough of Pompton Lakes is announcing the Pompton Lakes Small Business Grant Program, a program that will directly assist eligible Pompton Lakes Businesses affected by the COVID-19 pandemic. 

Mayor Michael Serra and the Borough Council have made funds available by the Federal Government within the American Rescue Plan "dedicated to supporting Pompton Lakes’ small business community."

1. Eligible Businesses:

   1. To be eligible for the Pompton Lakes Small Business Grant Program,  your business must be located within the Business Improvement District of the Borough of Pompton Lakes.  An eligible business shall be defined as a business owned by an individual, a partnership, a corporation, or a limited liability company. 
   2. Non-profit organizations, real estate holding companies, franchises, and business behind on their tax payments are not eligible for a grant. 
   3. A business cannot have more than 20 full-time equivalent employees as of the second quarter of 2021.

2. Grant Amount: 

   1. Award amounts will be up to $5,000.00 per applicant. The Borough will make their final determination based on the total available fund and total number of businesses that apply. 

3. Purpose: 

   1. The grant shall be used to fund an eligible business for costs and expenses associated with the COVID-19 Pandemic ("COVID-19") resulting from business closure, partial closure, or business interruption. 

4. Certification in Support of a Grant Application: 

   1. The individual owner of a business applicant or the principal in any business entity which submits a grant application must certify under oath to the truth of the accuracy of any statement or representation contained in a grant application or a document submitted in support of a grant application. 
   2. The grant applicant must specifically certify to the following: 
      1. The applicant is currently registered as a business with the New Jersey Department of the Treasury, Division of Taxation, and is current with all federal and state payroll, sales, and income taxes. 
      2. The nature or type of business of the applicant. 
      3. The business of the applicant is open at the time of the grant application and the applicant will make a "good faith effort" to remain in business after receiving grant for at least 12 months. 
      4. The applicant has been adversely impacted by the COVID-19 Pandemic resulting in a reduction of its business operations whether due to a partial closure, a complete closure, or a change in the manner of doing business. This includes specific expenses related to COVID-19 or any specific "working capital" needed to maintain business operations. Working capital is defined as any direct operating expense associated with operating a small business within the Borough of Pompton Lakes. Operating expenses may include but are not limited to salaries/wages, rent/lease, business insurance, inventory, utilities, marketing, or unexpected COVID-19 related expenditures. 
      5. The applicant must disclose if they have received any other COVID-19 or Relief Funds from any of the eligible programs at the County, State, Federal, or Private Agency/organizations. 

   3. Documents Needed:

      1. Any grant application submitted must contain the following documents: 
         1. Form W9 - Request for Taxpayer Identification Number and Certification. 
         2. Q2 2021 Form WR-30 - Employer Report of Wages Paid (if applicable). 
         3. 2019 Business Tax Return. 
         4. 2020 Business Tax Return or extension. 
      2. Please note that all applicants will have 48 hours from being notified to submit any additional required documentation. 

   4. Failure to Use Funds Properly: 

      1. As this program is federally funded, any business who files a fraudulent grant application or misuses grant funds will be obligated to return any funds improperly received plus interest at the rate of 1% per annum.

   5. Application Period and Portal: 

      1. The application period is open from September 13, 2021 at 8:00 a.m. until September 27, 2021 at 11:59 p.m. Businesses are encouraged to apply online here.  Paper applications are available at the Borough Hall, Municipal Clerk's Office, 25 Lenox Avenue, Pompton Lakes, N.J. 07442 during normal business hours 8:30 a.m. - 4:30 p.m. 

For questions, businesses may contact pomptonlakesgrants@nwfinancial.com.