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Dolores R. Kelley is a Shareholder and member of Stark & Stark’s Business & Corporate, Real Estate, Zoning & Land Use and Beer & Spirits Groups. Ms. Kelley handles a wide range of matters for the real estate industry, including commercial transactions, leasing, condominium and homeowner association formation, and representation of developers and landowners in land use applications. In addition, Ms. Kelley represents clients in the beer, wine, and spirits industries on a variety of issues including corporate formation, financing, licensing leasing, acquisitions, and intellectual property law.

The New Jersey Economic Development Authority (NJEDA) has approved a series of aid packages for small/mid-size businesses in the amount of $75 million. The NJEDA programs focus on businesses that have been hit the hardest by COVID-19.

One of the NJEDA programs, the Small Business Emergency Assistance Loan Program is a $10 million program that will provide up to $100,000 towards working capital loans to businesses and eligible non-profits with less than $5 million in revenues.

The Small Business Emergency Assistance Loan applications will open April 13, 2020 at 9:00 a.m.

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The Paycheck Protection Program (“PPP”) officially launched April 3, 2020. In the application for a PPP loan, applicants are required to disclose if the applicant or any owner of the applicant is an owner of any other business, or has common management with, any other business and if so, for the applicant to list such businesses and the relationships. This question relates to eligibility to receive a PPP loan as only businesses with 500 or fewer employees qualify (unless the applicant falls in one of the exceptions as provided in our previous posts).

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On March 27th, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Under the CARES Act the Small Business Administration (SBA) will implement the Paycheck Protection Program, which will allocate $349 billion as loans to small businesses, 501(c)(3) organizations, and veteran’s organizations affected by the spread of

The New Jersey Economic Development Authority (NJEDA) has approved a series of aid packages for small/mid-size businesses in the amount of $75 million, which could grow to $100 million depending on matching grants.

The NJEDA programs focus on businesses that have been hit the hardest by COVID-19. The initiatives include a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and a variety of resources providing technical support.

The NJEDA hopes the initiatives will provide relief to 3,000 and 5,000 small and mid-size businesses in the State. Some of these NJEDA programs will begin accepting applications as early as March 30th. Below you will find each of the NJEDA’s programs, a summary of each program and eligibility requirements.

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As of Friday March 27th, the US Congress has voted to advance the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), that will create an estimated $2 trillion emergency relief package to aid millions of individuals, the public health sector, hard-hit industries, and small businesses effected by COVID-19.

The CARES Act will allocate $350 billion to provide relief to certain businesses through 100% guaranteed Small Business Administration (SBA) loans, a portion of which the SBA would forgive based on the employer meeting certain criteria.

Below you will find a summary of provisions in the proposed legislation applicable to businesses.

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While county recording offices are shutting down or limiting access across New Jersey, parties to real estate and loan transactions are wondering the impact the shut downs will have on the transaction. While this is a fluid situation that is changing daily, or even hourly, the facilitators of closings, including attorneys, title companies, and lenders are making every effort to see that transactions are not delayed.

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On May 28, 2019, the Division of Alcoholic Beverage Control (“ABC”) issued a new Special Ruling for New Jersey craft brewery licenses with changes that address concerns raised by the industry. The previous Special Ruling, which was quickly suspended six months ago after strong criticism, is now officially rescinded.

The ABC drafted the new Special Ruling after consulting with some industry leaders and other interested parties. Like the previous ruling, it aims to restrict NJ limited breweries from competing with bars and restaurants who hold licenses allowing full retail privileges. The changes in the new ruling, however, reflect key issues raised by breweries about their ability to promote and build their businesses.

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A new bill in New Jersey was introduced last week which would amend the 2012 law that established microbreweries in the state and governs their operations and restrictions.

This is the first attempt so far to legislatively address the craft brewing industry after a special ruling was issued by the New Jersey Division of Alcoholic Beverage Control (ABC) which implemented restrictions on events and other brewery operations. The ruling was suspended indefinitely only a week later after significant public backlash from both brewers and state government officials.

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