The Treasury Department has issued further information regarding the Paycheck Protection Program.

The website link is here:

PPP Information Sheet

  • Applications can be made for businesses starting April 3, 2020
  • When calculating the amount of the loan eligible for forgiveness, not more than 25% of the forgiven amount may be for non-payroll costs (i.e., rent, utilities and interest on mortgage obligations)
  • Interest rate - fixed at .50%
  • Loan due date - 2 years
  • Interest payments are deferred for 6 months (This implies that interest is not part of the forgiveness and will need to be paid).
  • It defines “Payroll Costs consistent with the Act but states that “Payroll Costs” will be capped at $100,000 annualized for each employee (as opposed to just the salary and wages portion of payroll costs being capped)

There is also a Lender Fact Sheet on the site that says: What Underwriting is Required?

  • You will need to verify that a borrower was in operation on February 15, 2020.
  • You will need to verify that a borrower had employees for whom the borrower paid salaries and payroll taxes.
  • You will need to verify the dollar amount of average monthly payroll costs.

Updates and Clarifications to List of Businesses Permitted to Operate

On March 30, Governor Phil Murphy and Superintendent of the State Police Colonel Patrick Callahan announced an Administrative Order amending which businesses are permitted to operate and clarifying the ways in which some businesses may operate in accordance with Executive Order No. 107.

The Administrative Order clarifies that:

  • Individual appointments to view real estate with realtors by individuals or families shall be considered essential retail business. Open houses are still considered impermissible gatherings.
  • Car dealers may continue to conduct online sales or remote sales that are consistent with current law. In the event of such a sale, the car may be delivered to the purchaser or the purchaser can pick up the car curbside or in the dealership service lane.
  • In accordance with the guidance released by the federal Department of Homeland Security, effective Tuesday, March 31, at 8:00 a.m., firearms retailers are permitted to operate – by appointment only and during limited hours – to conduct business which, under law, must be done in person. The NICS background check system will be up and running to process firearms purchases.
  • Golf courses are considered recreational and entertainment businesses that must close to the public and to members associated with private golf clubs.

To read the governor’s press release, click here.

NJEDA COVID-19 Grant/Loan Program Eligibility Wizard Now Available

Recently, Governor Phil Murphy announced that the New Jersey Economic Development Authority (NJEDA) Board approved a package of emergency assistance programs that will drive $75M of public and private funding to help small businesses and non-profits impacted by the COVID-19 Outbreak.

To help small businesses and nonprofits understand which programs they may qualify for, the NJEDA launched a new online “Eligibility Wizard”. By guiding users through a series of 25 easy-to-answer questions, the Eligibility Wizard provides information on which emergency assistance programs a business may want to consider for its specific needs and are encouraged to use this tool to help prepare in anticipation of emergency assistance programs officially launching.

The Eligibility Wizard can be found through the State’s COVID-19 Business Information Hub: or

Easy to Understand CARES Act Information for Business and Nonprofits

Please see the below links for several helpful resource guides that businesses and nonprofits can use to understand the CARES Act.




New Requirements for Public Works Contractor Registration (PWCR)

Please be advised that beginning on May 1, 2019 pursuant to amendments to N.J.S.A. 34:11-56.50 and N.J.S.A. 34:11-56.52(6), all new applicants and applicants for renewal of their contractor registration certificate must complete and submit a supplement to the PWCR application certifying participation in a registered apprenticeship program and possession of all required licenses, registrations or certificates.

Information and instructions about the new requirements are available at Public Works Contractor Registration.

Click for information on how you can participate in ABC-NJ’s Apprenticeship Program.



Associated Builders and Contractors (ABC) is a national construction industry trade association representing nearly 21,000 members. Founded on the merit shop philosophy, ABC and its 69 Chapters help members develop people, win work and deliver that work safely, ethically, profitably and for the betterment of the communities in which ABC and its members work. ABC's membership represents all specialties within the U.S. construction industry and is comprised primarily of firms that perform work in the industrial and commercial sectors.

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Associated Builders and Contractors (ABC) is a national trade association representing more than 21,000 members from more than 21,303 construction and industry-related firms. Founded on the merit shop philosophy, ABC and its 69 Chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which they work.