An anonymous donor gave $250,000 to a rent relief program for New Jersey small business owners.
The Morristown Partnership in Morristown, New Jersey, received $250,000 to start a fund called the Morristown Partnership Commercial Rent Relief Grant Program, which will give select small businesses up to $20,000 in rent relief, the Morristown Daily Record reported.
The businesses would be selected via lottery, and funding will cover up to three months rent.
“The turmoil of 2020 and its impact on our small-business community is a challenge no one, including the partnership, could have anticipated,” said Jennifer Wehring, executive director of the partnership. “We are hopeful that this grant program will provide much-needed relief to our downtown small businesses, as well as benefit the property owners, and bring all closer to a full recovery.”
The partnership will be accepting grant applications for the next two weeks and will do so until October 7 at 5 p.m.
The winning applicants will be chosen at random through a lottery system and notified of their status by October 15.
Grant awards will be used to cover rent between November and January 2021 and cannot exceed $20,000.
The businesses’ landlord must also agree to a rent reduction during the three months of the grant award.
The program’s anonymous donor has inspired others to pledge more funding in support of the partnership, according to the partnership.
Those interested in contributing to the program can contact the Morristown Partnership at email@example.com or call (973) 455-1133.