NJEDA Announces $5M Grant Program for Route 80-Area Businesses

Grants and Low Interest SBA Loans Available for Small Businesses and Nonprofits

The New Jersey Economic Development Authority (NJEDA) on Saturday announced plans to launch the Route 80 Business Assistance Grant Program, a $5 million initiative to support small businesses and nonprofits near Exit 34 on Route 80 in Morris County impacted by sinkholes that have forced partial and full closures of the highway since December.

Pending NJEDA Board approval this week, the Route 80 Business Assistance Grant Program will offer funding to small businesses and nonprofits with up to 50 full-time employees. Eligible applicants must certify a revenue loss of at least $1,000 during the first quarter of 2025.

If approved, the program is expected to open for applications by the end of April. Full details, including eligibility requirements, will be posted on the NJEDA’s website and social media channels once finalized.

In addition, the U.S. Small Business Administration is offering low-interest Economic Injury Disaster Loans of up to $2 million for small businesses in Morris County and the surrounding counties of Hunterdon, Passaic, Somerset, Sussex, Union and Warren. The loans are intended to provide working capital to small businesses, agricultural cooperatives, aquaculture operations and most private nonprofits unable to meet financial obligations due to the Route 80 sinkholes and lane closures.

See the fact sheet for SBA approval

A Business Recovery Center will open Tuesday, April 8, at the Wharton Municipal Building at 10 Robert St. in Wharton to assist Morris County residents with SBA disaster loan applications. SBA representatives will be on site through Tuesday, April 22, to answer questions and provide assistance.

The center will be open from 10:30 a.m. to 5 p.m. on April 8. Regular hours are Monday through Friday, 8:30 a.m. to 5 p.m., and Saturday, 10 a.m. to 2 p.m. It will be closed on Sundays. Walk-ins are welcome, or appointments may be scheduled at appointment.sba.gov.

The deadline to apply for physical damage loans is June 2, 2025. The deadline for economic injury loan applications is Jan. 2, 2026. Applications may be submitted at lending.sba.gov.

Sinkholes, caused by the collapse of long-ago abandoned mineshafts, first impacted traffic along Route 80 East lanes in December, forcing temporary lane closures and detours around Exit 34. A full closure of Route 80 East resulted after a new sinkhole popped up in February. In March, a sinkhole discovered along Route 80 West prompted a complete shutdown of all westbound lanes, forcing Route 80 traffic to be detoured in both directions.

The New Jersey Department of Transportation estimates that it will have two westbound lanes reopened by May 4 and two eastbound lanes reopened by May 18. Full restoration of all lanes in both directions is estimated to take place by June 25.