New Jersey 30 Day Fund Announces First 10 Loan Recipients
Nonprofit Organization Provides $3,000 Forgivable Loans to Small Businesses Fighting to Recover from COVID-19 Crisis
Morristown, New Jersey (June 18, 2020) – The New Jersey 30 Day Fund, a nonprofit founded by former Governor Chris Christie and his wife Mary Pat Christie, today announced that it has awarded its first forgivable loans to 10 small businesses across the Garden State with dozens more pending approval. Each of these New Jersey businesses received a grant of $3,000 to bolster their efforts to financially recover from the COVID-19 pandemic. These first ten loan recipients cover a diverse range of industries and locations from a bakery in Newark, to a beauty salon in Camden County, to an ice cream shop in Lavallette.
The Fund, modeled after the successful Virginia 30 Day Fund, provides $3,000 forgivable loans to small businesses owned and operated by New Jersey residents. To be eligible, companies must have between three and 30 employees, be based in New Jersey and have been operating for at least one year, and be owned and operated by a New Jersey resident.
“Supporting vital small businesses during these trying times is exactly what this effort is all about and we couldn’t be more excited to get these proud and hardworking entrepreneurs the resources they need to continue operating and creating jobs,” said former Governor Christie. “Starting a business takes a lot of guts and a willingness to work long hours with often little fanfare – and right now it’s more important than ever that they know help is on the way.”
NJ 30 Day Fund first 10 loan recipients:
● Mr. Tod’s Pies, Tod WIlson, Newark
● KR Home Improvement LLC, Nicole Glass, Sicklerville
● Mommamia LLC DBA stewarts of Cape May, Kelly Green Dougherty, Cape May
● Cosmic Blends, Dan Barr, Ocean City
● Retro Fitness West Long Branch, John & Alyssa Braycewski, West Long Branch
● BAM Desserts, Melissa Jenkins, Somerset
● The Music Man LLC, Josephine Sessa Agliata, Lavallette
● NJ Rubber, Nidal Jelahej, Newark
● Infinity Nail Salon, Phuong Truong, Pennsauken
● Lucy’s Gift, Marissa Spagnoletti, Florham Park
The funds disbursed to small businesses by the New Jersey 30 Day fund do not need to be repaid. If businesses who receive the Fund’s assistance do, at a later date, wish to “pay it forward”, they may do so by directing those dollars back to the Fund, which will disburse the funding to another New Jersey business in need.
“The support the NJ 30 Day Fund has received since launching less than a week ago has been nothing short of incredible with more than 100 individual donations,” said Mary Pat Christie. “We give our most heartfelt thanks to all those who have donated thus far and encourage others to do the same and give back to the people who have given so much to our local communities.
“Last but certainly not least, we owe a debt of gratitude to our tremendous student volunteers from Seton Hall University as well as undergraduates from top universities throughout the country, who are critical to our application review process. We couldn’t do this without them.”
The NJ 30 Day Fund awarded its very first $3,000 forgivable loan to Tod Wilson, owner of Mr. Tod’s Pies in Newark, New Jersey. Founded in 2002, Mr. Tod’s Pies is a southern style comfort bakery nationally recognized for its excellence and home-style taste. It has been featured in numerous media outlets including New York Times, The Today Show, The Food Network, CNBC, and Oprah Magazine.
“Small business is the lifeblood of any economy, so we’re beyond grateful for what the New Jersey 30 Day Fund is doing – allowing us to continue to employ, bring new people aboard, and most importantly, be able to put a nice, warm, delicious sweet potato pie on everyone’s dinner table,” said Tod Wilson, Owner of Mr. Tod’s Pies. “On behalf of everyone at Mr. Tod’s Pies, I want to thank Governor Chris Christie, First Lady Mary Pat, and everyone at the New Jersey 30 Day Fund for selecting us as one of the first recipients of their relief grant. We’re going to all work together – continue to make Jersey strong and be America’s pie company based right here in the Garden State.”
The NJ 30 Day Fund was founded by Governor Chris Christie and Mary Pat Christie. The fund advisory board includes Greg Brown, Chairman and CEO of Motorola Solutions; Brent Saunders, former CEO of Allergan; Keith Banks, Vice Chairman of Bank of America; Jacquie Cleary, President and CEO of Atlas Data Systems; Joe Longo, Owner of Longo Electric; Tom Scrivo, Partner at O’Toole Scrivo Law; Al Leiter, former Major League Baseball player; Kathleen Boozang, Dean of Seton Hall University School of Law; and Joyce A. Strawser, Dean of Stillman School of Business, Seton Hall University.
NJ 30 Day Fund is a volunteer-powered nonprofit with all funds raised going directly to small businesses. Donations and applications can be submitted at www.nj30dayfund.com