There could be more financial hardship ahead for New Jersey residents.
While residents are able to defer mortgage payments right now, property taxes are still due on May 1. There’s a bill expected to be introduced tomorrow to delay those payments until July 15.
There’s some glitches impacting the new federal emergency loan program for small businesses, known as the PPP. The Small Business Administration’s processing system stopped working on Monday, making it impossible for loans to be approved and funds distributed. There’s currently a backlog of applications in New Jersey.
In Washington, both Democrats and Republicans agree that they want to provide more funding for the small businesses. Democrats are also seeking additional funding for hospitals and states.