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Governor Sununu Announces $595 Million inCOVID-19 Recovery FundsThese funds are a major step forward in our efforts to provide Granite Staters affected by the COVID-19 public health crisis with relief. We are continuing to expand funding for our hospitals and health care facilities, we are committing an unprecedented amount into our non-profits and Main Street small businesses, investing in our farmers and food supply systems, and continuing to put dollars towards our childcare system, frontline workers, and higher education system. This is about delivering relief for Granite Staters as quickly as possible. - Governor Chris Sununu, May 15, 2020NEW State Recovery Funds
Prequalification Due Date: May 29, 2020The Governor authorized the allocation and expenditure of an initial $400 million in emergency funding from the CARES Act Coronavirus Relief Fund (“flex funds”) to provide emergency financial relief to New Hampshire small for-profit businesses due to the economic disruption caused by COVID-19. New Hampshire small businesses are required to provide information concerning their possible COVID-19-related lost revenues and receipt of Paycheck Protection Program (PPP) loans or any other federal relief. This information will be used to determine appropriate relief criteria and amounts to meet the needs of eligible small businesses.Eligibility:- principal place of business in New Hampshire
- generated less than $20 million in revenue during the 2019 tax year
- healthcare, childcare, and agriculture businesses are not eligible; those businesses are or will be addressed through other programs.
Important Dates & Timeline- Mandatory Deadline to Submit Completed Prequalification Form: May 29, 2020
- Announcement of Program Specifics: June 1, 2020
- Deadline to File Completed Application: June 8, 2020
The prequalification form must be submitted online.
Submitting the required information does not guarantee that your business will receive relief. The final eligibility criteria will not be determined until all prequalifying information is received, after May 29, 2020. Governor’s Office for Emergency Relief and Recovery (GOFERR) will review all information received and quickly determine relief criteria and amounts that effectively meet the needs of as many New Hampshire small businesses as possible. The specifics of this funding opportunity will be announced on June 1, 2020, and any eligible businesses will need to submit a formal application within one week, by June 8, 2020. More information about filing the application will be made available at a later date. The DRA will begin processing relief payments shortly after the filing period closes. -
Billions in PPP Funding Still Available
The U.S. Small Business Administration released an updated Paycheck Protection Program Report with data through May 16 from the second round of PPP funding provided in the Paycheck Protection Program and Health Care Enhancement Act. The latest data available shows that more than $135 billion in PPP funds still available for small businesses and non-profits impacted by the COVID-19 pandemic and is available to businesses of all sizes.
Learn more about the program and apply at www.sba.gov/ppp
Forgiveness Application Available
The SBA and Treasury have released the PPP Forgiveness Application. Click here to view the application and instructions.
Contact our office if you need a lender referral.
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NH SBA Webinars
Grab your coffee and join the NH SBA for the daily update on PPP, EIDL, Bridge loans,small business options, and PPP forgiveness once the guidance is issued.NH SBA offers a webinar on relief programs available every morning at 9 am. -
SBDC: Helping both employers and sole proprietors understand the relief programs and best practices to help you operate your business in response to COVID-19.
All SBDC webinars are at 10 a.m. or 1 p.m. and are free. Register HERE.May 26 & 29, 10-11 a.m. About the PPP Forgiveness Application: Important Concepts & Recent UpdatesJoin us in discussing the PPP forgiveness application. We'll review the application and several important changes on how to calculate forgiveness. We'll also discuss the documents you should be tracking and collecting now as we wait for SBA and Treasury's final guidance on PPP forgiveness.Leone, McDonnell & Robert, P.A. to present a zoom webinar on the New Hampshire Main Street Relief Fund
Tuesday, May 26 from 3-4 p.m.
Recently, New Hampshire Governor Chris Sununu announced the allocation and expenditure of $400 million in emergency funding from the CARES Act designed to provide financial relief to New Hampshire small for-profit businesses because of the pandemic. To be eligible, a business must have generated less than $20 million in revenue during 2019. Healthcare, childcare, and agriculture business are not eligible as they are addressed in other programs.
Mandatory pre-qualification due date: May 29, 2020
Join us on Zoom for an “Ask Us Anything” presentation about the Main Street Relief Fund. Space is limited to 100.
https://us02web.zoom.us/j/87513731640?pwd=Z3NvZ1pBTFd3dTVyNmRTU2F4aDVodz09
Meeting ID: 875 1373 1640, Password: 574732
Marketing for a Successful Re-openingIn case you missed our recent webinar, here is a link to the video and a link to the presentation slides. Thank you to Christine Sieks of Townsquare Media and Warren Daniel of the NH Small Business Development Center for presenting! -