NH Receives Statewide Declaration Opening Disaster Assistance Application Process for all Businesses

NH Receives Statewide Declaration Opening Disaster Assistance Application Process for all Businesses

The U.S. Small Business Administration is now offering low-interest federal disaster loans for working capital to the entire state of New Hampshire for small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).  Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue.

Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. 

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.You risk nothing by applying and are not obligated to take the loan if approved, but in the instance that you do need these funds applying could be the difference between keeping your small business afloat or closing the doors.

Apply for a EIDL Loan

The SBA encourages every business or nonprofit affected to apply online (visit here to confirm eligibility). Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email  for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. The deadline to apply for an Economic Injury Disaster Loan is Dec. 17, 2020.

Note:   Once you register and start the online application process, you will be prompted to select your business type and then select the loan type that you are applying for.   Please be sure to select the right business type because there are 2 different loan applications AND you must select ‘Economic Injury (EIDL)’ to be able to select the Coronavirus Disaster Declaration.

U.S. SMALL BUSINESS ADMINISTRATION
FACT SHEET – ECONOMIC INJURY DISASTER LOANS

Impacted Government Contractors

If a situation occurs that will prevent small businesses with federal government contracts from successfully performing, they should reach out to their contracting officer and seek extensions before they receive cure notices or threats of termination. Read more here

NH Businesses are encouraged to reach out to the NH Procurement Technical Assistance Center (PTAC) for no-cost technical assistance for all government contracting needs.   You can reach them at or call 603-271-7581.

Additional Resources

We will continue to share additional resources as they become available.  This is by no means an all-inclusive list, but we hope it gives you a good starting point to get the help you need to deal with the crisis at hand.

For information on all federal programs, visit www.usa.gov/coronavirus or https://www.usa.gov/espanol/coronavirus (en Español).

The IRS has established a web page to help taxpayers, businesses and others affected by the coronavirus.

The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including use of Family Medical Leave

New guidance outlines flexibilities that states have in administering their unemployment insurance programs to help Americans affected by coronavirus.

Info from SBA Partners 

SBA Resource Partners are ready to help with no-cost, one-on-one business counseling regarding COVID-19. Free assistance with reconstructing financial records, preparing financial statements and submitting the loan application is available from any of SBA’s partners:

During these challenging time our partners are conducting advising sessions virtually via zoom and phone. Make sure you check out all virtual workshops that are taking place of in-person workshops. Reach out and let us know how we can assist you!

Small Business Development Centers -    NH SBDC
Center for Women and Enterprise -    CWE
Veteran’s Business Outreach Centers or -SCORE

NH Specific Information

State of NH info for businesses

If you have lost work due to COVID-19, you may be eligible for unemployment relief, even if you are self-employed. Find out if you are eligible Here.

STAY UPDATED

If this newsletter was forwarded to you, sign up now to make sure you get  additional information as it becomes available via sba.gov/updates.

We will also be posting information on Twitter (@SBA_NH) as it becomes available. Join us there.

Information for small businesses facing mass/seasonal layoffs:

For employer questions about mass layoff/seasonal layoff and to notify NHES of an event
Information on Reporting Mass Layoff and/or Seasonal Layoff

Mass Layoff/Seasonal Layoff

Fact Sheet

masslayoff@nhes.nh.gov

To report a mass layoff/seasonal layoff, complete spreadsheet and FAX to the number provided (Spreadsheet must be faxed. DO NOT send as e-mail attachment):

Employer Shutdown Information

Fax: (603) 447-3951

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