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New Hampshire District Office - July 17,  2020

u s small business administration

We're Here for You Every Wednesday Morning at 9 for our Weekly Update


The SBA has programs and services that help small business owners start, grow, expand and recover.   Join us to get the latest updates on disaster relief and recovery and learn how to access technical and financial resources that can assist you in all phases of business ownership.  We will also highlight any training opportunities that will be coming up from our office and our resource partners.

Every Wednesday at 9am

To join the webinar:

Join Microsoft Teams Meeting

+1 202-765-1264 United States, Washington DC (Toll)

Conference ID: 120 391 006#


EIDL Advance Wraps Up After Providing $20B - Economic Injury Loans Still Available

EIDL Graphic

Having allocated the full $20 billion that was appropriated by Congress, SBA will discontinue making EIDL Advances to new applicants.  By law, the SBA is not permitted to issue new EIDL Advances once all program funding has been obligated. 

EIDL loan applications will still be processed even though the Advance is no longer available.   As a reminder, the loan portion of the EIDL program continues to have funds available at very affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin.  Every eligible small business and non-profit is encouraged to apply to get the resources they need.  >>Read more


Haven't Applied Yet for the Paycheck Protection Program? There is Still Time

The Paycheck Protection Program (PPP) resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to President signing the program's extension legislation. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. 

PPP provides small businesses with funds for payroll costs and other eligible non- payroll costs.With the new changes in the PPP Flexibility Act, you need to look at this program if you haven't already applied!  ACT Today!

More than $100 Billion in PPP funds are still available. The recent passage of the Paycheck Protection Flexibility Act allows small businesses to use funds up to 24-weeks and have the option of extending the life of the loan from two years to five. SBA will forgive loans if funds are used as intended.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

For more information, visit here.

List of Participating Lenders

 


There Are Lots of Online Learning Opportunities This Summer


WOSB Federal Contracting Program has changed as of July 15th

Are you WOSB ready? If you are seeking WOSB/EDWOSB certification for the first time, the process is changing as of July 15th, 2020. The program will no longer accept self-certification after this date. Instead, WOSB owners must apply for certification through beta.certify.sba.gov or be certified through an approved third-party entity (at a cost).

The Women-Owned Small Business Federal Contracting Program (WOSB Federal
Contracting Program) was created to help provide a level playing field for women
business owners. When buying goods and services, the federal government limits
competition for certain contracts to women-owned small businesses (WOSBs)
and economically disadvantaged women-owned small businesses (EDWOSBs)
that participate in the U.S. Small Business Administration’s (SBA) WOSB Federal
Contracting Program. Becoming certified for the WOSB Federal Contracting
Program means your business is eligible to compete for WOSB Federal Contracting
Program set-aside contracts within eligible industries. These contracts are in
industries where women-owned small businesses are underrepresented.

If you are already a self-certified WOSB/EDWOSB or were certified through a third-party you must download your documentation currently housed in the WOSB Program Repository at certify.sba.gov by JULY 15th. 

For more information, check out this FAQ from the U.S. Small Business Administration.


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Ways to Connect with SBA New Hampshire:


Websitewww.sba.gov/nh
EmailNewHampshire_DO@sba.gov
Twitter: @SBA_NH