Agency’s Economic Relief Programs & The Top 20 Webinars of 2020

New Hampshire District Office - January 8, 2021

u s small business administration

SBA and Treasury Announce PPP Re-Opening January 11- with New Guidance

WASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.  The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

“The historically successful Paycheck Protection Program served as an economic lifeline to millions of small businesses and their employees when they needed it most,” said Administrator Jovita Carranza.  “Today’s guidance builds on the success of the program and adapts to the changing needs of small business owners by providing targeted relief and a simpler forgiveness process to ensure their path to recovery.”

“The Paycheck Protection Program has successfully provided 5.2 million loans worth $525 billion to America’s small businesses, supporting more than 51 million jobs,” said Treasury Secretary Steven T. Mnuchin.  “This updated guidance enhances the PPP’s targeted relief to small businesses most impacted by COVID-19.  We are committed to implementing this round of PPP quickly to continue supporting American small businesses and their workers.”

Key PPP updates include:

  • PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
  • The PPP provides greater flexibility for seasonal employees;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan. 

A borrower is generally eligible for a Second Draw PPP Loan if the borrower:

  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

The new guidance released includes:

For more information on SBA’s assistance to small businesses, visit sba.gov/ppp or treasury.gov/cares


Updates on the Agency’s Economic Relief Programs from our Office and Resource Partners


PPP Coronavirus Loans Icon

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Virtual Information Sessions

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Center for Women and Enterprise (CWE)

Monday, January 25 - 12-2pm Funding & Resources for Small Business During COVID-19 Crisis

NH Small Business Development Center (NH SBDC)

Updates on PPP and COVID Relief Programs

Friday, January 8 - 1pm 

Tuesday, January 12 - 10am 

Thursday, January 14 - 1pm 

SCORE

Thursday, January 14th - The Paycheck Protection Program Latest Revisions

SBA 

Wednesdays, January 13th, 20th and 27th - 9am SBA Webinar Wednesday 

 


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* REMINDER * for Online Gov't Contracting Courses

On-Line Government Contracting Courses for 7(j) Eligible Firms

Eligible 7(j) participants are invited to a free training series to learn critical cybersecurity concepts, approaches to protecting their resources and intellectual property, and mandatory federal contracting requirements for both prime and sub-tier subcontractors.

How it works
Just like a class you’d attend in person, courses are taught by a live instructor on a scheduled day and time. Students receive course materials in advance, participate in real time using a broadband connection and interact directly with the instructor and their peers

From your computer, you’ll link to an instructor in a live, realtime, interactive learning experience. You’ll become part of a virtual classroom where you can ask questions, seek guidance and participate in class discussions and interactive exercises.

Training like this is normally a huge investment for a firm but if you qualify, you can take it at no charge.

January 7
Federal Acquisition Regulation (FAR) Primer: 1:00—5:00 pm EST

January 11
Federal Contracting Basics:  2:00—4:00 pm EST

January 12
Understanding the Request for Proposal (RFPs): 1:00—3:30 pm EST

January 13
Developing the Technical & Past Performance Proposals: 1:00—4:00 pm EST

January 14
Developing the Cost Proposal:1:00—4:00pm EST

January 19
Tools for Construction Project Management: 5:00—8:00 pm EST

January 20
Negotiating Government Contracts: 1:00—5:00 pm EST

January 21
Government Contract Types: 1:00—3:00 pm EST

January 25
Audits & Accounting Systems: 1:00—4:00 pm EST

January 26
How to Qualify for the GSA Schedule: 1:00—3:00 pm EST

January 27
Managing & Administrating Government Contracts: 1:00—4:00 pm EST

Strategic Planning for Small Business: 1:00—2:30 pm EST

To register for any of the courses listed above click here 


webinar: resources for small businesses or small business

TOP 10 WEBINARS OF 2020 - Recorded by SCORE

MARKETING

Selling Through Social - Develop Your Strategy for the New Year

The 5 Step Marketing Strategy During a Pandemic

ONLINE BUSINESS

Starting an Online Business for Next to No Money

Google Analytics 101-Improve Your Online Business by Understanding Essential Data

STRATEGY & PLANNING

Business SWOT Analysis Fundamentals-An Easy Way to Ensure Your Business Succeeds

7 Steps to Starting a Business on a Shoestring Budget

VIRTUAL BUSINESS OPERATIONS

10 Principles to Running a Virtual Company Extremely Well

How to Run Great Virtual Events

FINANCE & ACCOUNTING

Understanding Cash Flow - A Critical Component to the Life of Your Business

2020 Year-End Tax Planning for Your Business


Save the DATE !!

Boots to Business, Veterans

Boots to Business

Two-Day Entrepreneurial Training

for Veterans and Spouses

FREE Virtual Workshop

When: February 24th and 25th 2021

            8:30 am – 4:00 pm

Register for the training here

When you get to this link, go to the calendar and select:

Online Portsmouth, NS, ME


January Events & Happenings

Download a PDF Here


Happy New Year

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Ways to Connect with SBA New Hampshire:

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

Phone: 603-225-1400