Calling all #SmallBiz

New Hampshire District Office - February 12, 2021

u s small business administration

NH SBDC Presents: COVID TAX RELIEF Webinar

Covid Tax Relief NH SBDC

If you have five or more employees, have you considered using the Employee Retention Tax Credit?

That’s just one opportunity to learn about during this webinar on lesser known changes to tax law for COVID-19 relief that may have a significant impact on your business.

Know the right questions to ask your accountant – be proactive now!

NH SBDC presents an opportunity to learn about changes to tax law for COVID-19 relief that may have a significant impact on your business.

February 16th 

12:00 PM to 1:00 PM

Register Here

 


SBA and lenders take more steps to improve Paycheck Protection Program

Loan data shows 1.3 million loans and significant increase

to underserved entrepreneurs

Today, the U.S. Small Business Administration and lenders are taking more strides to improve the Paycheck Protection Program (PPP) so that small businesses can access much needed PPP funds to persevere through the pandemic, recover, and build back better.  The Administration is working with the Agency to increase equitable access to underserved small businesses, to assure the integrity of the program, and to promote rapid and efficient distribution of funds.

This week, the SBA hit a major milestone of approving $104 billion of PPP funds to more than 1.3 million small businesses. Highlights from this round include:

  • Reaching more of the smallest businesses; 82% of all loans going to businesses requesting less than $100,000
  • Reaching rural communities in a meaningful way; 28% of businesses who have received funding this round are in rural communities
  • Increasing partnerships with Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) who are trusted agents in extending economic relief to minority communities and underserved populations

The SBA is also following through on its commitment to take additional steps towards improving the speed to resolve data mismatches and eligibility concerns so that small businesses have as much time as possible to access much needed PPP funds, while maintaining the integrity of the program. Three important changes will:

  1. Enable lenders to directly certify eligibility of borrowers for First Draw and Second Draw PPP loan applications with validation errors to ensure businesses who need funds and are eligible receive them as quickly as possible
  2. Allow lenders to upload supporting documentation of borrowers with validation errors during the forgiveness process
  3. Create additional communication channels with lenders to assure we are constantly improving equity, speed, and integrity of the program, including an immediate national lender call to brief them on the Platform’s added capabilities     

"We are pleased that the Paycheck Protection Program is targeting the smallest of small businesses and providing economic relief at a crucial time in American history. The SBA has achieved another major milestone to provide critical recovery capital to America’s small businesses by approving 1.3 million PPP loans totaling $104 billion in the current round. While we are excited that we are doing a better job of reaching the hardest hit industries and communities, we are committed to taking additional steps to ensure that there is equitable access for underserved businesses and that we are leading with empathy to support small businesses in a difficult spot," says SBA Senior Advisor to the Administrator Michael Roth.

Through SBA's 68 district offices, the Agency will work in close partnership with the Biden-Harris Administration to further leverage its resource partner network and expand on multilingual access and outreach about the PPP. Updated PPP information, including forms, guidance, and resources can be found at www.sba.gov/ppp and www.treasury.gov/cares.


SAVE The DATE

Black History Month

Celebrate Black History Month


TUESDAY TALKS on February 23rd - 10am

Chatting with NAACP and minority owned small businesses as we celebrate Black History Month

Join Lender Relations Specialist Tuesday Belanger as she discusses the importance of Black History Month and introduces you to some very special guests. 

  • Meet Manchester, NH NAACP President.
  • Receive information about minority businesses around the State of NH.
  • Hear from a few small businesses and their experiences.
  • Learn more about Black History Month.

Sign up today


Join the DOL- Wage and Hour

FREE Virtual overview of the Fair Labor Standards Act

 

When: February 23, 2021

10:30am - 12:00pm

Did you know that almost every employee in the U.S. is covered by the Federal Fair Labor Standards Act (FLSA or Act)? As an employer, are you aware of and meeting your obligations under the Act?

Come join the U.S. Small Business Administration and the U.S. Department of Labor, Wage & Hour Division, for FREE Virtual comprehensive overview of the FLSA’s major provisions, as well as practical tips and available resources for ensuring compliance.

Sign up today 


Virtual Boots to Business

When: February 24th and 25th, 8:30am-4:00pm

RegisterHERE and select "Online Portsmouth, NS, ME"

Any questions please contact Miguel Moralez at miguel.moralez@sba.gov or (603) 225-1601.


What others are doing to Help #Smallbiz

CDFA COVID Grant for #SmallBiz

The Hannah Grimes Center for Entrepreneurship is offering $2,500 one-time grants for up to

50 small businesses.

Hannah Grimes’ Small Business COVID Grant Program* helps provide hope, resiliency, and an injection of much-needed capital for our small businesses and our community during these unprecedented times.

Allowable Uses of Grant Funds Qualifying businesses may use the Small Business COVID Grant funds for an expense or a need that has developed as a result of the pandemic.

Funds will be used in covering costs “to prepare to, respond to, or recover from the COVID-19 pandemic,” including:

·         Working Capital

·         Equipment Purchases

·         Operating Expenses

·         Minor Construction/Modification (total cost <$1,999)

Learn More

Grant Eligibility Federal grant guidelines require that businesses be eligible based on the household income of the business owner(s). Eligibility is quite broad and is based on the size of your household, so don’t assume that you do not qualify!

Act Now! Grants Will be Awarded on a First-Come-First-Served Basis Grant applications will be reviewed and funding awarded on a rolling basis, as they are submitted to Hannah Grimes. When 50 businesses have been approved for the $2,500 Small Business COVID Grant, the program will end.


Join us for our SBA Wednesday Weekly Webinar

Join Microsoft Teams Here

January News Letter

Take a look at our January Newsletter. Featuring our #DYK (Did you Know), ICYMI (In Case You Missed It), Employer spotlight and much more.

Here


Join our Mailing List for all the upcoming Updates and Activities Happenings Here 

Download a PDF copy of the February Calendar of Events 

Here


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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