Important EIDL Policy Changes – NSBW and more….

New Hampshire District Office - September 10, 2021

u s small business administration

Join the Nation in Celebrating Small Businesses - Register for NSBW Today!!!

National Small Business Week is next week Monday, Sept. 13th - Wednesday, Sept.15th! The SBA announced the event schedule. There is still time to register to learn new business strategies, meet other business owners, and chat with industry experts. This free online event will include educational webinars, updates on resources for small businesses, and a networking chat room for business owners and aspiring entrepreneurs.

Register Here

Illustration of a main street & the following text, National Small Business Week, September 13-15, 2021, celebrating resilience & renewal

Celebrating Resilience and Renewal

Amy K. Bassett

District Director

New Hampshire District Office 

Did you know that the U.S. Small Business Administration has celebrated National Small Business Week (NSBW) for more than 50 years?  Each year during NSBW, SBA recognizes the critical contributions of America’s entrepreneurs and small business owners.

Last year amid the COVID-19 pandemic we made a shift toward an entirely virtual celebration and here we are again.  We continue to face unique and unexpected challenges together.  Through these challenges, American small businesses continue to play a central role in building a strong country, prepared for any obstacles in the future.

More than half of Americans either own or work for a small business, and they create nearly two out of every three new jobs in the U.S. each year. During NSBW, the SBA takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and others who support entrepreneurship from all 50 states, Washington, D.C., and U.S. territories.  Every day, they are working to grow small businesses, create 21st-century jobs, drive innovation, and increase America’s global competitiveness.

On September 13-15, the SBA will host the National Small Business Week Virtual Summit to spotlight America’s entrepreneurs and the renewal of the small business economy as they build back better from the economic crisis brought on by the pandemic.

The virtual summit will honor the nation’s 32.5 million small businesses for their perseverance, ingenuity, triumphs, and creativity.  I’m thrilled that during the virtual summit this year, SBA will feature New England based entrepreneurs Annette Lee and Nicole Carrier of Throwback Brewery in North Hampton, New Hampshire. 

Brewing beer and farming are industries with a long-storied past in New England.  Throwback Brewery combines these two traditions in their brewery and restaurant they operate on a working farm. During NSBW, you’ll get to hear more about them, how they built their business, the challenges they have faced over the course of the pandemic and what they’ve done to face these challenges and keep moving forward. 

The pandemic affected Nicole and Annette’s business dramatically. When Covid first hit, they transitioned to 100% takeout pivoting from the normal 5% while implementing an online ordering system. As all restaurants transitioned and were allowed to open outside, Throwback moved to a table service model with a hostess and an online reservation system.

I’m proud that SBA has had the opportunity to assist Nicole and Annette over the years, first to expand with a 504 loan back in 2015 for the purchase of their 12-acre farm and now to help with their economic recovery.

Annette and Nicole are two entrepreneurs that have demonstrated their perseverance, resiliency, and creativity as they’ve weathered the storm of the COVID-19 pandemic. They made full use of SBA’s recovery programs including the Paycheck Protection Program and the Restaurant Revitalization Program. With hard work and determination, Annette and Nicole are in a great position to build back better.

Please join me in celebrating Annette and Nicole’s achievements and the resiliency of all our nation’s small businesses by attending the National Small Business Week Virtual summit.  Register Here

While it is my hope that next year will bring us normalcy and the ability to gather to celebrate the resilience of the small business community, either way the SBA is here to help you at any stage of your business journey. 


EIDL

COVID-19 EIDL Policy Changes

SBA Administrator Guzman Enhances COVID Economic Injury Disaster Loan Program to Aid Small Businesses Facing Challenges from Delta Variant

Increased Loan Cap to $2 Million, Expanded Use of Funds to Pay and Prepay Business Debt, Streamlined Review Processes, and Deferred Payments; First Approval and Disbursement of Loans of $500,000 or Less Also Introduced.

Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms, and hotels. The SBA is ready to receive new applications immediately from small businesses looking to take advantage of these new policy changes.

“The SBA’s COVID Economic Injury Disaster Loan program offers a lifeline to millions of small businesses who are still being impacted by the pandemic,” SBA Administrator Isabella Casillas Guzman said. “We’ve retooled this critical program – increasing the borrowing limit to $2 million, offering 24 months of deferment, and expanding flexibility to allow borrowers to pay down higher-interest business debt. We have also ramped up our outreach efforts to ensure we’re connecting with our smallest businesses as well as those from low-income communities who may also be eligible for the companion COVID EIDL Targeted Advance and Supplemental Advance grants totaling up to $15,000.  Our mission-driven SBA team has been working around the clock to make the loan review process as user-friendly as possible to ensure every entrepreneur who needs help can get the capital they need to reopen, recover and rebuild.”

See entire Press Release for the key changes to the program.

 


SAVE the Date!!


SPETEMBER 21  9-10am

U.S. Small Business Administration (SBA) Resources

for NH Artists and Creative Businesses

In this hour-long presentation, Amy K. Bassett, NH District Director of the SBA will lead a lively discussion with SBA’s resource partners about programs and funding opportunities that are relevant to the New Hampshire arts sector.  These programs support the resilience and growth of the arts and creative economy.

Register for the webinar using this link.  


What Others are Doing to help #SmallBiz

Relief Program for New Hampshire #Smallbiz and Non-Profits

Today, the Governor’s Office for Emergency Relief and Recovery (GOFERR) launched the COVID-19 Expenses Relief Program to assist New Hampshire for-profit Main Street businesses with COVID-19 related business expenses in 2020 and 2021. Eligible businesses can apply for reimbursement of a portion of their eligible expenses until 4 PM on October 1, 2021, via the GOFERR portal. Awards will be issued following the application deadline, on a capped, pro-rata basis dependent upon total eligible expenses.

COVID-19 Expenses Relief Program | Governor's Office for Emergency Relief and Recovery (nh.gov)


Grant Opportunity for Cheshire County #Smallbiz and Non-Profits

Pandemic Emergency Relief Fund Applications

Cheshire County to provide funding through PERF

Pandemic Emergency Relief Fund (PERF) utilizes ARPA Local Fiscal Recovery Funds to provide $1,000,000 in grant funding to Cheshire County small businesses and nonprofits that experienced negative economic impacts due to COVID-19. Grant award amounts will range between $1,000 and $20,000.

For More Information 

A potential opportunity for Cheshire County based businesses and non-profits only.


USDA to Help Coos County

The United States Department of Agriculture has designated Coos County as a primary natural disaster area because of this year's drought. According to the latest drought map most of Coos County is still in moderate drought, while a small section is in severe drought.

Information about getting emergency farm loans

The designation allows impacted producers in Coos County to get emergency loans.


Sullivan County - Twin State Innovations for Entrepreneurs, Innovators and Community

Twin State Innovation is a monthly event where entrepreneurs can connect with each other and their community, share their stories, and crowdsource solutions to the challenges they face. Join this FREE event 

Held the second Tuesday of every month 8am-9am Via Zoom.us

Webinar ID: 878 1479 0299  Passcode: 241464


Radically Rural in Keene

SEPTEMBER 22-23
IN-PERSON IN KEENE & VIRTUAL

INFO & TICKETS 

 

Pitchfork Competition

Join the excitement as local rural entrepreneurs pitch their business.  This is not just another pitch competition, but a great way to jumpstart ideas, connections, and small businesses. This session opens with a live pitch event and ends with a discussion with its organizers on how to do this in your community.  The pitch portion represents the final round after a summer of coaching and two previous rounds of eliminations.  In the second part of the session, attendees will leave with a highly detailed “operating manual” about how you can run a pitch event in your community. The announcement of the winner and the presentation of a cash award of $10,000 will happen at the evening’s CONNECT event.

This year Hannah Grimes is partnering with NHSBDC to provide the pitch clinic and pitch coaching for each participant.


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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