Help and Resources for
Small Businesses
We know many of you are facing a very stressful situation during the Covid-19 pandemic and are trying to figure out the best way to get your company through these challenging times. We want to help you gather the information that will help you decide what course you should take over the coming weeks and months.
Paycheck Protection Program
While REDC is not eligible to offer the Paycheck Protection Program, participating lenders—not the Small Business Administration itself—will make Paycheck Protection Program loans of up to 2.5 × your average monthly payroll costs at an interest rate of 1%.
Reach out to your organization’s bank to find out if they are a participating lender. If they’re not, the NH District Office of the Small Business Administration has a list of lenders available on their website.
Here is a link to their website:
Shuttered Venue Operators Grant
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Here is a link to their website:
Economic Injury Disaster Loan (EIDL)
This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
Small business owners and qualified agricultural businesses in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19. Agricultural businesses with 500 or fewer employees are now eligible as a result of new authority granted by Congress in response to the pandemic.
Here is a link to their website:
NH’s Reopening Guidance
All businesses deemed ‘essential’ under Emergency Order 52 , as well as those industries provided new guidance to re-open, or partially re-open, under Stay at Home 2.0, must adhere to Universal Guidelines outlined here. In most cases, businesses must also adhere to additional industry guidelines.
Here is a link to this information:
Other Resources
NH Tech Alliance Website - Going Remote 101
The legal firm of McLane Middleton will be updating their site regularly with legal analysis, and state and federal information as it pertains to businesses navigating in these uncertain and unprecedented times.