Main Street Relief Fund
The Governor has authorized the allocation and expenditure of an initial $400 million in emergency funding from the CARES Act Coronavirus Relief Fund to provide emergency financial relief to New Hampshire small for-profit businesses due to the economic disruption caused by COVID-19. We encourage everyone to apply immediately as this will go quickly with all the industries that will apply.
Submit Your Prequalification Here
Important Dates & Timeline
Submit Your Prequalification Here
Important Dates & Timeline
- Mandatory Prequalification Period
May 15, 2020 – May 29, 2020 - Deadline to Submit Completed Prequalification Form
May 29, 2020 - Announcement of Program Specifics
June 1, 2020 - Formal Application Period
June 1, 2020 – June 8, 2020 - Deadline to File Completed Application
June 8, 2020
U.S. SBA Disaster Economic Injury Loan
New Hampshire is one of the earliest states approved by the Small Business Administration (SBA) for Economic Impact Disaster Declaration. Businesses affected by the COVID-19 outbreak can now apply for economic impact relief. We are encouraging all affected businesses to submit an application.
To begin a new application:
For more information and to apply, please visit the SBA website , email disastercustomerservice@sba.gov or call the SBA toll-free line at 1-800-659-2955 if you have any questions. You can also join webinars at 9:00 am and 2:00 pm daily, via Skype, to give an overview of the program and to answer any questions. You can join the Skype meeting here or call in at Toll number: +1 (202) 765-1264, 522409519# (Dial-in Number), using the conference ID: 522409519.
To begin a new application:
- Start the process here: https://covid19relief.sba.gov/#/.
- You will be asked to fill in some basic information about your business and the business owners.
- On the last screen, if you opt in to the $10,000 request for emergency funds, you will need to supply your bank account and routing number.
- You will see a summary of all your information that you can review prior to submitting your application.
- You will not be asked to upload any documentation at submittal; however, you may be asked for supporting information at a later date.
For more information and to apply, please visit the SBA website , email disastercustomerservice@sba.gov or call the SBA toll-free line at 1-800-659-2955 if you have any questions. You can also join webinars at 9:00 am and 2:00 pm daily, via Skype, to give an overview of the program and to answer any questions. You can join the Skype meeting here or call in at Toll number: +1 (202) 765-1264, 522409519# (Dial-in Number), using the conference ID: 522409519.
Department of Revenue
The NH Department of Revenue has offered relief for business, interest, and dividend taxes. Relief allows 98% of taxpayers to file and pay for tax year 2019 by June 15th without penalties or interest. Safe harbors have been created to ease complications associated with federal tax day extension. You can see the full press release from the NH Department of Revenue here.
In regards to the Meals and Rentals Tax, if an M&R Operator elects not to file and pay on May 15th, there are three assessments that will be made immediately:
1. The assessment of the penalty for the failure to file their return (RSA 21-J:31 – 5% of the tax due or $10, whichever is greater and capped at 25% of the tax due).
2. The assessment of the penalty for the failure to pay the tax (RSA 21-J:33 – 10% of the amount of the underpayment).
3. The assessment of interest, calculated daily (RSA 21-J:28, current rate is 7%).
Operators should absolutely still file, even if they can’t pay, in order to avoid the 5% failure to file penalty. Operators must still file even if they have no activity to report due to being shut down. Relative to the failure to pay penalty and interest, both are measured by the underlying amount owed, so if an Operator can pay some amount, they should do so to minimize the amount assessed and should also pay in full as soon as possible to minimize continued accrual.
Operators who cannot pay the Meals & Rentals Tax, can apply for a payment plan directly through Granite Tax Connect.
In regards to the Meals and Rentals Tax, if an M&R Operator elects not to file and pay on May 15th, there are three assessments that will be made immediately:
1. The assessment of the penalty for the failure to file their return (RSA 21-J:31 – 5% of the tax due or $10, whichever is greater and capped at 25% of the tax due).
2. The assessment of the penalty for the failure to pay the tax (RSA 21-J:33 – 10% of the amount of the underpayment).
3. The assessment of interest, calculated daily (RSA 21-J:28, current rate is 7%).
Operators should absolutely still file, even if they can’t pay, in order to avoid the 5% failure to file penalty. Operators must still file even if they have no activity to report due to being shut down. Relative to the failure to pay penalty and interest, both are measured by the underlying amount owed, so if an Operator can pay some amount, they should do so to minimize the amount assessed and should also pay in full as soon as possible to minimize continued accrual.
Operators who cannot pay the Meals & Rentals Tax, can apply for a payment plan directly through Granite Tax Connect.
Additional Financial Assistance
NH Business Finance Authority (BFA)-CAP Program
The Capital Access Program (CAP) is a simple and flexible credit enhancement for small businesses utilized by New Hampshire banks. The CAP program provides support on term loans and lines of credit up to $200,000.00. The program can be used for temporary loans, working capital, equipment purchases, and many long term uses. More information can be found here: https://nhbfa.com/loans/cap/
BFA Temporary Loans
Direct loans from the NH Business Finance Authority for any business purpose with a maximum of $200,000.00 and a maximum loan term of three years. Loans have flexible amortization schedules and are contingent on satisfactory underwriting. Loans require approval by the NH Executive Council. More information can be found here: https://nhbfa.com/contact-us/
The Capital Access Program (CAP) is a simple and flexible credit enhancement for small businesses utilized by New Hampshire banks. The CAP program provides support on term loans and lines of credit up to $200,000.00. The program can be used for temporary loans, working capital, equipment purchases, and many long term uses. More information can be found here: https://nhbfa.com/loans/cap/
BFA Temporary Loans
Direct loans from the NH Business Finance Authority for any business purpose with a maximum of $200,000.00 and a maximum loan term of three years. Loans have flexible amortization schedules and are contingent on satisfactory underwriting. Loans require approval by the NH Executive Council. More information can be found here: https://nhbfa.com/contact-us/
Private Businesses Offering Assistance
New Hampshire Hospitality Compensation Trust (NHHCT)
In response to the Governor’s decision to close restaurants for three weeks, NHHCT is suspending payment of contributions for one month. We will monitor further developments and make further adjustments accordingly. Your workers’ compensation coverage will continue, and you may want to adjust your payroll estimates for the remainder of the year to reduce costs.
Eversource
In addition to postponing customer disconnections for non-payment and assisting customers with financial programs to help pay their bill, Eversource is also providing extended payment arrangements for small business customers. In normal operations, small business customers get up to three months for bill payment arrangements. To support small business customers through the COVID-19 crisis, Eversource is offering a $0 down payment and a 12-month payment arrangement, with the first payment not due until June 1st. The full letter to business leaders from Eversource can be found here.
Coca-Cola
Coca-Cola has created the Coca-Cola Rapid Response Resource to offer free resources and assistance to restaurants during the crisis. The site includes tips for optimizing takeout and drive-thru operations, the latest on COVID-19 safety guidelines for restaurants, information about third-party restaurant delivery services and more. In a letter written by Kathleen Ciaramello, President of Foodservice & On-Premise for Coca-Cola North America, she shares her gratitude and respect for the foodservice industry and outlines the various steps Coca-Cola is taking to aid you during this time. You can find the full letter here.
In response to the Governor’s decision to close restaurants for three weeks, NHHCT is suspending payment of contributions for one month. We will monitor further developments and make further adjustments accordingly. Your workers’ compensation coverage will continue, and you may want to adjust your payroll estimates for the remainder of the year to reduce costs.
Eversource
In addition to postponing customer disconnections for non-payment and assisting customers with financial programs to help pay their bill, Eversource is also providing extended payment arrangements for small business customers. In normal operations, small business customers get up to three months for bill payment arrangements. To support small business customers through the COVID-19 crisis, Eversource is offering a $0 down payment and a 12-month payment arrangement, with the first payment not due until June 1st. The full letter to business leaders from Eversource can be found here.
Coca-Cola
Coca-Cola has created the Coca-Cola Rapid Response Resource to offer free resources and assistance to restaurants during the crisis. The site includes tips for optimizing takeout and drive-thru operations, the latest on COVID-19 safety guidelines for restaurants, information about third-party restaurant delivery services and more. In a letter written by Kathleen Ciaramello, President of Foodservice & On-Premise for Coca-Cola North America, she shares her gratitude and respect for the foodservice industry and outlines the various steps Coca-Cola is taking to aid you during this time. You can find the full letter here.
Employee Relief Funding
he New Hampshire Hospitality Employee Relief Fund (NHHERF) was built by the New Hampshire Lodging & Restaurant Association (NHLRA) and the New Hampshire Lodging & Restaurant Association Education Foundation to support employees of the hospitality industry who have been impacted by COVID-19. Please visit nhherf.org for eligibility requirements and to apply.
Through the Restaurant Employee Relief Fund, the National Restaurant Association Educational Foundation will provide grants to restaurant industry employees who have been adversely impacted by COVID-19, financially, whether through a decrease in wages or loss of employment. Please visit Apply for Aid for eligibility requirements and to apply. They are not currently accepting new applications at this time, but may reopen applications as funding becomes available.
The Greg Hill Foundation and Samuel Adams have teamed up to support those from the restaurant industry across the country who have been impacted by the COVID-19 closures. Samuel Adams and The Greg Hill Foundation are bringing the successful Restaurant Strong Fund to 20 total states to aid the restaurant workers impacted by the Covid-19 closures. Following the success of the Massachusetts launch in mid-March, Samuel Adams is donating over $2,000,000 to kickstart funding in Arizona, California, Connecticut, Florida, Georgia, Illinois, Massachusetts, Maine, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas and Vermont. Please visit the Restaurant Strong Fund to apply. They are not currently accepting new applications at this time, but may reopen applications as funding becomes available.
Through the Restaurant Employee Relief Fund, the National Restaurant Association Educational Foundation will provide grants to restaurant industry employees who have been adversely impacted by COVID-19, financially, whether through a decrease in wages or loss of employment. Please visit Apply for Aid for eligibility requirements and to apply. They are not currently accepting new applications at this time, but may reopen applications as funding becomes available.
The Greg Hill Foundation and Samuel Adams have teamed up to support those from the restaurant industry across the country who have been impacted by the COVID-19 closures. Samuel Adams and The Greg Hill Foundation are bringing the successful Restaurant Strong Fund to 20 total states to aid the restaurant workers impacted by the Covid-19 closures. Following the success of the Massachusetts launch in mid-March, Samuel Adams is donating over $2,000,000 to kickstart funding in Arizona, California, Connecticut, Florida, Georgia, Illinois, Massachusetts, Maine, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas and Vermont. Please visit the Restaurant Strong Fund to apply. They are not currently accepting new applications at this time, but may reopen applications as funding becomes available.
