COVID-19 INFORMATION & RESOURCES FOR EMPLOYERS -Updated April 9th
CHECK OUT or COVID-19 section on our website
APRIL 2020 List of SBA's PPP Preferred Lenders in NH just released:
Attorney General’s COVID-19 Scam Alert: Stimulus Payments:
ttorney General Gordon J. MacDonald is warning about a wave of COVID-19 related scams surrounding federal stimulus payments. These scams target consumer vulnerability by attempting to capitalize on the anxiety naturally arising from current events. The public should always be vigilant with respect to potential scams. However, during these challenging times, heightened awareness is essential. The Attorney General urges the public to use common sense and caution to protect against scammers.
Read more here
PPP Loan Closing:
- Lender must make the first disbursement no later than 10 business days from date of approval. Click Here for the most up to date PPP FAQ’s
- Lenders can use their own Notes
- The lender can proceed without an SBA Authorization and update the loan file once a legally approved template is provided. We are aware of the Authorization in Etran Servicing; however the green light has not been given to use that as of yet.
Changes to 4506-T Verification Procedures during COVID-19:
In an effort to minimize the impact of the IRS not currently receiving 4506-T’s and to ensure that loan proceeds are disbursed to small businesses as soon as possible, SBA is providing temporary procedural guidance relating to the verification of financial information for SBA Lenders.
Federal Reserve releases $2.3 trillion in loans to support the economy:
The Federal Reserve announced today that it is taking additional action to provide up to $2.3 trillion in loans to support the economy. This funding will assist employers of all sizes and is intended to bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic.
Actions taken today by the Federal Reserve include:
- Bolstering the effectiveness of the Small Business Administration's Paycheck Protection Program (PPP) by supplying liquidity to participating financial institutions through term financing backed by PPP loans to small businesses. The PPP provides loans to small businesses so that they can keep their workers on the payroll.
- Ensuring credit flows to small and mid-sized businesses with the purchase of up to $600 billion in loans through the Main Street Lending Program.
- Increasing the flow of credit to households and businesses through capital markets, by expanding the size and scope of the Primary and Secondary Market Corporate Credit Facilities
- Helping state and local governments manage cash flow stresses caused by the coronavirus pandemic by establishing a Municipal Liquidity Facility that will offer up to $500 billion in lending to states and municipalities.
Senate impasse scuttles “Phase 4” coronavirus legislation
It appears that bipartisan cooperation on Capitol Hill, which was needed for the speedy passage of two major Coronavirus response bills (the Families First Coronavirus Response Act and the CARES Act) has all but evaporated. “The Hill” is reporting that the most recent proposal, also known has “Phase 4” has run aground in the Senate with Democrats and Republicans effectively killing each other’s efforts.
Read the full story here
Governor Establishes Oversight Office for Federal Stimulus Dollars
Governor Chris Sununu has sent a letter to Senate President Donna Soucy and House Speaker Steve Shurtleff outlining the formation of the Governor's Office for Emergency Relief and Recovery (GOFERR). GOFERR will be charged with the investment and oversight of COVID19 relief and stimulus funds provided to New Hampshire by the federal government. The office will manage the accounting, auditing, legal, and IT requirements surrounding these investments and will ensure transparency and accountability metrics to the citizens of New Hampshire for all relief and stimulus efforts.
Read the full letter here
Treasury Department, SBA Provide Payroll Protection Program FAQs
The Small Business Administration, in consultation with the Department of the Treasury have created a “Frequently Asked Questions” document to address borrower and lender questions concerning the implementation of the Paycheck Protection Program.
Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation of the CARES Act and of the
Paycheck Protection Program Interim Final Rule
and the U.S. government will not challenge lender PPP actions that conform to this guidance, and to the PPP Interim Final Rule and any subsequent rulemaking in effect at the time.
Read FAQs Here
Crossing State Lines
hree states in New England, including all of New Hampshire’s bordering states, have instituted requirements for domestic travelers. Across the country 40 states have implemented some type of interstate travel restrictions. A story in “USA Today” provides a state-by-state description of the existing travel restrictions.
Read the full story here
ZOOM Webinar from the Small Business Development Center this Friday at 1pm!
Ask their experts YOUR questions LIVE!
and to sign up"
Tips from the Chamber to promote your business during tough times!
We are continuing to find resources and helpful information for businesses during the COVID-19 crisis. Our
is a great tool to communicate with the public as well as your fellow members.
keeping your company profile
updated, other members as well as the public can find information they may need to contact you.
In addition to our 'Free Flyer Friday' mailing, you could
post a 'Hot Deal'
on our page (i added one so that you can see what it looks like) and that shows up under out website link: WHAT'S NEW. Once there are a few HOT DEALS posted, we will add a direct button on our HOME page for more visibility.
Below are links to the
for ease of use.
or call the office at 603-673-4360.