Self-Employment Livelihood Fund Announced- applications available beginning July 6th
Having been excluded from other federal CARES Act state grants such as the Main Street Relief Fund, Governor Sununu has announced a new grant program aimed at those who are self-employed and have been finically impacted by the COVID-19 pandemic. The business must be in New Hampshire to qualify for a grant, and the owner (or owners) must be the only employees. The business cannot have permanently closed, nor can it currently be in bankruptcy. Finally, revenue from the business is capped at $1 million per year or less. Grants will be capped at $50,000. Business owners who have received expanded unemployment benefits will have those amounts subtracted from the grant amount. The application period is scheduled to begin Monday, July 6th and will conclude on July 17th.
Follow this link to read the full story at NH Business Review
Hotels, campgrounds going to 100% capacity today
Starting Today, all hotels and campgrounds in New Hampshire will be able to operate at 100% occupancy.
Smaller inns and other lodging were allowed to reopen June 5 at full capacity, with larger venues at 50% capacity.
Gov. Chris Sununu said Thursday there is “no direct evidence of severe breakouts of COVID-19 due to lodging.”
For out-of-staters, a quarantine-at-home rule for 14 days before arriving still applies.
DOL releases bulletin clarifying paid family leave for summer camp closures.
The federal Department of Labor released today Field Assistance Bulletin 2020-4 which provides guidance on when an employee qualifies to take paid leave under the Families First Coronavirus Response Act to care for his or her child based on the closure of a summer camp, summer enrichment program or other summer program for coronavirus-related reasons.
Follow this link to read the full bulletin
US DOL provides one-pager explaining federal paid family leave benefits
SBA reopens EIDL/EIDL Advance Programs
U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance programs to all eligible applicants experiencing economic impacts due to COVID-19 today. SBA’s EIDL program offers long-term, low interest assistance for a small business or non-profits. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. The EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties.
Follow this link to the SBA EIDL portal
PPP Loan Forgiveness
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. The loan forgiveness form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:
• Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
• Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the 24-week period after receiving their PPP loan
• Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
• Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
• Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined
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