Dear Businesses:
As of Monday, May 18, NH announced that
Daycares
,
Attractions
(mini-golf, biking/kayaking/canoe rentals, driving ranges and others) and
Equestrian
Facilities may reopn.
On Friday May 15, NH Governor Sununu announced $400 Million in emergency funding for NH businesses with less than $20 million in annual revenue. Called the
Main Street Relief Fund, businesses need to apply for prequalification between May 15 to May 29
. This is a grant program.
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
Other funds were established for healthcare, daycare, and agricultural businesses as well as nonprofit organizations.
We will share more info on application procedures as it becomes available.
For Cutural Nonprofits:
The
New Hampshire Humanities
has program and general operating support grants intended for humanities and cultural nonprofits and public libraries.
REOPENING INFORMATION:
Vermont announced reopening starting May 18 for retail and hotels and other lodging businesses, campgrounds and marinas can begin reopening May 22. The Stay at Home Order is extended to June 15.
Vermont Guidelines.
PPP FORGIVENESS INFO:
You will be able to apply for forgiveness of your PPP Loan after
June 1
(depending on when you received your loan - you may apply for forgiveness at the end of the first payroll period following the 8 weeks after loan disbursement.
- For full forgiveness, you will need to spend the entire amount of your loan
- You will have to spend your loan proceeds on eligible expenses
- At least 75% of your expenditures will need to be for payroll
- You will have to restore the number of employees (measured in FTEs) to prior levels (average monthly number of employees in 2019). You have until June 30 to restaff.
- Total individual employee wages during the 8-week period, divided by eight must be no less than 75% of the individual employee's average weekly wages during Q1 2020.
See a copy of the
Loan Forgiveness Application
to help you determine information you will need to gather.
Tracking this information now is critical to receiving your loan forgiveness - make sure you have are tracking all necessary expenses.
Several local lenders have developed courtesy PPP tracking tools. Contact your lender or check their websites.
We have added more information to our
website
.
Helpful Webinars & Links:
