PPP Re-Opening and New Guidance
Congress appropriated an additional $284 billion for PPP under the Economic Aid Act. New borrowers and certain existing PPP borrowers will be able to apply for a First or Second Draw PPP Loan through March 31, 2021. In order to be eligible to be for a second draw loan, businesses or self-employed individuals must:
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
- Has no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts on an annual or quarterly basis between 2019 and 2020.
- The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;
The SBA announced that the Paycheck Protection Program (PPP) will re-open the week of January 11. To promote access to capital, initially, only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter.
The SBA anticipates that there will be enough PPP funds to meet nationwide demand and suggests that borrowers work with their existing financial institution. We encourage businesses to complete their year-end financial statements in order to be prepared to apply.
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Economic Injury Disaster Loan (EIDL) Application Deadline is Extended through Dec. 31, 2021
EIDL loan applications will now continue to be accepted through December 2021, pending the availability of funds. Loans are offered with a 3.75% interest rate for small businesses and a 2.75% interest rate for nonprofit organizations. Learn more about how an EIDL loan could be a resource for your small business.
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State COVID-19 Employer Resources |
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NH Mask Enforcement Guidance
The NH Attorney General's Office has issued guidelines for retail and grocery employees on how to respond to customers who refuse to wear a mask. Retail employees are urged not to engage with the customer after the refusal to wear a mask. Be sure to call your local law enforcement department prior to an issue to establish a plan with them. Read more.
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If an Employee Tests Positive for COVID-19
The NH Department of Health & Human Services issued new guidance that outlines the five steps an employer should take if their employee tests positive for COVID-19. To learn more and download their document visit:
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COVID Creativity: Coworking House
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Kristin Hardwick, founder and owner of Coworking House in Milford, learned how to adapt her business to the dual pressures of a global pandemic and a paradigm shift in how we all work. Learn about how she continues to lean into the modern and highly personalized concept of the mobile office, while building social cohesion and community. Read more about Kristin's story.
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SBDC Recovery & Resiliency Webinars |
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January 12, 20, 26 | 10am
January 14, 29 | 1pm
January 22 | 12pm
The new stimulus bill makes more funds available to small businesses. Join us to find out more details on how the bill can impact your business.
Presented by Chuck Gilboy, NH SBDC Business Advisor
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Adapt Your Marketing - Increase certainty in your business
Update your marketing to reach your audiences’ new needs and habits.
January 19 | 1pm
Presented by Rita Toth, NH SBDC Business Advisor
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Control your business path:
Staying open/Closing/Bankruptcy
January 27 | 1pm
Join us to learn about how to control your business' next steps, whether you are considering staying open, closing, or bankruptcy.
Attendees will be anonymous.
Presented by Warren Daniel, NH SBDC Business Advisor
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SBDC advisors will speak for a few minutes on a topic, and then open up discussion for Q&A. You can submit questions beforehand or ask in the chat.
Topic: Finding the Money
January 26 | 1pm
Presented by Rita Toth & Andrea O'Brien, NH SBDC Business Advisors
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SBA Webinar Wednesday
The SBA has programs and services that help small business owners start, grow, expand and recover. Get the latest updates on federal relief programs every Wednesday morning, 9-10am at this Teams meeting link.
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SBIR/STTR Proposal Preparation Workshops
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Are you involved with a New Hampshire small technology business or start-up? Are you looking for resources to support your R&D?
If so, the federal government’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs could be sources of grant funding to support your research.
SBDC is partnering with UNHInnovation to bring businesses SBIR training.
Check out the two upcoming, no-cost SBIR/STTR Proposal Preparation Workshops below:
1/19, 9am-2:30pm, Focus: National Institute of Health
1/26, 9am-2:30pm, Focus: National Science Foundation
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Ascent Digital Learning Platform for Women |
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The Small Business Association (SBA) has launched Ascent, a new free learning platform for women entrepreneurs. It's a first-of-its-kind digital online learning platform geared toward helping women-owned small businesses recover and grow.
With Ascent, female entrepreneurs can utilize a modern e-learning experience that is specifically tailored for them.
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Cybersecurity Program RFP |
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NH SBDC seeks a partner to help us establish a new small business cybersecurity program. A qualified partner has the ability to create strong partnerships; the capability to ramp up quickly; a substantial understanding of the NH small business landscape; and expertise in small business cybersecurity topics. Email Christine.wolczko@unh.edu for more information and the RFP.
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NH SBDC is NH's premier business advising resource. SBDC's team of certified business advisors provides highly individualized, confidential advising and education at no cost to NH enterprises.
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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration (SBA ) and through assistance provided by the State of New Hampshire. The NH SBDC is an outreach program of the UNH Peter T. Paul College of Business and Economics in conjunction with SBA, the State of NH (BEA), the University of NH, and the private sector. |
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