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Financial Resources for Small Business Owners

On June 25th, Governor Sununu announced a new relief effort for the self-employed called SELF, the Self-Employment Livelihood Fund.
  • To be eligible a business must meet the following criteria:
  • Be located in NH
  • The owner must be the only employee
  • The business must be for-profit
  • The business can't be permanently closed, not including those that temporarily closed due to COVID-19
  • The business can't currently be in bankruptcy
  • The business must have had gross receipts in 2019 of less than $1 million
Individual award amounts will be calculated similar to the Main Street Relief Fund. The maximum award a business can receive is $50,000.

Here's how to apply:
  1. Go to the site: https://www.goferr.nh.gov/covid-expenditures/new-hampshire-self-employed-livelihood-fund-self
  2. Click Home
  3. Apply Now
  4. Submit Grant Application
  5. Read the General Instructions and click the box
Business owners not eligible for SELF:

  1. Businesses not in operation prior to July 17, 2019
  2. Gross receipts greater than $1 million
  3. Childcare providers
  4. Healthcare providers, including all healthcare practitioners (physicians, dentists, chiropractors, optometrists, mental health practitioners, specialty therapists, podiatrists, etc.), outpatient care centers, and ambulatory health care services.
  5. Other standard exceptions.

PPP Extended - Applications Accepted thru August 8th

More time allotted for any small business or organization that has not taken advantage of the PPP Loan Program.
The Paycheck Protection Program provides small businesses with funds for payroll costs and other eligible non- payroll costs.
More than $100 Billion in PPP funds are still available. The recent passage of the Paycheck Protection Flexibility Act allows small businesses to use funds up to 24-weeks and have the option of extending the life of the loan from two years to five. SBA will forgive loans if funds are used as intended.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Disaster Loan Program Continues to Accept Applications for All Small Businesses and Private Non-Profits

The Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal is open to all eligible applicants experiencing economic impacts due to COVID-19.
This direct loan program provides long-term, low interest assistance for emergency working capital. Funds can be used to cover monthly operating expenses until normal business operations resume. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief.

DOL Introduces a New Tool:

Today Wage and Hour launched a new online tool that guides workers through a series of questions to help them determine if they are eligible for paid sick leave or expanded family and medical leave under the Families First Coronavirus Response Act (FFCRA). As America continues to re-open, this tool stands to help employees and employers to determine who is qualified for the FFCRA protections and benefits. I hope you will become familiar with this new tool and share with others as you deem appropriate.

NHBA Business Resources

We will consistently be researching ways that we can help our members through these difficult times. If you have any ideas or suggestions on how we can be a resource to you, please do not hesitate to reach out to us.

View our other recent news online.