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SBA Declaration: Approved
Concord, NH – Today, Governor Chris Sununu announced that the U.S. Small Business Administration (SBA) approved New Hampshire’s application for SBA Economic Injury Disaster Loans, which will help small businesses overcome loss of revenue due to the COVID-19 outbreak.
"New Hampshire is one of the earliest states in the country to be approved, and this is good news for our small businesses who will need this capital to help weather the impact of the coronavirus," said Governor Chris Sununu. "I thank the SBA for making these funds available and for their efforts and support. I encourage New Hampshire's small business owners to take advantage of these loans during this developing public health situation.”
"The SBA wants to thank Governor Sununu and his team at the Department of Business and Economic Affairs for their hard work, and immediately reaching out to small businesses in New Hampshire to quantify the impact and gather the required documentation allowing SBA to issue this Economic Impact Disaster Declaration," said New England Regional Administrator Wendell Davis.
"It is critical that we support both New Hampshire businesses and workers during this challenging time," said Department of Business and Economic Affairs Commissioner Taylor Caswell. "We have been, and will continue to be, working closely with the Federal Government and other entities that can offer support to ensure that there are resources available for businesses impacted by the changes in the market as a result of the Coronavirus."
Late last week, the SBA announced it would make economic injury disaster loans available to small businesses upon the request of a state's governor. In a letter to the SBA, Governor Chris Sununu certified that New Hampshire's small businesses have been impacted by COVID-19 and are eligible for the SBA loans. With the Governor's letter, New Hampshire along with most of New England is one of the early states to be approved for the SBA loans. According to the SBA, the loans offer up to $2 million in assistance for small businesses and may be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact.
The SBA toll-free line has been established to answer questions at 1-800-659-2955. Furthermore, in collaboration with the Department of Business and Economic Affairs, the SBA and its Resource Partners, NH Small Business Development Center, SCORE and Women Business Centers will be providing workshops to answer questions and to help small businesses with the loan application process.