New Hampshire Programs for Business Relief
CAP provides support on term loans and lines of credit up to $200,000.
The program can be used for temporary loans, working capital, equipment purchases and many long term uses. Eligible businesses must have annual revenues of less than $5M.
Direct loans from the Business Finance Authority for any business purpose with a maximum of $200,000 and a maximum loan term of three years.
Loans have flexible amortization schedules and are contingent on satisfactory underwriting.
The Queen City Loan Fund provides new and existing Manchester businesses access to capital for growth or expansion. QCLF also aims to support and contribute to Manchester’s revitalization through business development and job growth.
The MDC Revolving Loan fund provides financing assistance to businesses for the purpose of creating or retaining jobs in the city of Manchester, New Hampshire.
- Loans of $10,000 - $50,000 may be used for working capital
- Loans of $10,000 - $100,000 may be used for fixed asset acquisition and capital improvements
CRDC offers several loan options to ensure that a wide array of needs are met. CRDC typically fills a financing gap that has been identified by a bank by providing a subordinated enhancement loan.
This loan fund is for Manchester, NH small businesses that:
- Have 50 employees or less
- A brick and mortar location in the City of Manchester
- Were directly impacted by the mandatory business closure order
The loan fund uses are restricted to costs associated with resuming operations. Priority will be given to those small businesses that generally rely on serving customers in-person.
Eligible small businesses can receive a grant up to $5,000 through this program. It does not need to be repaid and can go towards eligible expenses incurred since March 13, 2020.
Eligibility criteria include:
- A business must have a physical establishment in the City of Manchester
- Employ no more than 15 full-time equivalent employees
- Have less than $2,000,000 in gross annual receipts
- Show a loss of revenue of 50% or more during a specific time-frame due to the impact of COVID-19
- Meet certain HUD criteria ensuring the business employs low to moderate-income employees
The Governor has allocated $100 million for an additional round of small business support to New Hampshire small businesses suffering from business interruptions as a result of COVID-19. This program is for both prior MSRF and General Assistance & Preservation (GAP) Fund grant recipients, and businesses that did not receive a MSRF or GAP Fund grant but are otherwise qualified under the program criteria.
To qualify must (amongst other criteria):
- Be a for-profit business which has not permanently closed
- Have its principal business office in New Hampshire
- Have typically employed at least one non-owner W-2 employee before COVID-19
- Have been in operation since at least May 29, 2019
- Anticipate a loss of gross receipts in 2020 as compared to 2019, due to COVID-19
- Have total 2019 gross receipts of less than $20 million