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Help For Businesses Impacted By COVID-19

To support our small business and nonprofit customers during this unprecedented time, we are maintaining a list of federal and state resources available to you under the Coronavirus Aid, Relief, and Economic Security Act (CARES).

You may qualify for the following programs:

The SBA Economic Injury Disaster Loan Program offers low-interest federal disaster loans for working capital to certain small businesses suffering substantial economic injury as a result of COVID-19.

This program is open until September 30, 2020, but you should apply as soon as possible.

Loan terms:

  • Loans up to $2M with rates of 3.75%, or 2.75% for nonprofits
  • Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid due to COVID-19
  • Repayment terms of up to 30 years 

Loan advance:

  • Loans advances of up to $10,000
  • Loan advance does not need to be repaid
  • Funds made available within three days of a successful application
  • 2019 tax return if filed, OR
  • 2019 year-end profit/loss statement and balance sheet with most recent tax filing
  • 2020 YTD profit/loss statement

Complete an application on the SBA website.

In response to COVID-19, the SBA has expanded SBA Express Bridge Loan eligibility to small businesses across the country that have sustained financial loss because of COVID-19.

The program expansions allows loans to be made through March 13, 2021.

Loan terms:

  • Maximum loan amount of $25,000
  • Maximum seven-year loan term
  • Repayment terms of up to 30 years and payments may be deferred for six months
  • Connects with an EDIL loan
  • 2019 tax return if filed, OR
  • 2019 year-end profit/loss statement and balance sheet with most recent tax filing
  • 2020 YTD profit/loss statement
  • An existing relationship with a SBA Express lender

Apply for an express bridge loan by contacting your local SBA District Office.

Administered by the Federal Reserve, the Main Street Lending Program is designed for medium-sized businesses that are too large for the Paycheck Protection Program 

Small and medium-sized businesses interested in the program can apply by contacting an eligible lender.

More information:

Visit the Federal Reserve Board website for more information.

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.

Learn more

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.

Learn more 

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.

Learn more

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

Learn more

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. 

Learn more

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.

Learn more

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

Learn more

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

Learn more

BDC Capital pools money from many financial institutions to share the risks of helping promising companies expand. It provides:

  • Loans
  • Mezzanine and equity investments
  • Guarantees
  • Financial services to businesses of all kinds

More information:

Visit the BDC Capital website for more information.

USDA’s Farm Service Agency will provide additional aid to agricultural producers (dairy, crop, and livestock farmers) due to losses generated by the COVID-19 pandemic  

More information:

Visit www.farmers.gov/cfap for more information.