As of Tuesday, May 4, the SBA announced that the funding for the Paycheck Protection Program Extension Act had been exhausted, and the PPP application portal will stop accepting applications for loans. Regrettably, we are unable to take any new PPP applications at this time. The SBA will not accept applications in progress or waiting […]
Restaurant Revitalization Fund Launches for Businesses In the Food Industry
We want to be sure you are aware of the new Small Business Administration (SBA) Restaurant Revitalization Fund (RRF). The RRF is essentially a grant and not a loan. The program is being run directly through the SBA. While the bank is not involved in the process, we want to be sure you were aware […]
Check the Status of Your Economic Impact Payment with the IRS Get My Payment Tool
The US Treasury has begun to deliver the third round of Economic Impact Payments (EIP) to eligible Americans. For most recipients, no action is necessary to receive your payment, it will automatically be deposited into the account you normal receive your tax refund to. The IRS will also be issuing payments via paper checks and […]
New Hampshire Housing Launches Community Heroes Homebuyer Initiative
In appreciation of the vital services that New Hampshire’s essential frontline workers have been providing during the COVID-19 pandemic, New Hampshire Housing has launched a special initiative to help them become homeowners. The new Community Heroes Initiative provides a $3,000 closing-cost credit to eligible first-time homebuyers who finance through one of New Hampshire Housing’s Plus mortgage programs. […]
IRS Issues EIP FAQs as Direct Deposits Begin Moving
The IRS has announced that the third round of economic impact payments will begin reaching Americans this week, with some direct deposit payments arriving as soon as this past weekend. “Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card. The vast […]
EIDL Advance and PPP Loan Update
The latest COVID-19 relief bill repealed the section of the COVID Aid Relief and Economic Security (CARES) Act which required the Small Business Association (SBA) to reduce a borrower’s Paycheck Protection Program (PPP) loan forgiveness by the amount of any Economic Injury Disaster Loan (EIDL) Advance received. The SBA’s Forgiveness platform has been updated to […]
Important Notice about Second Round of Economic Impact Payments
The US Treasury has begun to deliver the second round of $600 Economic Impact Payments (EIP) to eligible Americans. The Internal Revenue Service announced that their ‘Get My Payments’ portal, available in English and Spanish, is now live for individuals to log on and view the status of their economic impact payment. The IRS began […]
Congress Re-Opens the Paycheck Protection Program
On December 21st, the U.S. Congress approved a new COVID-19 Relief Bill that includes re-authorization of the Paycheck Protection Program (PPP). The bill contains several amendments to the PPP and forgiveness process for existing PPP loans. The following is a recap of some of the provisions within the new bill, which still must be signed […]
Important Notice about the Main Street Relief Fund Version 2.0
Governor Sununu has authorized the allocation and expenditure of $100 Million in CARES Act Coronavirus Relief Funding (“flex funds”) to provide economic support to NH small businesses suffering from business interruptions due to COVID-19. This allocation and expenditure will be the second round of Main Street Relief (MSRF 2.0). MSRF 2.0 supports both businesses that […]
Potential Fraud in Economic Injury Disaster Loan Program
We have received notification from local businesses about instances of fraud in the Economic Injury Disaster Loan (EIDL) and Advance Grant Program. EIDL was established as the first federal small-business assistance program activated to combat the economic crisis caused by COVID-19. The purpose of EIDL loans and advances are to aid eligible, small entities and […]