May 18, 2020
Governor announces $400 million in relief funds
Governor Chris Sununu announced on Friday the formation of the Main Street Relief Fund – $400 million from the CARES Act to provide financial relief to New Hampshire small businesses due to the economic disruption caused by COVID-19.
In order to provide the most effective relief as quickly as possible, New Hampshire small businesses will first be required to provide information concerning their possible COVID-19-related lost revenues and receipt of Paycheck Protection Program (PPP) loans or any other federal relief. This information will be used to determine elegibility and amounts to meet the needs of small businesses, including whether the initial $400 million is appropriate or needs to be changed.
The prequalification application can be found here. The deadline to submit completed prequalification form is May 29, 2020.
Following the mandatory prequalification period, the Governor’s Office for Emergency Relief and Recovery (GOFERR) will review all information received and quickly determine relief criteria and amounts that effectively meet the needs of as many New Hampshire small businesses as possible. The specifics of this funding opportunity will be announced on June 1, 2020, and any eligible businesses will need to submit a formal application within one week, by June 8, 2020.
For more information on issues pertaining to the impacts of coronavirus on the real estate industry, we encourage members to visit our dedicated webpage for the latest news and resources.