Today, Rep. Annie Kuster (NH-02) held a conference call with New Hampshire nonprofit leaders regarding COVID-19 planning, preparation, and the impact that the virus has had on local nonprofit organizations. Leaders from local nonprofits joined the conversation, including Granite United Way, NH Charitable Foundation, and the NH Center for Nonprofits.

“Nonprofit organizations have been the backbone of our local response to the coronavirus pandemic in New Hampshire, and I was proud to talk with leaders from Granite United Way, the NH Charitable Foundation, the NH Center for Nonprofits leadership, and others,” said Kuster. “In Congress, I was glad to support the three legislative packages we passed to bolster our nation and our state’s response to this virus.”

“On today’s call, we discussed the many resources and options available to nonprofit organizations through the CARES Act, which we passed last week in the House,” Kuster continued. “It is crucial for nonprofits to know that they too are eligible for SBA loans that can be forgiven to cover critical expenses such as payroll, mortgages, and utilities. I encourage all New Hampshire nonprofits to visit SBA.gov, which provides extensive resources and guidance during these uncertain times. My office has been in constant contact with local businesses, nonprofit organizations, health care providers, and education and community leaders to ensure all available financial resources are being utilized here in the Granite State.” 

"The NH Center for Nonprofits is pleased to work with Representative Kuster and our entire delegation in getting critical information out to nonprofits,” said Kathleen Reardon, Chief Executive Officer at the NH Center for Nonprofits. “New Hampshire's nonprofits are integral to our communities, and many are being asked to increase services as they endure resource challenges. We're grateful for leaders who will help sustain our sector so we can respond to public needs and be there to revitalize our communities."

“At Granite United Way and 211 NH, we are proud to be part of the team of nonprofits, government and private sector partners that have come together to address the COVID-19 crisis in New Hampshire,” said Bill Sherry, Chief Operating Officer of Granite United Way. “Thank you to Congresswoman Kuster for convening the call today to share information”

“New Hampshire's nonprofits are providing critical services and adapting to this crisis with resilience, courage and determination across all our communities-- facing increased demand for services and funding shortfalls,” said Katie Merrow, Vice President of Community Impact at the NH Charitable Foundation. “Thank you to Representative Kuster and to our entire congressional delegation for supporting the nonprofit sector during this very challenging time.”

The New Hampshire Charitable Foundation has responded to the COVID-19 pandemic with a community crisis action fund, which will support immediate and unrestricted grants to nonprofits on the front lines, strategic grants to help reduce the longer-term impact of COVID-19 on critical systems, and local emergency funds to directly assist individuals and families in need. In addition, Granite United Way has partnered with the state of New Hampshire on the organization’s 211 number by taking calls from New Hampshire residents regarding COVID-19. The NH Center for Nonprofits is providing assistance to its members on available federal and state resources, including Small Business Administration (SBA) lending and understanding recent legislation in regular terms. 

The CARES Act Secures Critical Support and Resources for Nonprofits:

• The bill creates a new Emergency Small Business Loan program within the SBA 7(a) loan program. To be eligible, nonprofits or for-profits must have been in existence on March 1, 2020 or earlier and have 500 or fewer employees. 
• Under this new program, loans are forgivable if the nonprofit or for-profit keeps staff on the payroll between March 1 and June 30. 
• This, in essence, turns the loan into a general operating support grant. Forgivable loans of this type can be taken out for as much as $10 million and can be used to meet payroll and associated costs (including health insurance premiums), facilities costs, and debt service.
• For larger nonprofits above 500 employees, the CARES Act also calls for the creation of a loan and loan guarantee program via a new Industry Stabilization Fund specifically targeting “mid-size” organizations, defined as having between 500 and 10,000 employees.
• This provision, unlike the emergency SBA loan program, does not provide loan forgiveness, but does mandate an interest rate of no higher than two percent and would not accrue interest or require repayments for the first six months.

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