Washington, DC - Today, Rep. Annie Kuster (NH-02) met virtually with leadership from New Hampshire banks to hear about their experiences with COVID-19 funding relief programs. Kuster co-sponsored the Paycheck Protection Program Flexibility Act, which became law in June and provides flexibility to the Paycheck Protection Program (PPP) to make critical funds more accessible to small businesses that are facing economic challenges due to the COVID-19 pandemic. She also co-sponsored the Paycheck Protection Small Business Forgiveness Act, which would streamline forgiveness of PPP loans under $150,000. Kuster held a virtual discussion with NH Bankers and local businesses in August to discuss relief funding.

“The COVID-19 pandemic has hit Granite State small businesses hard, forcing some business owners to lay off employees or close their doors,” said Kuster. “Throughout this unprecedented public health and economic crisis, I have worked hard to secure federal funding that, with the help of our bankers across the state, has brought over $2.5 billion in aid to New Hampshire businesses. I look forward to sharing the insights I heard today with my colleagues as we consider additional COVID-19 relief legislation, and will continue to act as a resource for businesses across the state. By working together, we can ensure a strong economic recovery and move forward from this crisis.”

“We are grateful to Congresswoman Kuster for keeping the lines of communication open with our bankers during the pandemic, to engage with us and understand the industry challenges as bankers do their best to support their customers and communities,” said Kristy Merrill, President of the NH Bankers Association. “We are especially grateful for her support and co-sponsorship of legislation to streamline PPP forgiveness for loans less than $150,000 to the benefit of our small Granite State businesses. We look forward to our work together to continue New Hampshire’s economic recovery.”

During the discussion, Kuster heard from:

• Rick Wallis, President & CEO, Piscataqua Savings Bank, Chair of NH Bankers

• Reginald Greene, President & CEO, Claremont Savings Bank, V Chair of NH

Bankers

• Ron Magoon, President & CEO, Franklin Savings Bank, Treasurer of NH Bankers Association

• Linda Lorden, President & CEO, Merrimack County Savings Bank, Secretary of NH Bankers Association

• Clayton Adams, President & CEO, Mascoma Bank

• Brian Bozak, Executive VP, COO & CFO, Franklin Savings Bank

• James Graham, President & CEO, Woodsville Guaranty Savings Bank

• Ryan Hale, VP Government Relations, NH Bankers Association

• Jocelyn Kelly, State Government Relations Manager, Citizens Bank

• Ann Lally, President & CEO, Salem Cooperative Bank

• Kristy Merrill, President, NH Bankers Association

• Daniel Morrison, CEO, Cambridge Trust New Hampshire

• Ann O’Clair, SVP, COO, CFO, Sugar River Bank

• Ryan Pope, VP Office Manager, Cambridge Trust

• Ken Sheldon, NH Market President, Bank of America

Kuster worked with her colleagues in Washington to secure federal funding that led to more than 24,000 PPP loans that brought over $2.5 billion to NH businesses. She also supported the CARES Act, which provided funding for the state’s creation of the Main Street Relief Fund, Self Employed Livelihood Fund and the GAP fund, all of which provided critical funding to Granite State businesses, entrepreneurs and nonprofit organizations. In May, Kuster voted in favor of the HEROES Act, which provides businesses greater flexibility to use PPP and additional funding for EIDL. The House passed an additional COVID-19 relief package – an updated version of the HEROES Act – last week, and negotiations with Senate Republicans were ongoing until President Trump announced last night that negotiations were over until after the November 3 election.

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