April 01, 2020

Kuster, Hassan Hold Call with New Hampshire Small Businesses on COVID-19 Planning, Preparation and Impact

Concord, NH - Today, Rep. Annie Kuster (NH-02) and Senator Maggie Hassan (D-NH) held a call with local business leaders to discuss planning, preparation and impact of COVID-19 on New Hampshire businesses. Kuster and Hassan heard directly from local business leaders in the state, including the New Hampshire Department of Business and Economic Affairs, the Small Business Administration, and the New Hampshire Bankers Association. 

 

“I was glad to speak directly with New Hampshire’s business leaders and look forward to our continued communication as Congress works to help our nation’s small businesses through this difficult time,” said Rep. Kuster. “Last week, Congress came together  to pass bipartisan legislation to provide direct financial support to our workforce, small businesses, and families. This bill demonstrates how Democrats, Republicans, and the Trump Administration can work together and take action to protect the American people. The health, well-being, and economic vitality of the Granite State and the American people is my top priority and I’ll keep working to ensure our state gets the support it needs as we work to  mitigate the spread of this virus.”

 

“As our country grapples with both the public health and economic impacts of the COVID-19 pandemic, New Hampshire’s businesses are under an enormous amount of stress,” Senator Hassan said. “I was glad to join Representative Kuster today to speak with business leaders about how the bipartisan COVID-19 response legislation will support small businesses across our state. I will continue working with the rest of the New Hampshire Congressional Delegation to respond to the needs of our business community and work to get them the resources that they need to get through this challenging time.”

 

“This is an unprecedented  situation that is significantly impacting our critical industries,” said Taylor Caswell, commissioner of the New Hampshire Department of Business and Economic Affairs. “Our state and federal partners are  working together to coordinate response and resources to our businesses so that they can get back work as soon as possible.”

 

Last week, Congress passed the bipartisan CARES Act, which will provide direct financial support to American workers, small businesses and families. Specifically, this bill creates a Small Business Rescue Plan that will establish over $376 billion in loan relief and grants to help small businesses. That includes:

 

  • $349 billion for forgivable loans to small businesses to pay employees and keep them on the payroll.

 

  • $17 billion for debt relief for current and new SBA borrowers.

 

  • $10 billion in immediate disaster grants.

 

  • Additionally, low-income and middle-class income earners can expect a cash payment of $1,200 per individual and $2,400 per family, with additional support for families with children. 

 

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