(Washington, DC) – Today, U.S. Senator Jeanne Shaheen (D-NH), a senior member of the Senate Small Business and Entrepreneurship Committee (SBC), and U.S. Senator Maggie Hassan (D-NH) provided an update to the New Hampshire Commerce Corridor Chamber Coalition on new relief heading to local businesses through the American Rescue Plan.
During the event, they listened to the challenges facing New Hampshire’s business community and highlighted new provisions to help, including an additional $7.25 billion for the Paycheck Protection Program (PPP) – which Senator Shaheen helped create through the CARES Act – and $1.25 billion for the Shuttered Venue Operator Grant (SVOG) program. They also noted that restaurants can access direct relief through the Restaurant Relief Fund, a new $29 billion grant program that Senators Shaheen and Hassan helped secure. Senator Hassan also discussed an effort she spearheaded to make relief available to new businesses.
“I was grateful to have the opportunity to hear from New Hampshire’s small business community this morning about the tremendous challenges they’ve faced this year. These businesses are staples in our communities and the engine of our economy, and they deserve every resource possible to recover from this economic crisis,” said Shaheen. “I’m glad the American Rescue Plan delivers billions more in assistance for businesses through the Paycheck Protection Program, which I’m now working to extend for another two months so relief can reach as many businesses as possible. I’m also pleased to see boosted funding for shuttered entertainment venues and restaurants struggling to afford overhead costs and payroll. This relief package makes important headway in delivering assistance to those on the frontlines of the economic crisis, and I’ll continue raising the voices of our small business owners and entrepreneurs to ensure they are at the forefront our recovery efforts.”
“New Hampshire’s innovative businesses and entrepreneurs create good jobs, support a strong middle class, and serve as a backbone for our communities. This pandemic has put small businesses under an enormous amount of stress, and I am very glad that the American Rescue Plan includes significant relief that Senator Shaheen and I helped secure to support small businesses,” said Hassan. “I appreciated hearing from business leaders today and discussing the relief that is available to New Hampshire businesses, and I will continue to work to get this critical relief out the door as quickly as possible.”
A recording of the event can be viewed here.
Senators Shaheen and Hassan are part of the bipartisan, bicameral group of lawmakers that has steered negotiations of COVID-19 relief. The COVID-19 relief bill signed into law in December contained Shaheen-negotiated legislation that provided urgently needed assistance to American students, families, businesses, workers and health care providers impacted by the public health and economic crises. Senator Hassan led negotiations on extending unemployment benefits, relief for K-12 and higher education institutions, and funding for the Postal Service in the bipartisan working group. Senator Shaheen helped lead negotiations on the provisions to assist small businesses in the Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law a year ago this week, which established the Paycheck Protection Program and expanded the Economic Injury Disaster Loan Program. Both of these programs have been lifelines for businesses throughout New Hampshire and the country.