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PROUDLY SERVING BERWICK, NORTH BERWICK, SOMERSWORTH, SOUTH BERWICK, ROLLINSFORD & BEYOND

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  • 02/12/2021 3:02 PM | Bonnie McNair (Administrator)

    Concord, NH – Yesterday, Governor Chris Sununu issued Emergency Order #84, an order rescinding Emergency Orders #37 and #77 .pdf Icon, lifting the State of New Hampshire's hiring freeze.

    "As COVID first tore through the country in the spring of 2020 and we anticipated revenue shortfalls of up to 350 million dollars, I took action and called on Commissioners to institute cost-saving measures, including a hiring freeze," said Governor Chris Sununu. "Because of the strategic reopening of our economy and good management, our budget shortfall to end the biennium is now projected to be less than 50 million dollars. The lifting of this hiring freeze is yet another sign that our management paid off and our economy is on its way to returning to the historic highs of before this pandemic."

    A copy of Executive Order #84 can be found here .pdf Icon.

    PDF filePortable Document Format (.pdf) . Visit nh.gov for a list of free .pdf readers for a variety of operating systems


  • 02/12/2021 2:19 PM | Bonnie McNair (Administrator)

    To arrange a donation, please contact Melanie Chase-Benoit:

    Melanie Chase-Benoit
    Guidance Secretary/Registrar
    Somersworth High School
    11 Memorial Drive
    Somersworth,  NH 03878
    (603) 692-2431 ext. 1311
    mchasebenoit@sau56.org


  • 02/12/2021 9:00 AM | Bonnie McNair (Administrator)

    Click on the image to go to the post and submit your entry!

  • 02/10/2021 10:43 AM | Bonnie McNair (Administrator)

    REGISTER

    SAM registration may be a new requirement for you to receive federal government grants. SBIR grant recipients have always needed a SAM registration but now recipients of SVOG's (shuttered venue operator grants) are required to be registered in SAM and our SBA Lenders too.

    Sandra and Nadine

     

    Sandra Ledbetter, with the MSBDC Government Sales Advisory Office will go through step-by-step instructions to ensure you are properly registered in SAM to receive these targeted grants from the SBA.

     

    Nadine Boone, SBA's Assistant District Director for Business Development, MA District Office, will provide additional updates and information on the SBA programs and services. Please join us to learn how to register your company so you can participate in the next round of special SVG funding or to participate as an SBA Lender.

    SAM Registration Webinar


  • 02/09/2021 3:12 PM | Bonnie McNair (Administrator)

    The Mills Administration today offered a solution to the Paycheck Protection Program (PPP) tax conformity issue that would extend full state tax relief to more than 99 percent of Maine businesses that received PPP. The proposal would match the Federal government’s double benefit on the first $1 million of PPP received, an approach that would result in full tax relief for Maine’s small businesses who need it most and partial relief to those Maine businesses that received more than $1 million in PPP.

    The proposal seeks to strike a middle ground between those who oppose conforming to the Federal government’s double benefit and those who support full conformity, while ensuring that tax relief is delivered to Maine’s most vulnerable businesses.

    “Maine small businesses used PPP to keep their doors open, to keep people on payroll, and to keep our economy afloat during a time of extraordinary financial distress,” said Governor Janet Mills. “We recognize the incredible hardship these businesses have endured and, as we have throughout this pandemic, we want to ease their burdens and allow them to stay open and keep people employed. With this proposal, we are matching the measure enacted by the Congress in late December to deliver full tax relief to 99 percent of Maine businesses that received PPP in order to do the most good for the most businesses and the most employees.”

    “The Paycheck Protection Program was a lifeline to many Maine businesses. This program allowed them to keep their businesses operating and offer security to their employees,” said Heather Johnson, Commissioner of the Department of Economic and Community Development (DECD). “This approach is another step in the administration’s commitment to supporting Maine’s businesses as we work through the pandemic.”

    Under the proposal, businesses that received $1 million or less in PPP funds would receive from the State the same double benefit that the Federal government recently enacted. For the purpose of State taxes, like Federal taxes, PPP funds would not be treated as taxable income and any allowable associated expenses would also be deductible.

    “We commend Governor Mills and her administration for their work to find a solution to this problem,” said David Clough, Maine State Director for the National Federation of Independent Business (NFIB). “Her revised Paycheck Protection Program tax conformity proposal would be a tremendous relief to the thousands of small businesses that utilized this vital federal lifeline to keep their doors open, employees working and customers able to get their needs met locally.”

    According to an analysis by DECD, there are 26,683 Maine businesses that received $1 million or less, which is 99.1 percent of all the Maine businesses that received PPP. These businesses employ 184,472 people, which is 81 percent of the total employees at businesses that received PPP. These businesses are predominantly small businesses and members of the hospitality industry that was hardest hit by the pandemic.

    For the 251 businesses (or 0.9 percent) that received more than $1 million in PPP, the State would match the double benefit on the first $1 million received and maintain standard tax treatment for proceeds in excess of that amount. These proceeds would be treated as taxable income eligible for offsetting deductions.

    This action comes after the Federal government in late December 2020 retroactively converted certain PPP loans into forgivable grants and allowed them to be exempt from federal taxation while also allowing associated expenses to be claimed as deductions. In allowing this so-called double benefit, the Federal government, which does not have to balance its budget like Maine, unfortunately did not offer compensation for the loss of tax revenue for states who wish to conform to the federal tax code.

    “With the tax filing season beginning in earnest soon, this proposal makes a meaningful difference for Maine’s business community,” said Kirsten Figueroa, Commissioner of the Department of Administrative and Financial Services. “Moving forward, we hope that as the Federal government makes changes to the tax code, it will keep in mind the resulting impacts on states like Maine and provide the appropriate level of support.”

    The proposal put forward by the Mills Administration today is estimated to cost the State approximately $82 million in tax revenue. The Administration proposes covering this loss by utilizing surplus funding it had previously proposed adding to the Budget Stabilization Fund, drawing upon carryover funds it had proposed rolling forward from Fiscal Year 2021 into Fiscal Years 2022-2023, and utilizing unencumbered funds to maintain a balanced 2022-2023 biennial budget proposal. This would preserve critical investments in public health infrastructure and protect education, property tax relief, revenue sharing, and other measures that will help Maine communities combat and recover from the pandemic.

    The Mills Administration has discussed the proposal with lawmakers, including those on the Appropriations and Taxation Committees, as well as the Maine State Chamber of Commerce, and the National Federation of Independent Businesses (NFIB).

    Today’s proposal builds on the Mills Administration’s support for Maine small businesses, which has included providing more than $250 million in economic recovery grants to sustain business operations and depositing nearly $300 million into the Unemployment Trust Fund to avert large unemployment tax increases for businesses.


  • 02/09/2021 2:27 PM | Bonnie McNair (Administrator)

    Success strategies for thriving in these challenging times

    Resilience is like luck: those who don’t have it may think it’s just something that one is born with; those who do have it understand that it’s the result of deliberate strategy and mindset.

     

    NH Business Review presents high-performing leaders in the Granite State who will share their formulas for business and personal resilience: not just surviving but thriving.

    Thursday, March 11, 2021 | 3-5 p.m.
    Free, virtual event

    Register Today

    Meet the speakers:

    Victoria Arlen
    Founder and Co-Chair
    Victoria's Victory Foundation

    Mark Butler
    Market President

    Cigna New England

    JerriAnne Boggis
    Executive Director
    Black Heritage Trail of New Hampshire

    Stephen Duprey
    President
    Foxfire Property Management and
    The Duprey Companies

    John Broderick
    Senior Director of External Affairs

    Dartmouth-Hitchcock Health

    Resilient NH is presented by

    Cigna

    Sponsorship opportunities are available. Contact Kimberly Lencki for details.

    For additional information on the event,
    please visit nhbr.com/resilientnh

    Alternate text


  • 02/08/2021 10:47 AM | Bonnie McNair (Administrator)

    By Victor Parker on February 05, 2021

    Category: SBA News and Views

    SBA encourages black business owners to leverage the following tools to grow, expand, or recover.

    This National Black History Month, we commemorate the 100th Anniversary of the destruction of Black Wall Street where hundreds of small business dreams were deferred in the town of Greenwood, Oklahoma.  Today, Greenwood’s 1921 Commission and other small business leaders join forces to help this community rebuild and regain economic equity.  SBA also celebrates the immeasurable contributions black business owners have made to entrepreneurship in this country. From key historical figures like Madame CJ Walker to well-known innovators like Oprah Winfrey, black business owners throughout history have shaped U.S. entrepreneurship and paved the way for today’s small business owners.  

    According to the U.S. Census Bureau, there are 2.6 million black-owned businesses in the U.S. – businesses like Appddiction Studio, whose owner, Timothy Porter, was named SBA’s 2020 National Small Business Person of the Year. Timothy started his business in 2011 with help from his local Procurement Technical Assistance Center (PTAC) and has since established Appddiction as the go-to small business to support enterprise transformations for Department of Defense clients.

    Last year hit U.S. small business owners hard, and black-owned businesses were no exception. We are here to help you take stock, rebuild, and achieve your goals in 2021 and beyond. Here are some of the resources SBA has to offer:

    1. Coronavirus (COVID-19) and Disaster Assistance: If you need help offsetting the economic impact of the pandemic, consider applying for the Paycheck Protection Program (PPP) or an Economic Injury Disaster Loan (EIDL).  The PPP, which relaunched last month, is intended to help businesses keep their employees on payroll and continue paying other essential bills. You can get matched with a PPP lender via Lender Match – a free online tool that connects small businesses with SBA approved lenders. In addition, eligible businesses may apply to have their PPP loan forgiven – an especially important option for hard-hit businesses.   EIDL loans help small business owners overcome the temporary loss of revenue they are experiencing as a result of the pandemic. The application period for EIDL loans was recently extended to December 31, 2021.
       
    2. Contracting Opportunities: Did you know the federal government aims to award 23% of all federal contracting dollars to small businesses? Consider taking advantage and becoming a federal government contractor. One way to get started is through SBA’s contracting assistance programs, which help small businesses win federal contracts through mentorship and exclusive contracting opportunities. Timothy Porter, for example, has participated in SBA’s 8(a) Business Development Program. This program is geared toward small disadvantaged businesses – a group that the federal government aims to award 5% of contracting dollars to annually.
       
    3. Local Support: Whether you have a one-time business question or want ongoing mentorship, local SBA resource partners like Small Business Development Centers and Women’s Business Centers can provide the tailored guidance you need. You can meet with an SBA resource partner remotely via phone, email, or video chat for expert advice on countless business topics. The SBA network is full of experts who can point you toward local tools, resources, and connections to take your business to the next level.
       
    4. Access to Capital: We understand that funding is essential to getting your business off the ground and keeping it afloat. That’s why SBA has established funding programs like SBA-guaranteed loans. If you are creditworthy but can’t obtain a business loan with reasonable rates and terms, SBA-guaranteed loans may be a good option. SBA also offers grant programs for businesses in specialized fields, such as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which are geared toward tech-focused small businesses.
       

    We are dedicated to the success of black-owned businesses across the nation, and we look forward to celebrating you during this year’s National Black History Month.


    About the author

    Victor Parker

    Victor Parker

    Deputy Associate Administrator

    Victor Parker is Deputy Associate Administrator for the Office of Field Operations Read More


  • 02/08/2021 10:46 AM | Bonnie McNair (Administrator)
    EIDL

    Looking for more information about the Targeted EIDL Advance? Earlier this week, the SBA added a new frequently asked questions which includes information about the application process, eligibility and program criteria. 

    Learn more 


  • 02/05/2021 2:52 PM | Bonnie McNair (Administrator)
    eidl

    Targeted EIDL Advance Begins

    The Small Business Administration began rolling out the Targeted Economic Injury Disaster Loan Advance Feb. 1, which provides businesses located in low-income communities with additional funds.

    Applicants located in low-income communities who previously received an EIDL Advance for less than $10,000 will have first priority to apply for the Targeted EIDL Advance and will be the first group to receive email invites to the application portal. Those who applied for an EIDL Advance, but did not received funds due to a lack of program funding are in the second priority group.

    The SBA will reach out to those who qualify. Applicants do not need to take any action at this time. Applicants must wait until they receive an email invite from the SBA to apply for the new Targeted EIDL Advance. The SBA began sending email invites Feb. 1. It may take several weeks before all emails are sent to businesses in the first priority group. The SBA will announce a projected start date for the second priority group at a later date.

    All communications from SBA will be sent from an official government email with an @sba.gov ending. Please do not send sensitive information via email to any address that does not end in @sba.gov.

    For more information, click here.

    To read the answers to frequently asked questions, click here.



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ABOUT THE FALLS CHAMBER

The Falls Chamber of Commerce is a professional association of businesses in  the falls area.  We are the catalyst that facilitates business growth , prosperity, partnership and success for our members. 

CONTACTS

Bonnie McNair 

Executive Director

info@thefallschamber.com
603-973-0169
Office hours by appointment: PO Box 606, Somersworth NH 03878

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