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NH BFA to Oversee NH GAP Fund

Published Monday Jul 20, 2020

NH BFA to Oversee NH GAP Fund

The New Hampshire Business Finance Authority (NH BFA) will administer funding for New Hampshire businesses and non-profits that may have “fallen through the cracks” and were unable to qualify for funding through the state’s Main Street Relief Fund, the Non-Profit Emergency Relief Fund, or the Self Employed Livelihood Fund.

“We are committed to helping our state’s businesses and non-profits survive this global threat,” stated James Key-Wallace, executive director of the NH BFA. “We are proud to be working with the Governor’s office and other state agencies to coordinate this GAP Fund. We understand timing is critical and we are working diligently provide essential support to New Hampshire companies that need our assistance during this difficult time.”

Businesses and non-profits that believe they may be eligible are encouraged to participate in one of two upcoming, live, free webinars that will address the application process and offer feedback on what they will need to provide in order to qualify for these relief funds. The application period for this GAP Fund will run from July 21 to August 4, 2020. 

Instructional webinars to review the GAP Fund application process and are highly recommended to any prospective applicant and available on the following dates to register:

To Apply:

For Profit Businesses and Nonprofit Organizations must apply online https://www.goferr.nh.gov/covid-expenditures/new-hampshire-gap-fund.

Businesses and nonprofit organizations that require assistance with their application submission may email info@nhbfa.com and will be contacted by the New Hampshire Business Finance Authority Staff shortly thereafter.

For-Profit Businesses that may qualify must:

  • Be a for-profit business
  • If a franchise, be a single-unit franchise
  • Have at least one (1) non-owner employee
  • Have its principal place of business in New Hampshire
  • Have been in operation for at least one year prior to May 29, 2020
  • Not currently be in bankruptcy
  • Not have permanently ceased operations
  • Be in Good Standing with the New Hampshire Secretary of State
  • Demonstrate a quantifiable financial impact on their business due to the COVID-19 pandemic

Nonprofit organizations that may qualify must:

  • Be a nonprofit organization that is not a 501c(3) or 501c(6)
  • Have its principal place of operations in New Hampshire
  • Conduct charitable activities
  • File an annual report with the Attorney General’s Charitable Trusts Unit
  • Have a primary purpose that is not lobbying and/or legislative advocacy
  • Not currently be in bankruptcy
  • Not have permanently ceased operations
  • Be in Good Standing with the New Hampshire Secretary of State
  • Demonstrate a quantifiable effect on their organization by the COVID-19 epidemic

Important Dates & Timeline

  • Application Period – July 21, 2020 – August 4, 2020
  • Application Verification Period – August 5, 2020 – August 18, 2020

The GAP Fund is only available to organizations that submit an application. Submitting an application does not guarantee that an award will be granted. All applicants will be reviewed and awards directed to areas of the highest need and impact. All applicants will receive an email informing them if their application has been approved or denied after August 18, 2020.

The GAP Fund award amounts will be determined, in part, both by the number of applicants and by the total amount of need demonstrated by the totality of all applicants.

Businesses and nonprofit organizations who received their pro-rata distribution from previously offered New Hampshire relief funds are highly unlikely to receive an award from the GAP Fund.

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