SBA Funds 16,000 RRF Awards In The First Wave Of Applications

Portsmouth NH

13 May, 2021

9:11 AM

Description

Press release from the Chamber Collaborative of Greater Portsmouth: May 12, 2021 DISCLAIMER: The following content wasn't created by, but is being shared by the Chamber Collaborative. New Hampshire District Office - May 11, 2021 SBA Funds 16,000 RRF Awards in the First Wave of Applications The Small Business Administration (SBA) announced today that the first wave of approved 16,000 Restaurant Revitalization Fund Award applications have received the American Rescue Plan funding just one week after the SBA opened for applications. See the News Release for the entire story. IRS Info on the Employee Retention Credit Get Paid Back for Keeping Employees on the Payroll Did you know that in 2021 there are bigger and better tax incentives for small businesses affected by COVID-related shutdowns and disruptions? The Biden-Harris Administration has made these benefits available NOW – these credits can hit your bottom line cash flow as soon as your next quarterly filing and are available for all four quarters of 2021. These credits may deliver cash flow for your business as soon as you claim them. You can file for this credit for every quarter of 2021 on your form 941 filing and may also receive an advance payment of a portion of the credit. If your business: • Has 500 or fewer employees; • Was at least partly closed due to a government order OR the business's revenue declined by 20% or more for any quarter this year; AND • You kept employees on the payroll: You may be eligible for 2021 employee retention tax credits of up to $28,000 per employee. And the longer you keep your employees on payroll, the more benefits you are eligible to receive. Find out more about the Biden-Harris Administration's recovery programs at TREASURY.GOV/CORONAVIRUS SBA Lending Team Presents: Pandemic Relief Options for Small Business Wednesday, May 12th at 10am SBA Lending Team from MA and NH present Open Forum Virtual Event Register Here for this FREE Event Ways to Connect with SBA New Hampshire: Website: www.sba.gov/nh Email: [email protected] Twitter: @SBA_NH Phone: 603-225-1400 SBA New Hampshire District Office 55 Pleasant Street Concord, NH 03301 Email: [email protected] Phone: (603) 225-1400 This press release was produced by the Chamber Collaborative of Greater Portsmouth. The views expressed are the author's own.