COVID-19 UPDATE: Resources for NH Non-Profits During the COVID-19 CrisisApr 21, 2020
The focus of much of the financial relief at the federal and state levels has been on small and medium-sized businesses, which includes nonprofits. In addition, the NH Community Development Finance Authority (“CDFA”) and the NH Charitable Foundation (“NHCF”) have developed loan and grant programs targeted directly at NH nonprofit businesses. The nonprofit sector comprises about 15% of NH’s workforce, with about 39% of them providing critically needed health and human services – the people providing direct care and services on the frontline of the COVID-19 pandemic. Virtually all of these have seen an increase in the demand for their services, stretching the resources of these nonprofits beyond their capacity.
The CDFA has established an NH Nonprofit Response Fund that will provide nonprofit organizations affected by the COVID-19 pandemic with funds for working capital, equipment and program delivery and expansion with a maximum award of $100,000. A portion of the loan may be forgiven, to be determined by the CDFA when reviewing the application. Interest rates are 0% for the first 12 months, and then 2.75% thereafter. CDFA has prioritized the funds for service providers that support vulnerable populations. Examples of potential applicants include senior services, services for persons with disabilities, services for victims of domestic violence and sexual assault, community health centers, mental health services, and food banks. Applications began on April 13 and will be accepted until all funds are expended. The CDFA website includes an online application and program guidelines.
The NHCF has established a Community Crisis Action Fund to address pain and hardship for the most vulnerable and to reduce stress on critical systems like healthcare, emergency response, childcare, and food security. To address those needs, NHCF is offering a variety of support, such as:
- Flexibility for existing grantees, such as waiving deadlines and granting blanket approval of extensions
- Immediate unrestricted grants to those serving vulnerable populations
- Accelerated payments for current grantees
- Strategic grants targeted to homeless service providers and emergency child care
The NHCF also has Express Grants and is working on an Emergency Child Care Collaborative with the Governor’s Office and the NH Department of Health & Human Services.
The NHCF website describes the various programs available to nonprofits with regard to the pandemic in greater detail.
The NH Center for Nonprofits updates its website with information relating to funding for nonprofits as well. The Center also will be offering training and has created a COVID-19 resource section on its website to serve as a place for vetted information.
If you need further assistance, please contact Connie Boyles Lane.