COVID-19 Impact Fund Program

About the Program

The City of Nashua is announcing that the third round of low interest loan application under the City's COVID-19 Impact Fund Program will be available on Sunday July 18, 2021 and due by 11:59 PM EST Sunday August 1, 2021. Grants may be available. The City has established the COVID-19 Impact Fund Program to assist in the stabilization of existing small businesses and non-profits within the City that have had significant disruption caused by COVID-19. The awards are expected to be announced and in recipients’ hands by September. 

Both grants and loans will be offered depending on the entity’s eligibility and the availability of funds.

The COVID-19 Impact Fund Program must contribute to the business or non-profit’s ability to remain open, retain employees, and/or provide critical services during this public health crisis and beyond.

What is Offered?

Low interest loans with favorable repayment terms (i.e. deferred payment for up to one year) for working capital or operating costs. Loans will be up to $50,000 per entity; however, individual awards will vary on a case-by case basis. Funds will not be pooled; awards will be from only one source. The intent is to assist as many entities as possible

Guidelines

Please read the full program guidelines before applying. This document contains full eligibility requirements and terms.

How to Apply

One application has been created for the third round of the City's Impact Fund. The application will be completed online through a host (JotForm). You will attach all supporting documents to the online application. The links below will bring you to a request form; once completed, JotForm will send you an email with a unique link to complete your application. The application can be saved in sessions by clicking the “Next” or “Back” buttons on the bottom of each page (you must click a button to save work on each page). Before you begin, please review the checklist below to ensure you have the information/documents needed to submit. 

Please note that non-profits are not eligible for grants under this program. 

Information Needed to Complete Application:

Businesses:
• Tax ID/EIN 
• Average gross annual receipts 
• Personal funds invested to date
• # of employees
• # of jobs to be retained; and if they are low-moderate income jobs
• Annual income of owner (if applying for CDBG grant)
• Most recent business taxes and personal taxes for all owners with 20% or more ownership interest
• Documents to support costs requested, i.e.:
  - Mortgage/lease statement
  - Payroll roster 
  - Profit & Loss statements 

• City of Nashua Substitute W9 Form
Non-Profits:
• Tax ID/EIN
• Details of services provided: description, # and type of beneficiaries; time period for services
• Statement of financial activities 
• Organization annual budget amount
• Restricted assets & restricted revenue
• Projected operating deficit
• Most recent agency audit management letter, identifying if any findings exist 
• City of Nashua Substitute W9 Form