NH Delegation Applauds $ 2.5 Million Award To NH Community Development Funding Authority Through Community SBA Program

October 30, 2021

(Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) and U.S. Representatives Annie Kuster (NH-02) and Chris Pappas (NH-01) today applauded an announcement from the Small Business Administration (SBA) that the New Hampshire Community Development Finance Authority (CDFA) received $ 2.5 million. Funding comes from the SBA Community Navigator Pilot Program, which provides funding to organizations that support small businesses and local establishments in underserved communities to stimulate economic recovery. Senator Shaheen has written a letter in support of the NHCDFA’s request, which is available here.

“The financial fallout from the pandemic has decimated New Hampshire’s small business community, with those in rural and underserved areas particularly hard hit. Empowering local entrepreneurs must be a top priority as we turn the page on this crisis, and this is precisely what the Community Navigator pilot program is doing ”, noted Senator Shaheen. “I am very pleased that the Community Development Finance Authority of New Hampshire has been selected to receive $ 2.5 million to continue their important frontline work in providing assistance to struggling businesses. I am committed to securing the resources our business community needs to stimulate our economic recovery throughout Granite State. “

“This funding in New Hampshire is a huge win for small businesses, especially those in rural and underserved communities in our state,” Senator Hassan noted. “As we work to recover from the pandemic, it is more important than ever that our small businesses and entrepreneurs get the support they need to thrive. “

“Granite State small businesses are the lifeblood of New Hampshire’s economy, and I am delighted to see the Community Development Finance Authority receive $ 2.5 million in federal funding to strengthen their work to provide services to small businesses in our state. ” said Representative Kuster. “I was proud to have helped pass the American Rescue Plan Act, which provided funding to the Small Business Administration to implement the Community Navigators program to help the small business community grow. develop and thrive. “

“This grant will provide essential support to businesses on New Hampshire’s Main Street as we continue to work for a full economic recovery,” said Rep. Pappas. “The New Hampshire Community Development Finance Authority helps businesses keep their doors open and workers find new jobs, and they also face economic challenges such as improving access to child care. affordable children. I am pleased that these federal funds will allow them to continue to help our business community and our economic development efforts throughout New Hampshire.

“The Community Navigator pilot program provides New Hampshire with an important opportunity to better support underserved people and communities by building capacity and coordination within our community economic development ecosystem. This initiative builds on years of dedicated work by technical assistance providers to small businesses statewide and will intentionally focus on reducing barriers to accessing resources. We look forward to working with the US Small Business Administration and our many colleagues in New Hampshire to deploy Community Navigator pilot program funds to support entrepreneurs throughout Granite State, ” said Katherine Easterly Martey, executive director of the Community Development Finance Authority of New Hampshire.

The SBA’s Community Navigator Pilot Program was designed to remove barriers and level the playing field for small businesses, targeting businesses owned by veterans, women, and members of rural and communities of color. The program provides $ 100 million to 51 organizations that work with local groups to link government resources to entrepreneurs across the country. This assistance includes access to capital and finance, contracting and procurement, marketing and business development, and industry training.

More information about the program can be found on the SBA website here, and the official announcement is here.

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