Banks Focus Help on Small Businesses in New Hampshire

As the health, economic and social consequences of COVID-19 continue to significantly expand, we know our small business community is hurting and experiencing a disproportionate impact.  We know there are many who are already finding it challenging to make payroll and to satisfy other obligations given dramatically reduced revenues.  Banks in New Hampshire want their business customers to know they stand with them, ready to serve and to help them navigate these very difficult times. 

Kristy Merrill, President of the NH Bankers Association said, “Bankers in New Hampshire are working overtime to help businesses that are struggling right now.  Your banker may be part of the solution to help get your small business through these challenging times through various financial tools, programs or just flexibility in payment structure.  They stand ready to help you, so please contact them soon about financial challenges you may be facing as a result of COVID-19.  Your local banker lives and works in your community and has first-hand knowledge of the challenges and may be able to help.” 

Banks are ready to help with a variety of options to help keep businesses in their communities going in these times of need. Some of the options available are:

Hardship programs
Waiving certain fees
Deferring loan payments
Forbearance programs
Providing temporary credit lines
Loan modifications
Helping customers use mobile and digital banking platforms
Alerting customers to scams related to the coronavirus
Offering “safe” banking services by expanding drive-through and ATM operations

Banks in New Hampshire are well capitalized and well-positioned to assist during this public health crisis having far reaching impacts throughout the economy.  They are not only helping their customers in the bank, they are also providing support through helping local food pantries, first responders, those with food insecurities, social service agencies and more.  

To assist member banks in supporting small businesses, NH Bankers Association partners with:

Small Business Administration – Working with small businesses to help them start, grow, expand or recover.
NH Small Business Development Center - Advising and educating small to medium sized businesses.
NH Business Finance Authority – Offering a variety of easy-to-use credit enhancements and direct lending tools to help New Hampshire companies grow.