NH loan fund to get $557K to help small businesses

CONCORD (AP) - A total of $557,000 is going to the New Hampshire Community Loan Fund to support small businesses and promote economic growth in communities amid the pandemic, the state's congressional delegation said Tuesday.

"As the economic fallout spurred by this pandemic worsens, it is essential that New Hampshire businesses have the support they need to survive this crisis," U.S. Sen. Jeanne Shaheen, a Democrat, said in a statement.

U.S. Sen. Maggie Hassan, a Democrat, said the fund "is providing critical financial support to communities in need, including to support affordable housing."

The award was allocated by the U.S. Treasury Department's Community Development Financial Institutions Fund, which enables organizations like the New Hampshire Community Loan Fund to increase lending and investment activity in low-income and economically distressed communities.