NH Delegation Applauds $2.5 Million Heading to NH Community Development Finance Authority through SBA Community Program

(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) was awarded $2.5 million. The 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 boost economic recovery. Senator Shaheen wrote a letter in support of the NHCDFA’s application, which is available here.

“The financial fallout from the pandemic 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 that’s precisely what the Community Navigator Pilot Program does,” said Senator Shaheen. “I’m so pleased that New Hampshire’s Community Development Finance Authority has been selected to receive $2.5 million to continue its important work on the frontlines delivering aid to struggling businesses. I’m committed to securing the resources our business community needs to drive our economic recovery across the Granite State.”

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

“Granite State small businesses are the corner stone of the New Hampshire economy, and I am thrilled to see the Community Development Finance Authority receive $2.5 Million in federal funding to bolster their work to provide services to small businesses in our state.” said Rep. Kuster. “I was proud to help 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 and thrive.”

“This grant funding will provide critical support to New Hampshire’s Main Street businesses as we continue to work toward 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 confront economic challenges like improving access to affordable child care. I’m pleased these federal funds will allow them to continue assisting our business community and economic development efforts across New Hampshire.”

“The Community Navigator Pilot Program provides New Hampshire a significant opportunity to better support underserved people and communities by strengthening capacity and coordination within our community economic development ecosystem. This initiative builds on years of dedicated work by small business technical assistance providers throughout the state and will have an intentional focus on reducing barriers to accessing resources. We look forward to working with the U.S. Small Business Administration and our many New Hampshire colleagues to deploy Community Navigator Pilot Program funds to support entrepreneurs across the Granite State,” said Katherine Easterly Martey, Executive Director of New Hampshire’s Community Development Finance Authority.

The SBA Community Navigator Pilot Program was designed to break down barriers and level the playing field for small businesses – targeting businesses owned by veterans, women and those from rural communities and communities of color. The program provides $100 million to 51 organizations that work with local groups to connect government resources to entrepreneurs across the country. That assistance includes access to capital and funding, contracting and procurement, marketing and business development and industry training.

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

###