NH response fund to offer loans to nonprofits

CONCORD — Sister banks Meredith Village Savings Bank, Merrimack County Savings Bank and Savings Bank of Walpole are the first three banks to contribute to the New Hampshire Nonprofit Response Fund with a combined tax credit purchase of $150,000. The NH Response Fund is providing nonprofit organizations with resources of up to $100,000 for working capital, equipment purchases and programming expenses.

Supported by donations from businesses in exchange for tax credits and flexible loan funds from the Community Development Finance Authority and the Business Finance Authority, the NH Nonprofit Response Fund is providing resources to qualifying community-based organizations on the front lines of the COVID-19 outbreak. Nonprofits supporting vulnerable individuals directly impacted will also qualify. Rick Wyman, president of MVSB, was appointed in 2018 by Gov. Chris Sununu to the board of directors for CDFA, and knew the program was a fit for the community-based approach of MVSB and their sister banks.

The CDFA and BFA will administer the loans, including deferred loans, to qualified nonprofits. Applications will be accepted starting on Monday, April 13. For a copy of the application, visit resources.nhcdfa.org/programs/nh-nonprofit-response-fund.

“It’s wonderful to be able to count on our community banks for providing such timely corporate leadership. Their contributions ensure New Hampshire’s vulnerable populations continue receiving the assistance they need. Our organizations have thrived for as long as we have because donors feel good knowing their money is used wisely, responsibly and for maximum impact,” said Katherine Easterly Marty, executive director of CDFA.

“The New Hampshire Nonprofit Response Fund will provide a significant benefit to New Hampshire communities. The response fund will be able to prioritize the most immediate public health needs and economic impacts by focusing on service providers that support underserved populations,” said Wyman.

For more information about CDFA, visit nhcdfa.org. For more information about BFA, visit nhbfa.com. To learn more about Meredith Village Savings Bank, call 800-922-6872 or visit mvsb.com. To learn more about Merrimack County Savings Bank, call 800-541-0006 or visit themerrimack.com. For more information about Savings Bank of Walpole, call 603-352-1822 or visit walpolebank.com.