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Senator Whitley Introduces SB 428-FN-A, establishing a scholarship fund for certain small businesses

Contact Name: Jessica Eskeland

Phone: (603) 568-9357

CONCORD – Today, Senator Becky Whitley (D-Hopkinton) introduced SB 428 FN-A, which seeks to establish a scholarship fund in the capital access program of the business finance authority to cover entry costs for socially and/or economically disadvantaged individual small business owners applying for loans from the program.

After the hearing, Senator Becky Whitley (D-Hopkinton) issued the following statement:

“New Hampshire small businesses are the backbone of our economy. Unfortunately, New Hampshire small businesses are often hardest hit during economic uncertainty and struggle to access financial capital and credit. This bill will enhance access to the capital assistance program run by the Business Finance Authority, which helps provide financing to small businesses across the state. This scholarship fund would cover both the 'borrower fee’ and also the ‘bank fee’ in the loan process. While all Granite Staters should have equal opportunity to earn their success, there are significant disparities in access to financial capital and credit. This bill will bridge opportunity gaps in access to financial capital and credit to ensure everyone has an opportunity to succeed and grow their business.”



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