NEW MEXICO (KRQE) – New Mexico small businesses can now apply for pandemic relief money. The state has $100 million in grants for businesses impacted by the pandemic. The Small Business CARES Relief Grants was authorized by the state in the November 2020 Special Session; The last day to apply is Dec. 18.
“We encourage businesses to apply early to maximize their chances of receiving a grant. Our
website has all the information you’ll need to apply,” states New Mexico Finance Authority CEO
Marquita Russel in the same news release.
Businesses with 100 or fewer employees are eligible for up to $50,000. According to a news release from the New Mexico Finance Authority, applications will be reviewed in three funding rounds and if applications exceed available funds in a round, the applications will be prioritized based on the severity of economic impact experienced by the business.
Applications that aren’t funded in the round will be rolled into the next funding round and special consideration will be given to industries that have been severely affected by the COVID-19 pandemic, including hotels, restaurants, and other hospitality and tourism-related businesses according to the same news release.
According to the New Mexico Finance Authority website, Small Business CARES Relief Grants is available to New Mexico for-profit businesses and nonprofit organizations with 100 or fewer employees that meet one of the following requirements:
- A sole proprietorship owned by a New Mexico resident, or
- Corporations, partnerships, joint ventures, limited liability companies or limited partnerships that are at least 51% owned by one or more New Mexico residents, or
- Nonprofit corporation designated as a 501(c)(3), 501(C)(6) or 501(c)(8) entity, or a 501(c) organization that serves past or present members of the Armed Forces of the United States.
For more information or to apply, visit nmfinance.com/cares-continuity-grants/ or call 505-992-9696.
