Serving the High Plains
Serving the High Plains
The grant application for Small Business CARES Relief Grants for New Mexico businesses opened Monday and will close at noon Dec. 18.
The grant application and information on guidelines are available at nmfinance.com.
Eligible businesses of 100 or fewer employees include for-profit businesses that are at least 51% owned by New Mexico residents, and nonprofit organizations.
Applications will be reviewed in three funding rounds. If applications exceed available funds in a round, the applications will be prioritized based on the severity of economic effect experienced by the business.
Applications that aren’t funded in the round in which they are submitted will be rolled into the next funding round.
Special consideration will be given to industries that have been severely affected by the public health emergency, including hotels, restaurants, and other hospitality and tourism-related businesses.
New Mexico small businesses experiencing financial hardship due to the pandemic are eligible to receive up to $50,000.
The Small Business CARES Relief Grants were authorized by the State of New Mexico in the November special session and are funded by $100 million in Federal CARES stimulus funds.
“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,” New Mexico Finance Authority CEO Marquita Russel said.