COVID-19 Assistance Loans
Through new funding made available to its partners by the New Mexico Small Business Investment Corporation (NMSBIC), additional loans and lines of credit will be extended to businesses in New Mexico that have been impacted by COVID-19.
Other benefits provided by this funding include education and access to capital. More information is provided on the New Mexico state web announcement. Note that support is made only through NMSBIC’s partners, so you should not contact NMSBIC directly. To find appropriate funding support for specific business needs, contact one of the organizations listed in the announcement.
A more extended summary of the paycheck protection provision, which allows employers to retain and pay employees, is available on the NM Economic Development Department coronavirus web page. Note that this provision applies to businesses that continue to pay employees even if those employees are unable to perform work due to the COVID-19 outbreak. Download the detailed summary in PDF format here.
- Small Business Administration: Disaster Loan Program
- Small Business Administration: Paycheck Protection Program
- Development Block Grant Assistance
- New Mexico Recovery Fund
- Regional Development Corporation
- NM Economic Development Department
- NM Economic Development Business Assistance (April 3 Webinar)
- Support for Forming Co-ops in NM
- NMSL Business Resources in NM
- USDA Grant FAQ
- NM EDD “Buy NM Today For Tomorrow” Program
- The US Chamber of Commerce Foundation has developed a new small business grant program specifically for individuals with 3-20 employees in an “Economically Vulnerable Community” as determined by zip code. Business owners can apply for grants of up to $5,000. Visit their website for additional information about the program.
- Grow It! NM – Grow It! is an economic development initiative created by the New Mexico Municipal League in partnership with Finance New Mexico. The project’s goal is to stimulate private sector job development in New Mexico by putting information about business resources directly into the hands of entrepreneurs. Too many small-town entrepreneurs are unaware of federal, state and local business-assistance programs that might help them start ventures that provide jobs and tax revenue. The Grow It! project aims to draw business owners and entrepreneurs into the system of free and low-cost services that can help businesses grow.