NMFA NEWS

Applications accepted beginning Monday for $100 million in grants  

The grant application for Small Business CARES Relief Grants for New Mexico  businesses will open at noon today, Monday, Dec. 7, and will close at noon on Friday,  Dec. 18. The grant application will be available at http://www.nmfinance.comhttp://www.nmfinance.com.  

Information on the guidelines, eligibility requirements, required documents, and the application  process is available at www.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 designated as a 501(c)(3), 501(C)(6) or 501(c)(8) entity, or a 501(c) that  serves members of the U.S. Armed Forces.  

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 impact 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 2020 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,” states New Mexico Finance Authority CEO  Marquita Russel.