Los Alamos Reporter

Regional Development Corporation’s Micro-Grant Process Closes May 3

RDC NEWS RELEASE

RDC’s Micro-Grant Fund provides a small infusion of capital to help businesses diversify, sustain or grow revenue, leverage other investments, and put systems in place that lead to growth and create job opportunities. The RDC provides technical support and information on other funding opportunities to all applicants, regardless of whether or not funding is received.

Our goal is to sustain and assist developing businesses in Northern New Mexico with job creation and diversifying the region’s economy.

AWARD SIZE:
Up to $3,000

IMPORTANT DATES:

  • 2024 Application Process Opens: April 3, 2024
  • 2024 Application Process Closes: May 3, 2024.

ELIGIBILITY:

  • For-profit business of any type, size, or stage
  • Headquartered in either Los Alamos, Mora, Rio Arriba, San Miguel, Northern Sandoval, Santa Fe, or Taos County
  • Business license, CRS#, and a business-only bank account
  • In business at least 6 months or more from the opening date of the application process
  • Preference given to businesses located in rural areas and those not previously awarded

​REQUIREMENTS:

  • Each proposal must detail critical purchases that will advance the commercial progress of the company
  • Grant funds can be used to purchase:*
    • Needed business equipment (computers, printers, manufacturing equipment, construction equipment, restaurant equipment, point of sale (POS) system, etc) 
    • Consulting services (legal services, e-commerce site development, training, CAD design, equipment installation, etc)
    • Specialized software (must be purchased outright, subscription service not eligible)
  • Submit an application by the May 3rd deadline.
  • If awarded, have the ability to pay for funded purchases and submit paid invoices for reimbursement.
  • Complete purchases within 6 months of signed award agreement.

​​AWARD GUIDELINES:

  • Funds awarded through a competitive process
  • Applications reviewed and scored by an independent review panel
  • Funds cannot be used to cover the cost of general business expenses/operating capital such as rent, utilities, inventory, insurance, or salaries.
  • Gambling, tobacco, or illegal activities will not be funded.
  • The full or a partial amount of the total request may be awarded. 
  • Funds are not awarded upfront but as a reimbursement once purchases are completed and approved.
  • Purchases outlined in application cannot be purchased before an award is made and agreement is signed.

SELECTION PROCESS:  

  • Only proposals that meet the eligibility and proposal requirements will be evaluated.
  • Evaluation conducted by Independent review panel of local and regional business experts.
  • Evaluation criteria based on potential to create new jobs, increase or diversify revenues for the company, and leverage other investments.

HOW TO APPLY?

  • Online Application: Here
  • Sample Application: Here
    The application cannot be saved in-process for completion at a later time. Please review sample application to have your answers ready for input.
  • Detalles: Aqui
  • Solicitud en línea: Aquí
  • Ejemplo de solicitud: Aquí
    La solicitud no puede guardarse para ser completada después. Favor de revisar primero el ejemplo de solicitud para tener sus respuestas ya listas antes de ser introducidas.

QUESTIONS:
Carla Rachkowski, Director of Operations