Resources and Information
Every day, there is new information regarding the Corona Virus and COVID-19. As we continue to respond to the need for social distancing and protecting our customers and clients, we feel it’s important to continue to provide you with vital information that will help you and your business.
Please take a moment to look through the information below. We are doing our best to provide you with links and information that can be helpful.
(updated October 7th, 2020)
Coronavirus and USDA Assistance for Farmers
Expansion of the Coronavirus Food Assistance Program begins Sept. 21. Customers seeking one-on-one support with the CFAP 2 application process can call 877-508-8364 to speak directly with a USDA employee ready to offer assistance.
More information here
The Main Street Lending Program for Nonprofits
The Main Street Lending Program is designed to help credit flow to small- and medium-sized for-profit businesses and nonprofit organizations that were in sound financial condition prior to the pandemic.
More information here
EDD Staff Supports Local Business and Community Development
SANTA FE, N.M. –The Economic Development Department has a complete network of economic development experts around the state that are uniquely qualified to assist local governments and community organizations as New Mexico works toward a sustainable recovery.
Economic Development Cabinet Secretary Alicia J. Keyes said the Community, Business & Rural Development program was created by the Legislature to provide the EDD with an expert assigned to each regional economic planning district. When first created, each regional representative had an office in Santa Fe.
Today, there are six Community, Business & Rural Development employees at EDD, working full-time throughout the state. They are known as regional representatives, and are located statewide, with EDD staffers living in Las Cruces, Roswell, Mora, Albuquerque, Bernalillo, and Santa Fe. They assist businesses and communities in a broad variety of economic development needs, providing local support and knowledge within their designated regions.
“The regional reps are EDD’s boots-on-the-ground in all corners of the state,” Cabinet Secretary Keyes said. “They know their communities, they are trusted in their communities, and they are an especially important resource to businesses and local organizations during the health emergency, helping to provide information and assistance as we move forward.”
The team specializes in areas such as passing and using the Local Economic Development Act (LEDA) which primarily provides brick and mortar funding for job creation; community infrastructure financing assisted by FUNDIT; starting and maintaining Business Retention & Expansion (BRE) programs; workforce training through the Job Training Incentive Program (JTIP); the LEADS grant program, which funds projects with quick impacts; assisting communities in locating new companies with the support of the New Mexico Partnership; help resolving state regulatory issues; and improving access to other EDD programs such as MainStreet, Arts & Cultural Districts, and the Frontier & Native American Communities Initiative.
The EDD recently reconfigured some of the program’s regional boundaries and has just become fully staffed, replacing a newly retired representative in Las Cruces.
Louise Marquez covers Catron, Doña Ana, Grant, Hidalgo, Luna, Sierra, and Socorro Counties. She is the newest member of the team, but not to working in service of her community. “I’ve been in community and economic development since 2005. I am very passionate about economic development, because I know that economic developers help real people realize lifelong goals and dreams. I consider myself very blessed to be able to do this work.”
FSMB Foundation COVID-19 State Response Grants
FSMB Foundation COVID-19 Grants are designed to offer state medical and osteopathic boards and other health care organizations funding support for the study of state responses to the COVID-19 pandemic. The long-term goal of the program is to support the development and implementation of sustainable models and policies that can guide state preparedness and responses to similar emergencies in the future, as well as their capacity for recovery planning.
More information can be found here
FEMA Lost Wages Grants
Federal Emergency Management Agency (FEMA) Lost Wages Grants, funded through the Disaster Relief Fund (DRF), are available to states to provide financial assistance to individuals who have lost wages due to the COVID-19. New Mexico is among the first few states to be eligible for these grants.
More information here
NM Safe Certified Training
NM Safe Certified provides businesses with an on-demand virtual COVID-Safe Training Program to help ensure all New Mexicans remain safe as the state reopens for business and recreation. NM Safe Certified provides a recognizable brand across all industries to assist in building consumer confidence.
More information here
LISC Small Business Relief Grants
Business Relief Grants support small businesses and enterprises affected the Covid-19 across the country, especially in underserved communities, including entrepreneurs of color, and women- and veteran-owned businesses that often lack access to flexible, affordable capital.
More information here
Small Business Recovery Act Loans Frequently Asked Questions
Now open: Small Business Recovery Loan Fund
Grassroots Exchange Fund
In response to the COVID-19 pandemic, the The Grassroots Exchange Fund is supporting community organizations that need to adjust their networking, collaboration, or organizing strategies. Examples include online meeting or organizing technology and training, language translation and interpretation, emergency stipends for organizers and grassroots leaders, and PPE (personal protective equipment) or other supplies to enable safer in-person meetings, etc. Requests will be reviewed twice monthly through November 2020.
Learn More here
COVID Relief Resources
The covidcap.com database contains over 1,400 listings totaling over $1 trillion in grants, debt, and other cash equivalents. Now also includes listings for non-financial support for entrepreneurs.
More information here.
Coronavirus Relief Fund (CRF) Q&A
Common questions and answers from the Federal Government regarding the CRF.
Learn more here
Wells Fargo Open for Business Fund
Wells Fargo is donating approximately $400 million in Paycheck Protection Program processing fees through a new program to support small businesses owned by people who have been hit hardest by COVID-19. The fund is open to nonprofits who serve businesses owned by racially and ethnically underrepresented individuals and nonprofits that focus on lending to these businesses are eligible for the initial grant cycle.
More information here
Child Care Stabilization and Recovery Grant
The New Mexico Child Care Stabilization and Recovery Grant will provide immediate relief and support to eligible child care providers across New Mexico. The grants will cover lost income resulting from closure, response and recovery operation costs (including enhanced cleaning and sanitation), and other expenses. Application available in English and Spanish online.
More information here
The Employee Retention Credit
The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. Also, if the employer’s employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS.
More information here
GameAbove Capital
GameAbove Capital is a new $50 million private venture fund focused on minority and women-operated businesses engaged in sustainability-related products and services.This gap-closing fund is being launched to provide further stability for companies impacted by coronavirus and to add further value to enterprises successfully engaged in environmental solutions and sustainability.
More information here
EIDL Loans Open for Applications
The SBA is still accepting new Economic Injury Disaster Loan (EIDL) applications to qualified small businesses and agricultural businesses.
Applications previously submitted will continue to be processed on a first-come, first-served basis.
More information here
Small Business Administration Assistance
For information on PPP and all the SBA loan programs go to SBA.GOV
For information on the state assistance, including the COVID-19 Loan Guarantee Program and the No-interest LEDA loan program, go to the EDD website, GONM.BIZ
For technical help and advice on SBA programs and loan applications go to NMSBDC.org.
For a list of SBA lending partners go here.
For comprehensive information from the State of New Mexico on the COVID-19 health emergency, including data, testing, economic, and food assistance, go to NEWMEXICO.GOV
SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic
No-Interest LEDA Loans Approved For New Mexico Businesses
Program Helps Support Jobs Through COVID-19 Emergency
All Hands, New Mexico:
(Albuquerque, NM) – As the state continues its efforts for economic recovery from the COVID-19 pandemic, the New Mexico Department of Workforce Solutions (NMDWS) and New Mexico Workforce Connection Centers (NMWC) are here to help businesses quickly fill their vacant positions with skilled workers they can depend on through the initiative All Hands, New Mexico!
“As Governor Lujan Grisham oversees the re-opening of New Mexico’s economy safely it is important for New Mexicans to know what jobs are now available,” said NMDWS Cabinet Secretary Bill McCamley. “Getting back to work means earning a paycheck and providing needed services so that our communities stay healthy as we recover economically.”
Businesses across New Mexico who are looking to hire workers to meet a surge in demand for well-qualified workforce talent can quickly post their positions by filing out a short hiring intake form on the NMDWS website at https://www.dws.state.nm.us/
All Hands, New Mexico! is designed to connect New Mexico workers with New Mexico businesses that have urgent hiring needs. Many talented job seekers who lost their job or had hours reduced as a result of COVID-19 and are looking for their next career opportunity may register within the New Mexico Workforce Connection Online System at www.jobs.state.nm.us. Here, a job seeker can upload their resume, highlight their transferable skills, and list previous work experience that NMWC Business Representatives will utilize in their search for qualified candidates to recommend to the businesses they are assisting.
Businesses may also obtain information from NMWC on available resources to support upskilling and/or providing training to existing workers, assistance with interviewing, hosting virtual job fairs, and more. To learn more, contact the local NMWC office near you at https://www.dws.state.nm.us/
Paycheck Protection Program:
The U.S. Small Business Administration has resumed accepting PPP loan applications from approved lenders on behalf of any eligible borrower. Updated information with new eligibility criteria can be found online here.
Unemployment benefits
SELF-EMPLOYED, INDEPENDENT CONTRACTORS, AND GIG ECONOMY WORKERS ANNOUNCEMENT: The application for Pandemic Unemployment Assistance (PUA) is now available. The link “Apply for PUA Benefits” will appear in the left navigation on your Unemployment Insurance claim homepage only if you have completed step 1 (applying for regular state Unemployment Insurance) and were deemed ineligible on your “Monetary Determination.”
More info in FAQs at https://www.dws.state.nm.us/COVID-19-Info
Buy Today for Tomorrow!
Resources for Businesses Impacted by COVID-19
N.M. Small Businesses Urged to Apply Quickly for Federal Stimulus Loans. New Mexico small businesses in financial distress due to the coronavirus crisis are encouraged to apply as soon as possible for loans made available under the federal stimulus bill.
Economic Injury Disaster Loan Program
SBA’s Small Business Development Centers
Paycheck Protection Program
Federal Resources for Small Businesses
This includes the CARES act, assistance for paycheck protection, the Economic Injury Disaster Loan program, funding for Small Business Development Centers, the Main Street Lending Program, and the Small Business Lending Fund. More information is found here.