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Regions

CARES Relief Grant Applications Now Open

News

Emergency Legislation to Provide Some Relief to Small Business

By Tierna Unruh-Enos

Small businesses in New Mexico with 100 or fewer employees that are at least 51% owned by New Mexico residents are now eligible to apply for a Small Business CARES Relief Grant through the New Mexico Finance Authority. Governor Michelle Lujan Grisham signed the emergency legislation and the grant application opened on Dec. 7th and closes on Dec. 18th. 

The grants are also available to nonprofit organizations, food banks or 501(c) entities serving members of the U.S. Armed Forces.

This grant application opened at noon Dec. 7 and closes at noon Dec. 18. The applications will be reviewed in 3 funding rounds, according to a press release by the Governor’s office. The funding agent told applicants that they would be notified within 2 weeks of application. 

The emergency grants can provide New Mexico small businesses that are struggling because of the pandemic with up to $50,000. The funding comes from the federal CARES Act stimulus funds and must be spent by the state by Dec. 28 of this year. The New Mexico Legislature allocated $100 million of those funds for small business relief grants during the November special session.

Lujan Grisham said businesses like hotels, restaurants, and other hospitality and tourism-related businesses will receive special consideration because those industries have been severely affected by the pandemic.