The application process for the state’s Small Business CARES Relief Grants begins Monday. We urge all Carlsbad businesses to complete an application as quickly as possible.
The application process will close at noon on Dec. 18. However, the New Mexico Finance Authority is dividing the allocation into batches, with the first $40 million of funding going out after just a few days. Businesses should only submit one complete application, but the earlier you can get it in, the better.
Grants will not exceed $50,000 and go toward businesses with fewer than 100 employees, with a maximum total based on employee total. For example, companies with six to 15 employees are eligible for up to a $15,000 grant.
The state has set aside 40 percent of the money for rural businesses and 60 percent for businesses located within 10 miles of Albuquerque, Rio Rancho, Santa Fe and Las Cruces. Prioritization is being given to businesses in the hospitality and leisure industries. Some funding has been set aside for impacted nonprofits.
If you have filled out previous applications for similar grants, such as for CARES 2 or PPP funding, you are still eligible for this grant funding and are encouraged to complete this new process. You will need to demonstrate majority New Mexico ownership. Please make sure that the entire application is complete before submitting. The grant may be used for regular business expenses that cannot be paid without additional assistance due to revenue losses because of the pandemic. The grant may also be used for expenses incurred due to the pandemic, such as PPE.
The state of New Mexico’s Finance Authority is handling this application process, with grants awarded as quickly as within one week. All funding is expected to go out by Dec. 24. Please let us know if we can provide any assistance in helping you complete this process.
From the office of Mayor Dale Janway