New Mexico businesses facing a shared challenge have until Feb. 9, 2023, to apply together for a New Mexico Small Business Assistance (NMSBA) Program leveraged projects award of up to $120,000 in national laboratory services.
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BernCo Essential-Business Grant Program Opens
For-profit and nonprofit organizations that were deemed “essential” during the pandemic and are located in Bernalillo County can apply for up to $50,000 in one-time financial support to assist in retaining workers. The money, which is part of the American Rescue Plan Act State and Local Fiscal Recovery Funds, must be dispersed to workers by awarded companies and nonprofits. (See update below.)
Continue readingTrueGrit Loan Aims to Recharge Small Businesses
The TrueGrit Growth loan, offered by the nonprofit lender DreamSpring in partnership with Wells Fargo,* provides eligible business owners continuing to recover from the pandemic with up to $10,000 to rebuild the business and position it for long-term growth. The unsecured, low-interest, fixed-rate loan offers flexible terms that are hard to beat.
Continue readingDreamSpring Helps Restaurant Launch – and Recover from Setbacks
Twenty-two years after moving to Albuquerque to attend the University of New Mexico on a basketball scholarship, Frank Willis and his sister Tiffany moved their home-based catering operation, Frank’s Famous Chicken and Waffles, to a building on San Mateo Boulevard. The siblings did so with a $1,500 starter loan from the microlender DreamSpring and business advice from their mother Lola Beavers.
The Willises moved to New Mexico from California, where Frank grew up eating his signature dish and other traditional soul food at the Los Angeles eatery Roscoe’s Chicken and Waffles. Finding no such cuisine in New Mexico, Frank and Tiffany started cooking dishes in their shared apartment and selling them via Facebook orders.
In 2019, their first restaurant moved to a larger facility at 400 Washington St. SE. “It’s a much bigger, nicer restaurant,” said Beavers, who moved to Albuquerque in 2016 after retiring from her state government job in California. “The décor is similar, in that it has a music theme with photos of musicians on the walls, but it’s a little more classy.”
Continue readingSmall Business Pros and Funding Available at All Levels
According to the U.S. Small Business Administration Office of Advocacy, the top reasons for starting a business have not changed much in the past decade. Chief among those reasons is the desire to be one’s own boss and have greater control over one’s income. New Mexico, whose businesses are predominantly small (as defined by the SBA), is fortunate to be home to so many people with a drive for personal self-determination.
Continue readingSummit Aims to Propel Innovations
The New Mexico SBIR/STTR Innovation Summit will be held virtually on December 14, 2022, from 8:30 AM to 5:30 PM MST. The Summit brings together small businesses, federal program managers, defense representatives, experts, and local organizations vested in driving innovation through the SBIR and STTR programs. The event offers opportunities for entrepreneurs to discuss their innovations with experts in one-on-one meetings.
Continue readingExpansion Has Pet Accessory Company Ready for Holiday Sales
For nearly 15 years, Amanda and Dan Jackson-Miller created custom-made designer dog collars, leashes, and other pet accessories from a 5,000-square-foot building in downtown Albuquerque. With demand outpacing their building’s storage capacity, the couple moved in early 2022 into a 9,000-square-foot building near the Albuquerque Sunport.
They did so with the help of experts from New Mexico Manufacturing Extension Partnership (New Mexico MEP), a nonprofit that helps manufacturers streamline workflow and improve competitiveness.
The Jackson-Millers met New Mexico MEP adviser Scott Bryant several years ago, when Bryant stopped by Mimi Green, which was named for a pug Amanda adopted in 2007 just as the business was launching. Bryant introduced himself and asked if the couple could use MEP’s assistance.
The entrepreneurs did some training with Bryant about five years ago, and that relationship continued through the move.
Continue readingEDD Offers Grants to Science & Technology Companies
The New Mexico Economic Development Department Office of Science and Technology is accepting applications from for-profit companies in the science and technology fields for grants of up to $25,000. Companies in aerospace, biosciences, cybersecurity, Intelligent Manufacturing, sustainable, and green energy fields are encouraged to apply by 5:00 pm MST on Monday, December 12, 2022.
Continue readingSmall Business Recovery Loan – One Month Left to Apply
The application window for the Small Business Recovery Loan Fund program is about to close. Authorized by the State of New Mexico and available through the New Mexico Finance Authority, the Small Business Recovery Loan program offers loans of up to $150,000 to businesses that were negatively impacted by the pandemic. Applications must be submitted by early- to mid-December in order for a loan to close by the program’s deadline of December 31, 2022.
Continue readingCalling All Veterans
The United States Patent and Trademark Office (USPTO) is hosting the 2022 Veteran Innovation and Entrepreneurship Program from 11:00 am to 2:00 pm (MST) on Wednesday, November 30, 2022.
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