The New Mexico Small Business Assistance (NMSBA) program at Los Alamos and Sandia national laboratories is soliciting proposals for leveraged projects. The deadline for submission is September 14, 2022. The program does not provide capital or financial investment, however, awarded businesses receive monetary value of up to $120,000 in the form of technical assistance from laboratory engineers, scientists, or their community partners.
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WESST Helps Hobbyists Become Business Owners
According to Brad Crowson, a former regional program coordinator at WESST, more than 70 percent of business registrations in Rio Rancho are for home-based businesses. Crowson, who worked one-on-one with new and aspiring small-business owners as a consultant for the nonprofit business development organization, believes the home-based business trend is supported by the widespread availability of high-speed internet, among other factors.
“It’s also, in most cases, fairly low-risk financially and offers significant upside potential for both personal fulfillment and income generation — not to mention terrific tax benefits if structured properly,” Crowson said in a recent WESST blog post.
Many people engage in home-based hobby activities that turn into a source of income; however, to claim tax benefits referred to by Crowson, individuals must demonstrate to the Internal Revenue Service that their activities are intended to make a profit.
Continue readingShort-Term 0% Interest Loan For Contractors
The nonprofit lender DreamSpring has introduced a new loan product to help contractors move projects ahead despite rising costs. The Fast Forward loan, which provides short-term financing for 1-3 months at 0% interest, is specifically for contractors, service providers, project-based businesses, and construction industry businesses. Funds can be used for working capital to complete projects or get new initiatives off the ground.
Continue readingGrants Available to Businesses Impacted by Wildfire
The Wildfire Business Assistance Grant Program provides emergency assistance to business owners and self-employed individuals whose businesses were physically damaged or saw reduced revenue due to recent wildfires. The $1.5 million temporary grant program offers support when federal assistance falls short.
Continue readingLow-Interest Recovery Loans Still Available
Businesses that were impacted by the COVID-19 pandemic still have access to a few recovery loan programs designed to propel companies toward growth by offering low interest rates and deferred payments. These loans are even more attractive as interest rates on traditional loans increase.
Continue readingTech Startup Gets Help From New Mexico MEP
Microscopic examination of metals can help airplane manufacturers know that the planes they build can withstand the forces involved in flight and could assure airlines that jet engine maintenance would detect problems before takeoff.
A small woman-owned business based in Albuquerque is commercializing a laser optical technology that has the potential to revolutionize this “failure analysis” procedure — not just for airplane parts but also for prosthetics, wind turbine blades and any product or component made of non-cubic metals such as titanium, magnesium, and zirconium. The technology is also effective on fiber composites and plastics.
Advanced Optical Technologies’ CrystalView crystallographic polarization-classification imaging (CPCI) technology can characterize the strength of metals in a fraction of the time that’s currently required—and can do it in a nondestructive way, without cutting small samples and inserting them in a stationary scanning electron microscope.
Continue readingLab Assistance Program Extended
The Technology Readiness Gross Receipts (TRGR) initiative, launched in 2020, has been extended from a three-year pilot to a full five-year program by the New Mexico Legislature, giving businesses another opportunity to tap into the expertise of New Mexico’s national laboratories.
Continue readingNew Program Offers Loans to Cannabis Businesses
Until cannabis is legalized by the U.S. federal government, cannabis businesses have limited banking and loan options. But access to capital in New Mexico has improved since legislators authorized the New Mexico Finance Authority to offer microloans of up to $250,000 to small businesses engaged in the sale or production of cannabis.
Continue readingAccelerator Pays You to Learn
Eligible participants accepted into NMSU Arrowhead Center’s Native American Sprint will get $500 to invest in their business when they complete the program.
Continue readingGrants for Tribal Businesses
The Regional Development Corporation is offering grants of up to $8,000 to businesses that are 51 percent or more owned by a Northern New Mexico tribal member to grow, diversify revenue, leverage other investments, create new jobs, and put systems in place that lead to growth.
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