Author Archives: Admin

Soil-to-Stone Technology Proves Breakthrough With Help from NMSBA Program

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A Santa Fe company is looking to nature for solutions to crumbling roads and uranium mines that were abandoned without proper capping.

Bob Sherwin, CEO of Lithified Technologies, developed accelerated lithification technology, or LithTec™, to mimic the process by which soil turns into stone over thousands of years. LithTec™ can be used to build roads that last longer and cost much less to build and maintain than roads built with traditional methods, Sherwin said.

Road base treated with LithTec™ turns into a rock-hard, water-resistant foundation in just 24 hours. The same technology, he said, can solve serious problems associated with poorly sealed uranium mines.

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Loan Fund Reopening To Offer More Money for More Businesses

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A recent webinar provided an overview of the changes authorized by the New Mexico Legislature when it expanded and extended the Small Business Recovery Loan Fund to better help businesses experiencing financial hardship caused by the pandemic. Among the changes: More businesses are now eligible to apply for a loan, and the loans have more favorable and flexible terms. Businesses that received a Small Business Recovery Loan in 2020 will be able to refinance for a longer-term or a larger loan. 

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Government Contractors Offered Cybersecurity Training and Assistance

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Soon, contractors and subcontractors to the U.S. Department of Defense will be required to have cybersecurity certification at the level needed for the specific work in the contract. The new Cybersecurity Maturity Model Certification (CMMC) guidelines are thought to be the precursor to certification that eventually will be required across all government contracts. To help businesses prepare, the New Mexico Economic Development Department is hosting a CyberReady workshop May 12-14, 2021.

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Restaurant Revitalization Grants Expected in April

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The U.S. Small Business Administration expects to open the Restaurant Revitalization Fund in early April for applications from restaurants and bars owned by women, veterans, and socially or economically disadvantaged people. The SBA also confirmed that restaurants do NOT need to register with SAM.gov or obtain a DUNS number, as was previously reported by multiple news outlets.

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It’s Official: PPP Extended to May 31, 2021

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Businesses, nonprofit organizations, self-employed, and sole proprietors have until mid-May to apply for a first or second draw PPP loan. The program has been extended to May 31; however, because participating lenders need time to process applications, potential borrowers should apply by May 15.

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Technical Assistance Available to Small Communities and Urban Neighborhoods

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The New Mexico MainStreet program, a division of the New Mexico Economic Development Department, is accepting applications for technical and organizational assistance for new community development projects. Rural and Native American Communities with less than 15,000 in population are encouraged to apply for assistance under the Frontier & Native American Communities Program. Urban neighborhood commercial corridors in cities with a population of more than 50,000 are encouraged to apply through the Urban Neighborhood Commercial Corridor Program.

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Micro-Grant Fund Accepting Applications from Northern New Mexico Businesses

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The Regional Development Corporation, which serves the counties of Santa Fe, Sandoval, San Miguel, Mora, Los Alamos, Rio Arriba, and Taos, will begin accepting Micro-Grant applications on April 1 from small businesses in its service area. The RDC Micro-Grant Program awards grants of $500 to $2,000 on a competitive basis from businesses that have an immediate need for money to diversify, sustain or grow revenue, leverage other investments, and/or put systems in place that will lead to growth and create job opportunities.

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NM Restaurants Can Take GRT Deduction Now

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Senate Bill 1, passed by the New Mexico Legislature and signed into law by Gov. Michelle Lujan Grisham, allows New Mexico restaurants to take a Gross Receipts Tax deduction for sales of prepared food and drinks made after March 1, 2021 and before July 1, 2021. Restaurants can take the deduction immediately.

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