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
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.
Continue readingRestaurant Revitalization Grants Expected in April
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.
Continue readingIt’s Official: PPP Extended to May 31, 2021
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.
Continue readingTechnical Assistance Available to Small Communities and Urban Neighborhoods
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.
Continue readingMicro-Grant Fund Accepting Applications from Northern New Mexico Businesses
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.
Continue readingRCAC
RCAC is a financial resource for rural communities and businesses that need capital and technical assistance.
Continue readingRegional Engagement Challenge Seeks Proposals
Nonprofit organizations with an idea to help build the New Mexico technology ecosystem are invited to submit a proposal for funding support of up to $10,000 from the Feynman Center for Innovation at Los Alamos National Laboratory.
Continue readingNM Restaurants Can Take GRT Deduction Now
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.
Continue readingApplications Close Soon for Art Grant Program
The Fulcrum Fund, managed by 516 Arts in Albuquerque, is offering grants to pandemic-impacted visual artists and art spaces in New Mexico. Applications will be accepted through April 2.
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