The Loan Fund, an award-winning nonprofit organization that provides loans and consulting to small businesses, entrepreneurs, and nonprofit organizations across New Mexico, said today it provided funding for 121 new loans in 2020. Minorities and women-owned businesses made up the overwhelming majority of the year’s loans, which created 189 new jobs and preserved 589 existing jobs in the state.
Continue readingCategory Archives: New Programs, Open Opportunities and Announcements
Attn: Hobbs Businesses! WESST Opens Local Business Center
WESST, a nonprofit economic development organization that provides business training, consulting and loans to small business, opened a new location in Hobbs. Business consultant and trainer Mara Salcido is now serving clients from inside the Hobbs Hispano Chamber of Commerce at 113 N. Shipp Street.
Continue readingNMSBA Program Opens Call For Leveraged Projects
The New Mexico Small Business Assistance (NMSBA) program at Los Alamos and Sandia national laboratories is currently soliciting proposals for leveraged projects for the calendar year 2021. The deadline for submission is February 16, 2021. The program does not provide capital or financial investment, however, awarded businesses receive monetary value in the form of technical assistance.
Continue readingSBA to Open New PPP on Jan. 11, 2021
The SBA announced this morning (Jan. 8) that it will open the PPP application process for new borrowers and certain existing borrowers the week of January 11. The loan program was reauthorized under the Economic Aid Act passed by the U.S. Congress and signed into law in December 2020.
Continue readingEconomic Aid Act Expands PPP and Other Financial Assistance
Pandemic-impacted businesses that did not apply in 2020 for a loan through the Payroll Protection Program (PPP) will be able to apply for forgivable loans until March 31, 2021. PPP loans of up to $2 million are available to eligible businesses , 501(c)(6) nonprofits, housing cooperatives and local news media organizations under the Economic Aid Act that was passed by the U.S. Congress and signed into law in December 2020.
Continue readingWESST Begins Distribution of PPE to Local Businesses
Nonprofit business development organization WESST is collaborating with the City of Albuquerque to distribute personal protective equipment to Albuquerque businesses beginning January 4, 2021. Qualifying businesses must have 50 or fewer employees.
Continue readingValue-Added Producer Grant (VAPG) Program Reopens
USDA Rural Development has announced it is accepting applications for grants of up to $250,000 under the Value-Added Producer Grant program. VAPG helps agricultural producers and related businesses enter into value-added activities related to the processing and marketing of new products.
Continue readingLooking for more grants?
The New Mexico Economic Development Department sends a weekly email containing a wide range of capital sources and opportunities, many of which are narrow in scope. If you are a community planner, organizer, or leader, the list may contain something relevant to you. See the Dec. 18, 2020 list and click here for the weekly email archive and recent NM EDD webinars.
LiftFund offers loans to businesses in Southern New Mexico
LiftFund, a nonprofit Community Development Financial Institution, is now offering business assistance and loans to small businesses in the southern part of New Mexico. And last August, the microlender began a partnership with the City of Las Cruces to provide virtual workshops to help businesses through the pandemic.
Continue readingNM CARES Act grant program guidelines announced
The NM Finance Authority has announced guidelines pertaining to the Small Business CARES Act grant program that was authorized by the New Mexico Legislature during the second special session of 2020. The guidelines make clear that time is of the essence. Applications will only be accepted until 12:00 noon MST Friday, Dec. 18. The Finance Authority anticipates opening the application process the week of Dec. 7, giving it just 11 days to allocate the entire $100 million fund.
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