“One of the best-kept secrets*” in the business resource arena is getting better. The Procurement Technical Assistance Program (along with its PTACs – Procurement Technical Assistance Centers) is changing its name to the APEX Accelerator program as it redefines its vision and mission. The program offers assistance to small businesses interested in selling their goods or services to the government, educational institutions, and Tribal entities. The change will help the program increase and improve its program offerings, said Therese Rivera, Program Manager of New Mexico APEX Accelerator.
Continue readingCategory Archives: New Programs, Open Opportunities and Announcements
State Lowers GRT Again
The New Mexico gross receipts tax rate will decrease by .125 percent effective July 1, 2023. This is the second decrease enabled by legislation passed in 2022, and it affects every business and purchaser in the state. Often thought of as a sales tax, GRT is slightly different because it applies to the sale of services, as well as tangible items.
Continue readingOERF Offers Low-Interest Loans for Building and Renovation Projects
The Opportunity Enterprise Revolving Fund offers low-cost financing for purchasing, planning, designing, building, surveying, improving, operating, furnishing, equipping, or maintaining land, buildings or infrastructure. Eligible businesses must be engaged in a project that increases the inventory of commercial space in New Mexico while creating or expanding economic opportunity in the state.
Continue readingFranchise Model Offers Benefits
The Paleta Bar, a retail store specializing in “fresh gourmet Mexican pops,” started in a small strip mall in Albuquerque. Several years later it boasts 33 stores selling Mexican ice pops in 7 states. The company’s rapid growth can be traced to an aggressive plan to open its own stores in addition to selling franchises — stores owned by others that use the company’s name and retail business model.
Continue readingRCAC Still Offering Pandemic Assistance
Small businesses that continue to recover from the pandemic still have relief options. Among them is the RELieF loan offered by Rural Community Assistance Corporation (RCAC) which provides up to $25,000 to help eligible rural businesses in New Mexico emerge from the pandemic.
Continue readingGovt. Contracting as Path to Increased Revenue
Business owners curious about growing their businesses through government contracting can attend one or more upcoming webinars, workshops, and accelerator programs.
Continue readingHardship Accommodation Plan Aims to Help EIDL Borrowers
Two news organizations reported this week that the U.S. Small Business Administration (SBA) has made changes to its COVID-19 Economic Injury Disaster Loan (COVID-19 EIDL) program to help small businesses that have been unable to repay their loans.
Continue readingDreamSpring Receives More Money to Lend
The nonprofit lender DreamSpring has been awarded almost $5 million in Equitable Recovery Program grant funds from the U.S. Treasury to support small-business lending. The U.S. Treasury grant program is aimed at strengthening the ability of Community Development Financial Institutions (CDFIs) like DreamSpring to help low- and moderate-income communities recover from the COVID-19 pandemic and invest in long-term prosperity.
Continue readingAnother Grant, Another Deadline
Northern New Mexico 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 have until May 12 at 5:00 pm to submit an application for a grant of $500 to $3,000 from the Regional Development Corporation (RDC). Grants are made on a competitive basis to businesses in RDC’s service area, which is defined as the counties of Santa Fe, Sandoval, San Miguel, Mora, Los Alamos, Rio Arriba, and Taos.
Continue readingHFFF Will Award Grants to Food Businesses
The Healthy Food Financing Fund (HFFF) is a new grant-based program that offers between $20,000 and $100,000 to New Mexico food enterprises. A new round of application acceptance is open from October 16 until November 13, 2023.
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