Large corporations have jumped on the business-resource bandwagon to offer grants that aim to help entrepreneurs launch new businesses. Grants of $20,000, $10,000, and even $5,000 can jumpstart a small business and push it into profitability if the money can be used for equipment purchases or marketing expenses. If the money comes with business mentoring, the prize is even more valuable.
Continue readingCategory Archives: New Programs, Open Opportunities and Announcements
Business Incubator Opens in Valencia County
Valencia County small businesses and startups have another resource to help them grow their businesses. The Valencia County Business Incubator (VCBI), located at 360 Rio Communities Blvd. in the City of Rio Communities, opened in August 2022 to provide consulting, mentoring, and seminars, in addition to office space and workstations.
Continue readingProtect Your IP
According to legalzoom.com, “Intellectual property rights are the ownership rights you have over things that you create as a result of your original ideas.”
As entrepreneurship has grown in New Mexico, so have the number of resources available to help innovators protect the economic value of their intellectual property.
Continue readingNMSBA Leveraged Project: Apply by Sept. 14
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.
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 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.
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