COVID-19 Financial Assistance to help businesses through the pandemic recovery…
Please see recent announcements for information about new opportunities unrelated to the pandemic.
For information about pandemic-related grant programs, scroll to the bottom of this page. Please note that many pandemic grants and loan programs have expired.
FEDERAL LOAN RESOURCES
SBA Economic Injury Disaster Loan The COVID EIDL program ceased accepting applications on December 31, 2021, however, the disaster EIDL program continues to be available to businesses impacted by other publicly declared disasters.
NEW MEXICO LOAN RESOURCES
Enhanced Existing Loan Programs aim to meet the needs presented by the pandemic and recovery. The New Mexico Small Business Investment Corporation committed an additional $35 million at low interest rates to assist small businesses impacted by COVID-19. (Also see our Capital page for ongoing loan, grant, and equity programs.) Emergency business loans, some of which have been designed specifically for pandemic recovery, are available through these NMSBIC nonprofit lending partners:
- The Loan Fund
- DreamSpring
- LiftFund
- Homewise (in designated areas)
- RCAC (in rural areas of New Mexico)
- WESST
Small Business Recovery Loan Fund provides low-interest loans to eligible COVID-impacted businesses. Interest is set at one-half of prime rate, and terms allow for deferred payments and no penalty for paying off a loan in advance. Businesses that received a Small Business Recovery Loan in 2020 are eligible to reapply for additional funds or to update their current loan to take advantage of the new terms. The deadline to apply is December 31, 2022. Read the criteria and terms, and apply here.
REGIONAL LOAN RESOURCES
Working Now Revolving Loan Fund offers loans from the North Central New Mexico Economic Development District using funds provided by a grant from the U.S. Economic Development Administration. These are small loans of up to $10,000 aimed at businesses that are affected by the pandemic and are located in the counties of Colfax, Los Alamos, Mora, Rio Arriba, San Miguel, Santa Fe, or Taos. Interest is deferred for 6-months, and loans are secured by a personal guarantee rather than collateral. Apply through the NCNMEDD.
EMERGENCY GRANTS
Previously annonced pandemic-related grants have expired. New programs will be added here when they become available.