The LEDA Recovery Grant Program was created by the State of New Mexico in the 2021 Legislative Session by House Bill 11 to provide $200 million in grant funding to New Mexico small businesses and nonprofit organizations that are experiencing financial hardship due to the pandemic. Applications will be accepted until June 15, 2021.
To be eligible, a business or nonprofit must have experienced a decline in revenue between comparable quarters in 2019 and 2020. The entity must have had at least one employee as of Oct. 1, 2019, and it must pay taxes in New Mexico. Grant funds must be spent on rent, lease, or mortgage obligations, and grants are tied to the incremental rehiring of employees.
Applications will be separated into priority groups after the application period closes, and funding is expected to commence in July. Grants will be made on a hardship basis, with the most severley impacted businesses receiving priority. Everyone who applies will get an equal chance within their priority group, no matter when they complete the application within the designated time period, subject to depletion of funds.
Read the FAQs or watch the webinar and create an account to apply online by June 15, 2021.