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.
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Low-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 readingRecovery Fund Fills Void Left by Expired PPP
New Mexico’s Small Business Recovery Loan Fund offers up to $150,000 with low interest to pandemic-impacted businesses. The fund was created to assist New Mexico businesses unable to access any or enough Paycheck Protection Program (PPP) funds, and it continues to fill that void now that the PPP has expired. The loan program is open to applicants until December 31, 2022.
Continue readingRecovery Grant Program Coming to an End
The New Mexico Finance Authority, which manages the state’s Small Business Recovery Grant program, is accepting applications until December 7, 2021.
The pandemic recovery grant program was authorized by the New Mexico Legislature in the 2021 regular session to assist businesses that suffered financial hardship during the pandemic. Grants are tied to job creation, and funds must be used as reimbursements of rent, lease or mortgage payments.
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