COVID-19 Economic Recovery
Economic Development Project Funding and Application Assistance
Are you pursuing grant funding for an economic development project and need some assistance? We can help enhance your application or make sure your application is ready for review! Contact Augusta Meyers at firstname.lastname@example.org for assistance.
COVID-19 Recovery Resources
Funding Opportunities for Small Businesses
The application will be open from noon on December 7 through noon on December 18. The Small Business CARES Relief Grants were created by the State of New Mexico in the November 2020 Special Session to provide $100 million in grant funding to New Mexico small businesses, including for-profit entities and nonprofit organizations, that are experiencing financial hardship due to the pandemic. This is a grant opportunity, meaning these funds do not need to be paid back.
The City of Albuquerque Economic Development Department (EDD) seeks to provide financial support to local for-profit small businesses impacted by the public health emergency to reimburse the costs of business interruption caused by required restrictions. The Albuquerque City Council has appropriated $10 million of CARES Act funding for the creation of the City of Albuquerque Small Business Economic Relief Grant program. This program intends to support the economic sustainability of Albuquerque small businesses and preserve jobs.
The program will offer one-time grants up to $10,000 to qualifying small businesses to cover payroll, rent, utilities, inventory, other necessary business expenses, or other direct business losses due to destabilizing events associated with the COVID-19 pandemic.
- December 7, 2020: Grant program – OPENS
- December 11, 2020: Grant program – CLOSES
- Application Link
Enacted by the New Mexico Legislature during the June 2020 Special Session and signed into law by Governor Michelle Lujan Grisham, this program allocates $400 million in funds to provide loans to businesses that experienced financial hardship due to the public health order resulting from the COVID-19 pandemic.
Please note that this is a loan program, not a grant program.
MRCOG staff are available to assist with:
- Reviewing grant applications
- Locating potential funding sources
- Assistance adjusting local ordinances to allow for creative use of spaces to meet COVID-19 regulations, for example:
- Temporary outdoor events
- Temporary outdoor dining
- Sidewalk dining
- Facilitating and hosting virtual trainings
Resources for Reopening
- Increasing your online presence
- Guidance for reopening and following regulations
Local Business Resource Organizations
- Grow It! was created by the New Mexico Municipal League in partnership with Finance New Mexico. The project’s goal is "to stimulate private sector job development in New Mexico by putting information about business resources directly into the hands of entrepreneurs." The website lists business resources by proximity to each municipality. Many municipalities have also posted links to their business registration applications and business related ordinances on this site.
- SCORE provides resources for small businesses such as free mentorship, webinars, workshops, and other ongoing support for Bernalillo, Torrance, Valencia, and Sandoval Counties.
- The US Small Business Administration (SBA) Disaster Assistance webpage lists various Coronavirus funding options, Coronavirus recovery information in languages other than English, guidance for businesses and employees, and local assistance.
- NMEDD hosts information about recent grant and loan opportunities on their COVID-19 New Mexico Business Resources page.
- Buy for Tomorrow Today hosts a list of local businesses and provides visitors of the site the option to shop online or purchase gift cards from many local businesses.
- The Small business Development Center at CNM is hosting various webinars and trainings in response to COVID-19.
- WESST Rio Rancho provides services to Sandoval County residents interested in starting or growing a business. They offer consulting and training in a variety of topics including business finances, business technology and strategic business issues.
- The New Mexico Small Business Development Center (NMSBDC) has help for businesses impacted by the COVID-19 health emergency. NMSBDC is prepared to help businesses navigate through these uncertain times. They have counselors available and also provide trainings on new federal programs.
- Co-operative Catalyst of New Mexico serves as a resource for individuals, groups, companies, and other organizations in New Mexico that are interested in forming, converting to, or growing cooperatives. They follow a proven process to help cooperatives form, grow, and succeed. They provide training, education, and mentorship, and connect current or potential cooperatives to other resource providers, including financing.
Resources for Communities
- The National Association of City Transportation Officials (NACTO) has released a Streets for Pandemic Response and Recovery guide.
- The New Mexico Department of Health has helpful COVID-19 information and resources.
- The Regional Planning staff at MRCOG have prepared a document that contains assembled best practices and tips for facilitating outdoor dining in response to the regulations brought on by COVID-19.