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 ameyers@mrcog-nm.gov for assistance.

COVID-19 Recovery Resources

Funding Opportunities for Small Businesses

Small Business CARES Relief Grants

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.

City of Albuquerque Small Business Economic Relief Grant

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

Small Business Recovery Loan Fund

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. 

Application Link

Technical Assistance

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

  1. Reopening
  2. Local Business Organizations
  3. Communities

Resources for Reopening

  • Increasing your online presence
    • Google has created resources aimed at helping small  businesses increase their online presence.
    • Facebook for Business can help you set up online gift cards and vouchers to help support your business.
  • Guidance for reopening and following regulations