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.

Technical Assistance

MRCOG staff are available to assist with:

  • Reviewing grant applications
  • Locating potential funding sources for projects
  • Facilitating and hosting virtual trainings
  1. Funding Opportunities
  2. Business Resources

Funding Opportunities

Small Business + Entrepreneurial Recovery Grants

The Small Business + Entrepreneurial Grant Program is a new economic relief grant program available to local small businesses and non-profits. The $7.5 million program is funded through the American Rescue Plan Act. Applications will open August 4, 2021, for the one-time grants of $10,000 for businesses within Albuquerque city limits that have 50 employees or fewer and meet other grant criteria.

Community Navigator Program

To better reach small businesses, SBA is launching the Community Navigator Pilot Program that will strengthen outreach to underserved businesses by partnering with organizations with deep roots in their communities. This grant funding opportunity will be open to proposals from SBA resource partners, states, tribes, units of local governments, and other nonprofit organizations. Competitive grant awards will range from $1 million to $5 million for a two-year performance period. Applicants have until July 23, 2021, to submit their applications at grants.gov.

Shuttered Venue Operators Grant

This program offers grants to shuttered venues who have been impacted by the pandemic. 

Expanded and Improved Small Business Recovery Loan Fund

New Mexico Finance Authority (NMFA) has increased eligibility and flexibility of the Small Business Recovery Loan Fund. This $500 million loan fund offers loans up to $150,000 at a current interest rate of 1.625%, terms up to ten years, no payments due the first year, interest-only payments due in the second and third year, and no penalty for paying off a loan in advance.

American Rescue Plan Grants to Organizations

This program supports jobs in the arts sector, and works to keep the doors open for arts organizations. Eligible organizations for these one-time grants include, but are not limited to, nonprofit arts organizations, local arts agencies, arts service organizations, units of state or local government, federally recognized tribal communities or tribes, and a wide range of other organizations.  These funds are intended to support day-to-day business expenses/operating costs, and not specific programmatic activities. Cost share/matching funds are not required.