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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.
Mid-Region Economic Recovery and Resiliency Plan
MRCOG is partnering with MRWM Landscape Architects, ESP, HatchForm, and RS21 to identify economic recovery and resiliency strategies for the entire MRCOG region. The goal of this project is to create economic and social resiliencies and empower local communities to withstand future threats. We are looking for participation from community and industry leaders to help us identify perceived threats, existing tools, and internal capacity of communities in our region. If you are interested in being involved in this planning process please contact Payton Showalter.
Funding Opportunities
Emergency Rural Health Care Program
This program is designed to help broaden access to COVID-19 testing and vaccines, rural health care services, and food assistance through food banks and food distribution facilities.
Rural Energy for America Program
This program provides loan financing and grant funding to both rural small businesses and agricultural producers for renewable energy systems or to make energy efficiency improvements.
Rural Business Development Grants
This program is designed to support targeted technical assistance, training, and other activities leading to the development or expansion of small and emerging private businesses in rural areas that have fewer than 50 employees and less than $1 million in gross revenues.
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.
Business Resource Organizations
https://www.sba.gov/funding-programs/disaster-assistance webpage lists various Coronavirus funding options, Coronavirus recovery information in languages other than English, guidance for businesses and employees, and local assistance.
WESST provides services to those who are 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.
SCORE provides resources for small businesses such as free mentorship, webinars, workshops, and other ongoing support.
DreamSpring helps business owners thrive through affordable loans and support. DreamSpring is a PPP lender.
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.
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.
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.
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.