COVID-19 Business Resources

Navigating resources and next steps for your business during this crisis time can be challenging. NMEDD has compiled information and important resources to help you and your business. You can also download EDD’s COVID-19 Business Finance Resources Critical First Steps or en Espanol. 

Federal Assistance: Small Business Administration (SBA)

The SBA has a mix of financial opportunities for businesses and nonprofits:

1. Paycheck Protection Program (PPP)

• Apply with a participating SBA 7a lender. See if your current lender is participating in this program.  
  • Download the complete SBA Resource Guide   

     2.  Economic Injury Disaster Loan (EIDL)                                          

• Apply directly to the SBA HERE
• Read the SBA Economic Injury Disaster Loans Fact Sheet: English, Spanish

3. Deferment of current SBA loans

• The SBA will also pay the principal and interest of new and current 7(a) loans issued prior to September 27, 2020.

4. SBA Express Bridge Loans

• Find an Express Bridge Loan Lender by connecting with your local SBA District Office.

Have questions or need help applying to these SBA programs?  The SBDC can help you navigate these programs, find lenders, and apply. Access information and locate service providers HERE. Additionally, the SBDC is hosting daily trainings on these programs HERE.

State Assistance: EDD Financial Programs

• NMEDD COVID-19 Business Loan Guarantee Loan program
  • NMEDD can guarantee a loan up to 80% of principal or a maximum of $50,000.
  • See if your lender is participating in the program or find a participating lender HERE.
  • Lender applies to the program on your behalf.  More on that process HERE.
  • Contact Johanna.nelson@state.nm.us
• LEDA 0% Interest Loans through NMEDD
  • Company must be a qualified entity (manufacturer, non-retail service business with more than 50% of revenue generated out of state)
  • Limited to expenditures for land, building and infrastructure; can be used for lease abatement or mortgage assistance
  • All loans will be required to provide security equal to the amount of the loan
  • Contact your NMEDD Regional Rep.

Additional State Assistance Programs

The NM Small Business Investment Council has identified several partners offering loan programs.

If you are a larger organization which employs more than 40 employees, you may be eligible for the New Mexico Recovery Fund.

Grant Opportunities

• The Grant Plant Inc. COVID-19 Emergency Grants
• All Together NM Fund
• NM Grant Makers Association
• GrantStation Searchable Database of COVID-19 Related Grant Opportunities
  
  

 

EDD COVID-19 Response Webinars

All webinars are available on YouTube .

You can also find links to COVID-19 related webinars from New Mexico MainStreet.

Economic Recovery for Child Care Facilities
MAY 12, 2020

Roundtable Discussion with Congressman Ben Ray Lujan
With Agriculture Secretary Jeff Witte and Cabinet Secretary Alicia J. Keyes
FRIDAY, MAY 1, 2020, 3:30 PM

• Congressman Lujan discusses the latest COVID-19 CARES legislation that just passed 
• Secretary Witte provided information about resources available through NMDA and USDA for the agricultural industry

Update on Federal Lending Programs

Información Actualizada de Programas de Prestamos para les Empresas Paqueñas
FRIDAY, APRIL 24, 2020

NMEDD Webinar: Introduction to Government Contracting
THU, APRIL 23, 2020, 11 AM

• Stephen Hogan, Procurement Adviser with the NM Procurement Technical Assistance Center (PTAC) will walk businesses through the basics of government contracting.
• Roxanne Rivera-Wiest, CEO of Government Business Technology Consultants LLC. (GovBizTech) will present the different types of small business certifications to include 8(a), Woman-owned, Veteran owned and HUBZone certification. She will also talk about Opportunity Zones.

Round-table Discussion with US Senator Tom Udall
MON, APR 20, 2020

• Senator Udall addresses questions and gives an overview of money going to federal agencies and how the money will flow to N.M., the crafting of the expansion of the CARES Act (including PPP and EIDL), the Mainstreet Lending Program, how federal funding will be available for communities, and the next steps for Congress.

Update on Community & Economic Development Resources
MON, APR 13, 2020

• Review of state and federal programs available to communities with a focus on programs which support community development, local businesses, and entrepreneurs includingfunding sources from USDA, HUD - CDBG

Dep. Sec. Jon Clark Radio Interview on KRZA.org

Update on Business Resources
FRI, APR 3, 2020

• Finance experts for the state are joined by officials from the U.S. Small Business Administration, the N.M. Small Business Development Center, the Department of Workforce Solutions, representatives from the federal delegation, and staff from the Office of Gov. Michelle Lujan Grisham.

NMEDD COVID-19 Business Loan Guarantee: Program Updates for Lenders
MON, MAR 30, 2020

• This webinar provides recent updates to the Business Loan Guarantee Program.

NMEDD Business Loan Guarantee Program Info Session
TUE, MAR 17, 2020

• The New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19.

Information and Resources for Businesses
FRI, MAR 13, 2020

• Discussion around resources available to businesses from the Small Business Administration, the Department of Workforce Solutions, Department of Health and staff from the Office of Gov. Michelle Lujan Grisham.

Upcoming Webinars

NMFA Overview of New Programs
WED, MAY 27, 2020, 10 AM

Perfect Time for Building and Site Improvements
Thu, May 28, 2020 2:15 PM

Next Steps and Lessons Learned: Building a MainStreet Small-Business and Community Development Recovery Strategy
Thu, Jun 4, 2020 2:15 PM