Coronavirus New Mexico Business Resources | COVID-19

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 Paycheck Protection Program stopped accepting applications on June 30, 2020. 

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)                                          

• EIDL Reopened, June 15, 2020
• 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
• Hello Alice COVID-19 Emergency Grants
• Empowering Women - The Red Backpack Fund
• LISC Small Business Relief Grants