Contact Info for Sandoval County Economic Development Director
A Guide to COVID-19 and Your Finances: Click Here for What You Need to Know
COVID Recovery Tools:
- NM Economic Development Department summary of resources and tools: https://gonm.biz/about-us/covid-19-response.
- Small Business Recovery Loan Fund (result of June 2020 NM Special Legislative Session): https://www.nmfinance.com/ and https://www.nmfinance.com/programs/small-business-recovery-loan-fund/.
- NM Small Business Investment Corporation Micro Loans: http://www.nmsbic.org/newspress/10-million-added-to-nmsbic-commitment/; NOTE: The SBIC partners with DreamSpring and other Community Financial Institutions on this program.
- The State of NM launched CARES Act Small Business Continuity Grants which are being administered by local governments including the City of Rio Rancho, Town of Bernalillo, Village of Corrales, Cuba, NM and Sandoval County.
Paycheck Protection Program Loan Forgiveness Application. Click here
TWO NEW LOAN PROGRAMS ARE AVAILABLE TO BUSINESSES IMPACTED BY COVID-19. Click here for info
EDD -COVID-19 Business Finance Resources. Click here to read
- All Together New Mexico COVID Safe Practices for Individuals and Employers. Click here to read
- Economic Data Reports for all 33 Counties Published. Click here to read
- FAQ's For Employers and Workers Affected by COVID-19. Click here to read
- A New Strategy for Bringing People Back to Work During COVID-19. Click here to read
- Resolution requesting New Mexico Governor to re-open businesses that meet her phased outlined. Click here to read
- State Urges Businesses to Apply For Next Round of PPP Loans. Click here to read more
- Tribal Relief COVID-19 funding. Click here to read info
- Applications Open for BizSprint Accelerator. Click here to view application and info
- Applications Open for Online Marketing Through Local Business Incubator. Click here to apply
- Disaster Relief Funding Small Businesses need to know. Click here to read pamphlet
- EDD Ramps Up Public Outreach by Providing Ongoing Webinars to Help Businesses. Click here to read more info
- SIC launches $100 million NM Recovery Fund. Click here to read details
- PNM can help you or your small business find tools to navigate COVID-19 financial help. Click here for more info
Updated 05/26/2020 - 10:25 a.m. MST
New Mexico Business Owners Helping Business Owners
How the Treasury Department is Taking Action
N.M. small businesses urged to apply quickly for federal stimulus loans
New Mexico small businesses in financial distress due to the coronavirus crisis are encouraged to apply as soon as possible for loans made available under the federal stimulus bill. Click here to read more
NM Economic Development Department provides personal service to businesses through help line
The New Mexico Economic Development Department (EDD) is assisting businesses with financing options so they can maintain operations as part of an effort by Gov. Michelle Lujan Grisham to respond aggressively to the economic dislocations caused by the unprecedented COVID-19 public health emergency. Click here to read more
COVID-19 Economic Response
Economic Rapid Response Task Force
The New Mexico Tourism Department forged a cross-agency collaborative in partnership with the Office of Governor Michelle Lujan Grisham, the Economic Development Department, and the Department of Workforce Solutions to respond to the New Mexico business community during this challenging time.
Click here to read more.
Federal CARES Act Presentation
- Small Business Owner’s Guide to the CARES Act
- Paycheck Protection Lender Information Fact Sheet
- Paycheck Protection Program-Borrower Fact Sheet
- Paycheck Program Overview
- Paycheck Protection Program Application
NMEDD COVID-19 Business Loan Guarantee
The New Mexico Economic Development Department (EDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19.
EDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000 for up to 2 years. Loan proceeds are flexible and can be used for (and not limited to) the following: working capital, inventory and payroll.
- City of Rio Rancho COVID-19 Economic Recovery Information Hub
- Regional Rio Rancho Chamber of Commerce - Resource List
PNM Good Neighbor Fund
PNM Good Neighbor Fund steps up to help pay electric bills due to reduction in household incomes from COVID-19
PNM announced it would help pay electric bills for New Mexico customers who now finds their household suddenly falls into a low-income status after their employer cut their hours or closed the doors due to COVID-19.
The PNM Good Neighbor Fund is now paying up to one-hundred-fifty dollars toward PNM electric bills for low-income families through April 30 by calling the PNM Good Neighbor Fund provider at 505-967-8045.
“People who normally do not qualify for low income assistance are suddenly finding themselves scrambling for help with their bills after the state’s stay-at-home order was implemented to slow the spread of coronavirus and businesses were faced with tough decisions that affected their employees income,” said Maddie Martinez-Vega, PNM low income program manager. “In this time of uncertainty though, New Mexicans have always risen to meet every challenge and we want people to know that they can lean on PNM when they need help.”
For more information on the PNM Good Neighbor Fund, visit PNM.com/community, or to learn more about what PNM is doing, visit PNM.com/preparedness.
PNM Resources | Local Govt. & Community Relations Mgr.
[C] 808.298.6686 [O] 505.241.2763