This new loan program (not grant) organized by the New Mexico Finance Authority will provide relief aid for small businesses and nonprofits in New Mexico that meet the following criteria:
- Forced to close or reduce operations because of a public health order
- Saw at least a 30% decline in revenue for April and May 2020 (as compared to the same months in 2019)
- Had revenue of less than $5 million for 2019
Loan amounts can be up to 200% of your business’s average adjusted monthly expenses from 2019 and cannot exceed $75,000. Applications are set to open August 3, 2020.
Learn more here.