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Local Governments Awarded Funding to Assist Small Businesses
Funds will assist small businesses affected by coronavirus pandemic
SAN JUAN COUNTY, NM - Help is on the way for small businesses in San Juan County through the New Mexico Small Business Continuity Grant. The cities of Aztec, Bloomfield, and Farmington, Town of Kirtland, and San Juan County applied for and have been awarded more than $3.9 million to be distributed to small businesses that have been affected by the coronavirus pandemic.
The governmental entities will receive the Federal CARES Act funds on a reimbursement basis from the State of New Mexico out of a total of $50 million available, statewide. Business that apply, and are approved, will also receive funding on a reimbursement basis.
Businesses are eligible for funds from the governmental organization to which they are registered, on a first-come, first-serve basis and contingent upon eligibility. Businesses must hold a valid business registration or license to apply for funding and must have been in operation as of March 1, 2019. The businesses must fill out a form, provide some basic information, and meet basic criteria to be eligible. The grants will be up to $5,000 to $10,000 per business, based on the number of full-time equivalent employees currently working.
To qualify, businesses must be located in San Juan County New Mexico, Aztec, Bloomfield, Farmington, or Kirtland, have 50 or fewer full-time equivalent employees and have annual revenue of $2 million or less before the impact of the pandemic. Businesses with between one and ten employees may apply for up to $5,000 and businesses with 11 to 50 employees may apply for up to $10,000. Not-for profit organizations which meet the criteria may also apply. Grant funds must be spent on eligible “Business Continuity” and/or “Business Redesign” expenses.
Business Continuity Grant Funding may be spent on non-owner employee payroll, rent, scheduled mortgage payments, insurance, utilities, marketing, and other fixed expenses related to the operation of the business.
Business Redesign Grant Funding may be spent on items such as installing plexiglass barriers, purchasing web-conferencing, or other technology to facilitate work-at-home, personal protection equipment for employee, reconfiguring physical spaces, or adding temporary structures to meet All Together New Mexico COVID-Safe guidelines.
Grantees will be required to submit receipts for expenditures to receive reimbursement under these grants. Expenditures can be incurred anytime from March 1, 2020, to December 30, 2020, based on CARES Act requirements and Coronavirus Relief Fund Guidelines.
For information about the grant process, including dates that applications will be accepted, please contact the individual entity.
San Juan County: www.SJCounty.net/BizGrant