New Mexico Finance Authority logo 

This program is administered by the New Mexico Finance Authority.

When you are ready to apply, visit www.nmfinance.com.

ABOUT THIS PROGRAM

The Small Business CARES Relief Grant Program offers up to $50,000 in financial aid to New Mexico businesses with 100 or fewer employees that have experienced economic hardship due to the COVID-19 pandemic. In total, $100 million will be available through this program. This program is available to for-profit businesses and nonprofit organizations with 100 or fewer employees, and priority will be given to businesses in the hospitality and leisure sector. This is a grant program, not a loan - so there are no requirements for businesses to pay back any part of grant funding provided through this program. This program is administered by the New Mexico Finance AuthorityApplications for this program open on Monday, Dec. 7, at 12:00 pm and close on Friday, Dec. 18 at 12:00 pm.

BEGIN YOUR APPLICATION TODAY

ELIGIBILITY

Small Business CARES Relief Grants are available to New Mexico for-profit businesses and nonprofit organizations with 100 or fewer employees that meet one of the following requirements:

  1. Sole proprietorship owned by a New Mexico resident, or
  2. Corporations, partnerships, joint ventures, limited liability companies or limited partnerships that are at least 51% owned by one or more New Mexico residents, or
  3. Nonprofit corporation designated as a 501(c)(3), 501(C)(6) or 501(c)(8) entity, or a 501(c) organization that serves past or present members of the Armed Forces of the United States.

Eligible Costs

The grant may be used for:

  • regular expenses that cannot be paid without additional assistance due to revenue losses due to the pandemic
  • expenses incurred due to the pandemic, such as PPE or retrofitting a business to meet COVID-19 safety guidelines
  • Businesses must demonstrate actual loss

BEGIN YOUR APPLICATION TODAY

APPLICATION PROCESS

The application process will be conducted digitally. The online application process does not allow for users to save progress and return at a later point - so in order to avoid wasting time and effort, it is recommended that applicants have all relevant information and documentation in electronic form prepared before beginning the application. Below is a summary of the process you can expect:

  1. The New Mexico Finance Authority is using a third-party application system called Formstack, which applicants will access at www.nmfinance.com. The Formstack system has built-in logic to determine eligibility based upon answers provided by the applicant.
  2. NMFA is requiring applicants to have a checking account at a federally-insured financial institution
  3. Applicants selected for funding will be notified via email and will execute the documents using digital signatures
  4. Grants will be funded thereafter through direct deposit
  5. Applicants will be required to provide reports on impact, including of the status of the business and number of employees

It is recommended that applicants edit their email inbox settings to monitor for messages from @nmfa.net and @formstack.com to avoid the potential that some messages might get flagged for spam or junk.

BEGIN YOUR APPLICATION TODAY

APPLICATION CHECKLIST

Below is the information you will need to complete the application:

  • North American Industry Classification System Code (NAICS Code)
  • Business' revenues/cash receipts and expenses from April 1 - November 30, 2020. Applicants are able to provide preliminary results for November expenses.

Below is the documentation in electronic form you will need to complete the application:

  • 2019 business federal tax return
  • Copy of quarterly wage report submitted to New Mexico Department of Workforce Solutions
  • Bank information including a copy of a cancelled or voided check
  • Copy of New Mexico Driver's License or Government-Issued Identification for the "Authorized Officer" and all new Mexico resident-owners that make up at least 51% of the business ownership

BEGIN YOUR APPLICATION TODAY

    FAQs

 

ADDITIONAL RESOURCES

New Mexico Finance Authority logo 

This program is administered by the New Mexico Finance Authority.

When you are ready to apply, visit www.nmfinance.com.