In this section
Submit a question and a member from the Economic Rapid Response Task Force will be available to assist you.
**All programs can be found: newmexico.gov, in the Jobs & Economy section.
Unemployment Insurance Benefits Expanded for COVID-19
Eligibility for unemployment benefits extended to workers whose hours are reduced or who are laid off, including due to temporary business closures, because of the COVID-19 public health emergency. Under a previously announced emergency provision to the Unemployment Insurance (UI) rules, the work search requirement for affected workers has been waived for up to four weeks by the Department of Workforce Solutions. This allows employees at businesses that close temporarily to access benefits without having to search for a new position while they wait for their employers to restart operations.
Small Business Administration - Economic Injury Disaster Loans (EIDL) (federal)
New Mexico is one of the first states to be approved for the SBA’s $50 billion disaster loan assistance program. Disaster loan assistance will be available for businesses in all 33 counties. Press release issued 3/17/20.
COVID-19 Business Loan Guarantee Program
The New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for (and not limited to) the following: working capital, inventory and payroll.
Contact: Johanna Nelson, Johanna.Nelson@state.nm.us or 505.469.6204.
LEDA Zero-Percent Interest Loans
Contact: Mark Roper, Mark.Roper@state.nm.us or 575.562.0327
Personal Income and Payroll Tax Extension
New Mexicans now have an extra 90 days to file and pay their 2019 personal income taxes in recognition of the economic hardships many are facing as a result of the COVID-19 pandemic. Taxpayers will have until July 15 to file and pay any taxes due.
The deadline for 2019 corporate income taxes also will be extended until July 15. In addition, the state is extending deadlines for employers to remit withholding taxes.
For more information, please visit the Tax and Revenue Department’s fact sheet here.
Emergency Paid Sick Leave and Paid Family Leave (federal)
The Families First Coronavirus Response Act expands access to emergency paid sick leave to as many as 87 million U.S. workers, and extends paid family leave to ensure that workers can care for their children without sacrificing their paycheck. Many of these workers currently have no paid leave and are being forced to choose between their paycheck, their health, and the health of the people around them. This is a critical step toward protecting families’ financial security and mitigating the spread of the coronavirus.
Sick Leave: full-time employees are entitled to two weeks (80 hours) of fully paid time off (up to $511 per day) to self-quarantine, seek a diagnosis or preventive care, or receive treatment for COVID-19
Family Leave: Eligible full-time employees and part-time employees are entitled to 12 weeks of job-protected leave to take care for their children in the event of a school closure or their child care provider is unavailable due to COVID-19.
Full fact sheet from House Appropriations here.