Starting Monday at noon, small business owners in New Mexico can apply for a grant from the $100 million that state lawmakers set aside during the special session.
Businesses majority owned by New Mexicans with 100 or fewer employees can receive up to $50,000 to help cover operating costs.
Businesses like restaurants and hotels will be prioritized.
“They asked us to give priority to in the rules that we use to operate the program to those businesses that have been hit hard by the pandemic in particular so hospitality and leisure industries in particular,” said Marquita Russel, CEO of the New Mexico Finance Authority
The state will start taking applications on Monday and applications will be accepted for 11 days.
“Grants themselves will be awarded based on the number of employees that these businesses have,” said Russel.
The money is coming from the federal CARES Act.
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