Rio Rancho Regional Chamber of Commerce issued the following announcement on Sept. 3.
The New Mexico Department of Finance and the Governor’s Office have released $975k in Small Business Continuity Grant funds to Sandoval County. These emergency relief funds have been set up to support the small businesses hit the hardest by the COVID-19 pandemic. Funds are available as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act federal stimulus package.
These funds can be offered as grants to their local businesses. Grant funds can only be used by pandemic-impacted businesses for eligible expenses that fall into two categories: Business Continuity (such as non-owner payroll; rent or mortgage; insurance; utilities; marketing) and Business Redesign (installing Plexiglas barriers, temporary structures, and physical space reconfiguration to mitigate the spread of the virus; purchases of PPE and web conferencing technology).
The County program is intended to help reimburse the significant, temporary loss of revenue to these qualified businesses during this pandemic, and to assist businesses in retaining and paying employees. Sandoval County has determined these payments are necessary expenditures due to the public health emergency.
The program will offer one-time grants up to $8,000 to qualifying small businesses and non- profits to cover costs such as non-owner/employee wages, vendor bills, and rent caused by required closures. Grants will first be prioritized to qualifying businesses within the unincorporated areas of Sandoval County. However, any qualifying business or non-profits physically located within Sandoval County are encouraged to apply. Funds can only be used to reimburse the costs of business interruption caused by required closures provided those costs are not paid by insurance or by another federal, state, or local program.
Regardless of whether an organization is eligible for this program, it may still qualify for other existing funding received from a separate municipality within the county. Visit the Sandoval County Economic Development webpage for a list of other federal and state programs assisting organizations impacted by the COVID-19 pandemic.
Eligibility Overview
- Maximum of $8,000 for qualifying small organizations with a physical location in Sandoval County (2-5 minimum full-time employees, or equivalent part-time employees, including the owner).
- Priority will be given to organizations that did not receive Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP) funds from the Small Business Administration’s (SBA), or small business assistance funds from the State of New Mexico or City of Albuquerque.
- Restaurants, bars, short-term lodging, and other non-essential organizations impacted by the local or state safer-at-home orders are
- Sandoval County residents who engage in 1099 (consultants/contract employment) are
- Funds must be used to reimburse costs incurred as a result of required closures, provided those costs are not paid by insurance or by any other federal, state, or local program. Such costs may include employee wages, vendors, rent, or other organization
- A physical place of business located within the boundaries of Sandoval County, New Mexico is required, including for mobile
- Organizations must receive no more than $3 million in taxable receipts [per annum].
“The work it takes to run a small business is a story of hard working people,” said Dora Dominguez, Director, Sandoval County Economic Development. “The opportunity to provide a source of emergency relief in the wake of a pandemic is a much appreciated honor. Small business owners are the backbone of our nation and local economies. As community leaders the task remains to identify all resources available to insure small business owners have access to the resources needed to insure businesses survive and succeed. As leaders, our role is not to just build businesses but to support and build people; the strength of whom then create businesses that in turn support job growth.”
The county application will go live and able to receive application beginning, September 8, 2020 for review application will be accepted through October 30, 2020 with all funds to be allocated by December 30, 2020. “We look forward to working with our local municipalities and with Sandoval County Economic Alliance (SEA) to insure the funds and program intended use are administered within insure all deadlines and program requirements are met.”
Sandoval County was one of four local governments in Sandoval County to apply for these funds. The Town of Bernalillo received $1,128,900; Village of Corrales received $255,000; Village of Cuba received $32,902; City of Rio Rancho received $465,733 and Sandoval County received $965,000.
A total of 66 county and municipal governments applied for a total $50 million made available Small Business Continuity Grants. The largest award allocated was to the City of Las Cruces for $5,440,188.
If interested or if you have questions about the Small Business Continuity grant program please email: businessgrant@SandovalCountynm.gov or contact Dora Dominguez, Director, Sandoval County Business Development at (505) 404-5825.
Alerts Sign-up