• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Mountain
    • Bike Park
    • Lift Tickets
    • Mountain Facts
    • Ski & Snowboard School
    • Snow Report
    • Trail Map
  • Winter
    • Ski Shops
    • Downhill Skiing
    • Ice Fishing
    • Night Skiing
    • Nordic Skiing
    • Sledding
    • Snowmobiling
    • Sleigh Rides
    • Terrain Parks
    • Tubing
  • Summer
    • Biking
    • Camping
    • Fishing
    • Go Carts
    • Golfing
    • Hiking
    • Horseback Riding
    • Music From Angel Fire
    • Whitewater Rafting
  • Lodging
    • Bed & Breakfasts
    • Cabins, Condos & Houses
    • Hotels, Motels & Lodges
    • Pet Lodging
    • R.V. Parks
    • Reservation Services
  • Real Estate
    • Builders & Supplies
    • For Sale By Owner
    • Home Builders
    • Office Space
    • Real Estate Sales
    • Real Estate Services
  • Links
  • Angel Fire News

Angel Fire, New Mexico

Lodging, Real Estate, Skiing, Golf & More!

  • About Angel Fire
    • Advertising
    • Area Groups
    • Attorneys
    • Churches
    • Communication
    • CPAs
    • Dining
    • Essentials
    • Financial Services
    • Getting Here
    • Home Services
    • Insurance
    • Internet Services
    • Jobs
    • Living Here
    • Local Businesses
    • Music From Angel Fire
    • Photography
    • Schools
    • Security
    • Shopping
    • Vital Statistics
    • Weather
  • Event Schedule
  • Request Brochure
  • Email This Page
  • Photo Gallery
  • Video Gallery
  • Contact Us

Federal Cares Act Grant Money

December 13, 2020 By Dave C. Leave a Comment

Short Window of Opportunity to Apply for FEDERAL CARES ACT GRANT money made available to small businesses in NM.

The Coronavirus Aid, Relief, and Economic Security (CARES Act) was passed by Congress with overwhelming, bipartisan support and signed into law by the President on March 27th, 2020. It was designed to provide fast and direct economic assistance for American workers and families, small businesses, and preserves jobs for American industries for the immediate support of small businesses. New Mexico received $1.2 billion in CARES Act funding for that exact purpose, but there is still a lot of money the state must spend before the Dec. 30 use-it or lose-it deadline.

A portion of the remaining funds, in the amount of $100 million has now been appropriated by the state for small business grants. Given the time frame remaining to disperse this money, there is an extremely short window of opportunity to apply. There are many thousands of businesses in need of this money and the amount allotted will not cover them all, so please, thoroughly read through the guidelines and be prepared when you apply. Applications, with all of the required documents, may be uploaded beginning at noon December 7, 2020.

Information and the application for the Small Business CARES Relief Grants will be available at the New Mexico Finance Authority website. The application is live 12/07/2020. (Location to watch complete sideshow presentation is listed at the bottom of this article)

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.

Process for Funding Applications

The applications will be funded in three rounds so that businesses that apply later in the application period still have a chance to obtain funding. The funding rounds and amounts set aside for funding are as follows:

Round 1: Applications submitted by noon on December 10: $40,000,000
Round 2: All applications submitted by noon on December 15 and those unawarded applications from Round 1: $35,000,000
Round 3: All applications submitted by noon on December 18 and those unawarded applications from Rounds 1 and 2: $25,000,000 plus any allocated funds that were not used in earlier rounds.

Applicants should apply only once. If an application is not funded in the round in which it was submitted, the application will roll into the next round and will be considered again.

Application Deadline

The application will open the week of December 7 until noon on December 18. The application will close at noon on Friday, December 18. Please note that this is only 11 days. We encourage you to apply as early as possible. Businesses may only submit one application.

You MUST have all of the required documents ready in advance in digital format, because the application has to be filed all at once – there is not an option to save the application and add documents later: If you do start the process without uploading the required documents, the application will be disqualified and you will not be allowed to file again!

Required Documents

  • 2019 business federal tax return;
  • A quarterly employment wage report submitted to the New Mexico Department of Workforce Solutions for any quarter ended March 31, 2019 or later. If no report is provided, applicant will be considered a non-employer business;
    • applicant’s NAICS Code; (This is the code used for your CRS#)
    • bank account information including a copy of cancelled or voided check; and
    • copy of the driver’s license or government-issued identification card for the authorized officer and all New Mexico resident owners that make up at least 51% of the business. NMFA may request additional information to verify residency, number of employees, measurement of severe economic impact, or anything else needed to evaluate the application.

Applications that do not have the required documents are considered incomplete. Incomplete applications will be considered the lowest priority and may result in decline. NMFA staff will inform applicants through email regarding missing attachments. Applicants should watch their inbox, junk folder and spam filters for email from @nmfa.net and @formstack.com.

Funding Prioritization

To ensure that grants have been distributed throughout the State, 40% of the funds have been set aside for businesses in rural areas. Businesses in the Hospitality and Leisure industries will be been given priority to the funding as directed by the legislation.

If there are more applications then available funding, NMFA will prioritize the applications based on each business’s profit or loss per employee and will fund the applications in the order prioritized.

Definition of New Mexico Resident

“New Mexico Resident” means an individual who has certified that the individual is domiciled in this state during any part of the year or that the individual was physically present in this state for at least 185 days during the taxable year, as evidenced by a valid New Mexico State Driver’s License or government-issued identification card.

Grant Amounts

Businesses will be awarded grant amounts based upon the number of individuals they employ. The grant amounts are fixed amounts that are based on quarterly wage reports submitted to the New Mexico Department of Workforce Solutions. Businesses that do not pay unemployment taxes (non-employer businesses) and those that do not submit a copy of the quarterly wage report will be eligible for a grant of $2,000.

Employees / Grant Amount
0 / $2,000
1-5 / $10,000
6-15 / $15,000
16-25 / $25,000
26-40 / $30,000
41-60 / $40,000
61-75 / $45,000
76-100 / $50,000

I’ve had to reduce staff because of the Emergency Health Orders. How will this affect the amount of grant I receive?

Applicants are able to use pre-COVID employment levels for purposes of determining the grant amount. Applicants are able to submit any quarterly wage report from March 31, 2019 to date.

Use of Grant Funds

The grant may be used for regular business expenses that cannot be paid without additional assistance due to revenue losses because of the pandemic. The grant may also be used for expenses incurred due to the pandemic, such as PPE or retrofitting a business to meet COVID-19 safety guidelines.

If you have more questions please email cares@nmfa.net or call 505-992-9696.

The webinar Overview: Small Business CARES Relief Grant Program by Marquita Russel and her staff at NMFA provides a thorough overview of the program.

You can access the presentation slides or a YouTube video.

Filed Under: Angel Fire News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Featured Business

Snowblaze Ski Shop
Snowblaze Ski Shop

Local Weather

ANGEL FIRE WEATHER

Snow Report

Check out the latest snow report or three mountain web cams from Angel Fire Resort.

Road Conditions

Check out road conditions in New Mexico. Stay safe!

Archives

  • May 2024 (11)
  • February 2024 (4)
  • November 2023 (6)
  • September 2023 (3)
  • August 2023 (7)
  • July 2023 (2)
  • June 2023 (2)
  • April 2023 (14)
  • March 2023 (13)
  • February 2023 (7)
  • January 2023 (9)
  • December 2022 (14)
  • November 2022 (4)
  • October 2022 (13)
  • September 2022 (8)
  • August 2022 (6)
  • July 2022 (8)
  • June 2022 (15)
  • April 2022 (5)
  • March 2022 (15)
  • February 2022 (10)
  • January 2022 (10)
  • December 2021 (4)
  • November 2021 (5)
  • October 2021 (17)
  • August 2021 (3)
  • July 2021 (12)
  • May 2021 (15)
  • April 2021 (12)
  • March 2021 (10)
  • February 2021 (10)
  • January 2021 (16)
  • December 2020 (5)
  • November 2020 (12)
  • October 2020 (23)
  • September 2020 (21)
  • August 2020 (8)
  • July 2020 (15)
  • June 2020 (18)
  • May 2020 (17)
  • April 2020 (25)
  • March 2020 (37)
  • February 2020 (12)
  • January 2020 (17)
  • December 2019 (4)
  • November 2019 (11)
  • August 2019 (5)
  • July 2019 (11)
  • June 2019 (12)
  • May 2019 (14)
  • April 2019 (19)
  • March 2019 (13)
  • February 2019 (33)
  • January 2019 (4)
  • December 2018 (6)
  • November 2018 (12)
  • October 2018 (14)
  • September 2018 (9)
  • August 2018 (1)
  • July 2018 (16)
  • June 2018 (3)
  • May 2018 (21)
  • April 2018 (20)
  • March 2018 (23)
  • February 2018 (18)
  • January 2018 (5)
  • December 2017 (54)
  • November 2017 (10)
  • October 2017 (20)
  • September 2017 (19)
  • August 2017 (18)
  • July 2017 (11)
  • June 2017 (12)
  • May 2017 (15)
  • April 2017 (28)
  • March 2017 (16)
  • February 2017 (30)
  • January 2017 (27)
  • December 2016 (12)
  • November 2016 (17)
  • October 2016 (17)
  • September 2016 (14)
  • August 2016 (18)
  • July 2016 (10)
  • June 2016 (22)
  • May 2016 (13)
  • April 2016 (19)
  • March 2016 (10)
  • February 2016 (18)
  • January 2016 (14)
  • December 2015 (29)
  • November 2015 (12)
  • October 2015 (13)
  • September 2015 (10)
  • August 2015 (17)
  • July 2015 (16)
  • June 2015 (14)
  • May 2015 (33)
  • April 2015 (15)
  • March 2015 (14)
  • February 2015 (20)
  • January 2015 (9)
  • December 2014 (34)
  • November 2014 (20)
  • October 2014 (20)
  • September 2014 (13)
  • August 2014 (29)
  • July 2014 (15)
  • June 2014 (24)
  • May 2014 (22)
  • April 2014 (15)
  • March 2014 (16)
  • February 2014 (10)
  • January 2014 (20)
  • December 2013 (20)
  • November 2013 (17)
  • October 2013 (22)
  • September 2013 (13)
  • August 2013 (14)
  • July 2013 (25)
  • June 2013 (25)
  • May 2013 (17)
  • April 2013 (12)
  • March 2013 (15)
  • February 2013 (11)
  • January 2013 (16)
  • December 2012 (17)
  • November 2012 (19)
  • October 2012 (17)
  • September 2012 (9)
  • August 2012 (15)
  • July 2012 (18)
  • June 2012 (18)
  • May 2012 (23)
  • April 2012 (13)
  • March 2012 (15)
  • February 2012 (11)
  • January 2012 (17)
  • December 2011 (15)
  • November 2011 (16)
  • October 2011 (17)
  • September 2011 (18)
  • August 2011 (22)
  • July 2011 (19)
  • June 2011 (18)
  • May 2011 (34)
  • April 2011 (45)
  • March 2011 (48)
  • February 2011 (55)
  • January 2011 (46)
  • December 2010 (39)
  • November 2010 (57)
  • October 2010 (30)

Tags

Adoption Angel Fire ArtSpace Angel Fire Chamber of Commerce Angel Fire Community Center Angel Fired Pizza Angel Fire Fire Department Angel Fire Garden Club Angel Fire Resort Angel Fire Rotary Club Angel Fire Small Animal Hospital Angel Fire Visitor Center Art Up! Balloons Over Angel Fire Business After Hours Business Brief Carson National Forest Current Events Eagle Nest Elementary Eagle Nest Lake State Park Elements Employment Girl Scouts Holy Angels Catholic Church Jokes Kit Carson Coop Laguna Vista Lodge Missing Pet Moreno Valley Arts Council Moreno Valley High School Moreno Vally Arts Council Music From Angel Fire National Veterans Wellness & Healing Center Pub 'n Grub Recycling Roadrunner Tours Rotary Club of Angel Fire Shall We Dance? Shopping Shuter Library Stray Hearts Animal Shelter The TrailHead United Church of Angel Fire Vietnam Veteran's National Memorial Village of Angel Fire Zebadiah's Restaurant & Bar

[footer_backtotop]

Copyright © 1996-2019 Apok Technology, Inc. · All rights reserved. · Log in