• Title

  • NMEDD - Weekly Wrap Up

    EDD Resource Wrap Up
     

    Gov. Michelle Lujan Grisham
    Cabinet Secretary Alicia J. Keyes
    Deputy Secretary Jon Clark
     
    NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
     
    WEEKLY RESOURCE WRAP-UP
    November 20, 2020
    The Rural Relief Small Business Grants 
    This program supports small business owners in rural communities with a population of 50,000 or less. Support is provided to small businesses and enterprises affected by COVID-19, especially those in underserved communities, including entrepreneurs of color and women- and veteran-owned businesses that often lack access to flexible, affordable capital. Deadlines: December 2, 2020, January 5 and February 2, 2021. 
     
    Bloomberg Philanthropies - Coronavirus Local Response Initiative 
    Bloomberg Philanthropies is helping cities and states combat the devastating impact of COVID-19 on the wellbeing of residents and local economies. The fund will provide grants and interest-free loans, with priority given to direct social service providers.
     
    Mission Asset Fund: Immigrant Families Fund
    The Immigrant Families Fund provides grants of $500 to immigrants to help cover whatever is most pressing in their lives. Applicants must have experienced an income disruption due to COVID-19, earn less than $99,000 annually or a $198,000 household income, and not be eligible to receive a CARES Recovery Rebate (coronavirus stimulus check) from the federal government.
     
    EDA's New Scaling Pandemic Resilience Through Innovation and Technology (SPRINT) Challenge
    The SPRINT Challenge is a $25 million national competition funded by the CARES Act. With the publication of the SPRINT Challenge Notice of Funding Opportunity (NOFO) today, EDA seeks projects that aim to prevent, prepare for, and respond to the coronavirus pandemic and future pandemics. Deadline: December 3.
     
    New Mexico Small Business Recovery Loan Fund
    Created by the NM Legislature in the June 2020 Special Session, this $400 million program provides loans up to $75,000 to businesses and nonprofit organizations that have been affected by the public health orders related to the pandemic. The three-year loans are low interest (currently 1.625%), have no fees, require no collateral or personal guarantees, and payments are interest-only for the first three years.
     
    FEATURED EDD EVENTS:
    Support Shop Small Saturday on November 28
    Gross Receipts Holiday, Read More...
     
    Virtual Event: Reimagining the N.M. Food Economy
    December 1 from 1 - 5 p.m.
     
    Join this virtual event, where we will hear from organizations leading the way in changing policy to address the needs of agricultural entrepreneurs and their support systems. Over a dozen community partners will participate in a resource expo before and after the event.  
    Additional Business Resources
    NEW!Updated Interest Rates for the 504 Loan Program 
    The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now allows for 10, 20, and 25-year interest rates at 2.231%, 2.364%, and 2.399%, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.
     
    MStreetX
    MStreetX is an inclusive marketplace that identifies the most accessible capital for small businesses and entrepreneurs leveraging place-based resources and emerging technologies. They offer several ways to assist small and medium sized businesses, entrepreneurs, and CDFIs by providing them with access to capital with an initial focus in the hospitality industry.
     
    Mabee Foundation Capital Funds
    The Mabee Foundation provides funding for nonprofit organizations. The Foundation's grant categories include Education, Medical and Health, Social and Humanitarian, and Cultural and Religious. Grants are made toward building and facility construction and renovation projects, as well as for the purchase of major medical equipment. The Foundation requires that 40% of the total project be raised by other public donors before it will consider a grant request. Online applications are due on the first business day of March, June, September, and December, annually.
     
    SoftBank(SB) Opportunity Fund
    The SB Opportunity Fund is a $100 million venture fund dedicated to supporting Black, Latinx, and Native American entrepreneurs, who are vastly underrepresented in both the tech industry and venture capital community. The fund targets early-stage and growth companies.
     
    Organic Agriculture Research and Extension Initiative (OREI) 
    The purpose of this program is to fund projects that will enhance the ability of producers and processors who have already adopted organic standards to grow and market high quality organic agricultural products. Priority concerns include biological, physical, and social sciences, including economics. The OREI is particularly interested in projects that emphasize research, education and outreach that assist farmers and ranchers with whole farm planning by delivering practical research-based information.
     
    Disaster Loan Assistance to NM Small Businesses
    Small nonfarm businesses in nine New Mexico counties and neighboring counties in Texas are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration. These loans offset economic losses because of reduced revenues caused by drought, that began Aug. 25, 2020. Primary New Mexico counties that may be eligible: Doña Ana, Valencia, Bernalillo, Cibola, Luna, Otero, Sierra, Socorro, and Torrance.
     
    Additional Community Resources
    NEW! TRIBAL RESOURCE: USDA RD Tribal Toolkit
    The USDA RD Tribal Toolkit, Collaborating for Prosperity With American Indians and Alaska Natives Rural Development Programs for Tribes, Tribal Families, Children, and Communities, highlights programs available for American Indians and Alaska Natives.
     
    NEW! Southwest Border Resource Protection Program 
    The program funds initiatives to improve resource stewardship, achieve international cooperation, provide meaningful interpretation, and conduct scientific research that will lead to public appreciation of shared natural and cultural heritage along our international border with Mexico. Eligible Applicants: state, local, and tribal governments, as well as nonprofits and institutions of higher education. $275,000 in total funding. Deadline: January 1, 2021.
     
    NEW!Endangered Species Recovery Implementation 
    The principal objective of this Recovery Implementation funding opportunity is to support the implementation of priority recovery actions for federally endangered and threatened species.
    Eligible Applicants: State, local, and tribal governments, as well as nonprofits, businesses, and institutions of higher education. $14,000,000 in total funding. Deadline: September 30, 2021 
     
    NEW! TRIBAL RESOURCE:Indian Housing Block Grant (IHBG)
    Eligible Indian tribes and tribally-designated housing entities receive grants to carry out a range of affordable housing activities. Grant funds may be used to develop, maintain, and operate affordable housing in safe and healthy environments on Indian reservations and in other Indian areas that carry out affordable housing activities. Grant funds must be used to primarily benefit low-income Indian families. $91,013,382 in total funds, 20 awards expected. Deadline: December 10.
     
    FundIt is Accepting Proposals
    New Mexico FundIt assists communities in accessing financing from over 15 different state and federal entities—all at one in-person meeting. FundIt is not a grant program; it is a platform connecting your community with a variety of different agencies and resources simultaneously. This collaboration saves time, improves effective project review and support, and ensures strategic investments with public resources. Deadline: December 2.
     
    Veteran Housing Grants
    The Home Depot Foundation's Veteran Housing Grants Program awards funding to nonprofit organizations for new construction or rehabilitation of permanent supportive housing for veterans. Grants ranging from $100,000 to $500,000 are available for the physical construction or repair of housing for veterans (hard costs). High priority will be given to large metropolitan areas that have a dense veteran population. Nonprofit organizations that have been in existence at least five years and have a current operating budget of at least $300,000 are eligible to apply. Upcoming deadlines: December 18, 2020, March 26, 2021, and July 9, 2021.
     
    Rural Health Care Services Outreach Program
    The Outreach Program is a community-based grant program aimed towards promoting rural healthcare services by enhancing healthcare delivery to rural underserved populations. Deadline: December 8.
     
    Head Start/Early Head Start Grantee
    The Office of Head Start is soliciting applications from public or private non-profit organizations, including community- and faith-based organizations, or for-profit organizations that wish to compete for funds to provide Head Start and/or Early Head Start services to eligible children and families. Deadline: January 5, 2021.
     
    Choice Neighborhoods Implementation Grant Program
    Choice Neighborhoods Implementation Grants support the implementation of comprehensive neighborhood revitalization plans that are expected to achieve the following three core goals: 1. Housing: Replace distressed public and assisted housing with high-quality mixed-income housing that is well-managed and responsive to the needs of the surrounding neighborhood; 2. People: Improve outcomes of households living in the target housing related to employment and income, health, and children’s education; and 3. Neighborhood: Create the conditions necessary for public and private reinvestment in distressed neighborhoods to offer the kinds of amenities and assets, including safety, good schools, and commercial activity, that are important to families’ choices about their community. Deadline: December 16.
     
    Five Star and Urban Waters Restoration Grant Program
    The Five Star and Urban Waters Restoration Grant Program seeks to develop community capacity to sustain local natural resources for future generations by providing financial assistance to diverse local partnerships focused on improving water quality, watersheds, and the species and habitats they support. Projects should increase access to the benefits of nature, reduce the impact of environmental hazards, and engage local communities, particularly underserved communities, in project planning, outreach, and implementation. Deadline: January 28, 2021. 
     
    TRIBAL RESOURCE: Gather Food Sovereignty Grant 
    The Gather Food Sovereignty Grant program will support organizations working to build a national movement to fulfill a vision where Native communities and food systems are self-directed, well-resourced, and supported by community policies and systems. Tribal governments and Native-controlled nonprofit organizations are eligible to apply. Deadline: January 14, 2021. 
     
    HOPE VI Main Street Grant Program
    The purpose of the HOPE VI Main Street Program is to provide grants to small communities to assist in the renovation of an historic or traditional central business district, or “Main Street” area, by replacing unused, obsolete, commercial space in buildings with affordable housing units.
    The objectives of the program are to: redevelop central business districts (Main Street areas);
    preserve Historic or traditional Main Street area properties by replacing unused commercial space in buildings with affordable housing units; enhance economic development efforts in Main Street areas; and provide affordable housing in Main Street areas.
     
    Peace Development Fund: Community Organizing Grants
    The Community Organizing Grants provide support to community-based organizations that are working for social justice. The funding priorities include organizing to shift power, working to build a movement, dismantling oppression, and creating new structures. Priority is given to new or emerging organizations; efforts that have difficulty securing funds from other sources; organizing efforts across national borders; climate change organizing at the local policy level; groups that have a genesis in Occupy, MeToo, or Movement for Black Lives; collaborative peace initiatives led by women or youth; or issues that are not yet recognized by progressive funders. Grants range from $2,500 to $10,000, with an average of $5,000. Applying organizations must have an annual budget of $250,000 or less. Deadline: December 30. 
     
    Sodexo Stop Hunger Foundation: Stephen J. Brady Stop Hunger Scholarships
    The Stop Hunger Scholarships recognize student innovation and youth-led solutions to fight hunger. Applicants must have demonstrated ongoing commitment to their community by performing unpaid volunteer services impacting hunger within the last 12 months. Students between the ages of 5-25 are eligible. Winners receive a $5,000 scholarship and a $5,000 grant made in their name to the hunger-related charity of their choice in their local community. Deadline: December 5.
     
    Farm to School Grants
    Farm to School Grants assist eligible entities, through funding and technical assistance, in implementing farm to school programs that improve access to local foods in eligible schools. Deadline: January 8, 2021.
     
    Building Resilient Infrastructure and Communities
    The Building Resilient Infrastructure and Communities (BRIC) program makes federal funds available to states, U.S. territories, Indian tribal governments, and local communities for pre-disaster mitigation activities.Deadline: January 29, 2021.
     
    Webinar Recordings
    Have a great resource you want to share with our community? 
    The New Mexico Economic Development Department's mission is to improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.

     

  •