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NMEDD - Weekly Wrap Up
EDD Resource Wrap Up
Gov. Michelle Lujan GrishamCabinet Secretary Alicia J. KeyesDeputy Secretary Jon ClarkNEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENTWEEKLY RESOURCE WRAP-UPNovember 20, 2020
UPCOMING WEBINARSAND EVENTSEDD's Miniseries for Business Owners of Color - CDFIs & CUsNovember 20 at 12:30 pmInvestment Connection - Maximize Your IC Proposals!December 3 at 10 amThe Hero Factor - How to Transform Your Business and Create a Winning CultureDecember 3 at 12 pmThe 5 Step Marketing Strategy During a PandemicDecember 8 at 11 amThe New Mexico SBIR/STTR Innovation SummitDecember 9 at 9 amSouthwestern New Mexico Finance FairDecember 9 at 12:30 pmSBA Surety Bond Program OverviewDecember 10 at 10 amEDD's Miniseries for Business Owners of Color -Tools to Help Your Business Flourish – Business ResourcesDecember 11 at 12:30 pmLocal On Demand SCORE Webinars:ARTICLES/LINKSCOVID-19 Recovery ResourcesNEW!City of Albuquerque Small Business Economic Relief GrantThe City of Albuquerque Economic Development Department seeks to provide financial support to local small businesses impacted by the public health emergency by reimbursing the cost of business interruption caused by required restrictions. Cycle opens December 6.NEW!City of Santa Fe CONNECTThe City of Santa Fe is launching an emergency cash assistance program for residents out of work and at risk of eviction. Their goal is to distribute a total of $2 million through one-time cash payments as part of a $17.5 million CARES Act grant awarded to the city by the state.NEW! Restoration and Resilience COVID Recovery FundThe Restoration and Resilience COVID Recovery Fund is providing grants to support public lands, including parks, nature areas, and other green spaces, that have been impacted by increased use during the COVID-19 pandemic. The focus is on supporting agencies and organizations responsible for maintaining public lands by distributing resources and mobilizing volunteers to help keep up with increased human presence in these delicate ecosystems. Grants of up to $2,500 will be awarded. Nonprofit organizations, state or federal government agencies, federally recognized tribes and local governments, and educational institutions are eligible to apply. Deadlines: December 1, 2020, and February 1, April 1, and June 1, 2021.TRIBAL RESOURCE: Chamiza Foundation Covid-19 Emergency Relief FundThe Chamiza Foundation is accepting applications from Pueblo Indian organizations and organizations serving Pueblo communities in New Mexico that are responding to direct threats from COVID-19. The grant awards will range from $3,000 to $12,000. Specific areas of interest include food, medical supplies, and personal items; water; community relief and recovery needs; and internet access and connectivity. Deadlines: February 12 and May 7, 2021.Federal Reserve System Main Street Lending ProgramThe Federal Reserve Board lowered the minimum loan amount of its Main Street Lending Program to $100,000 to allow more businesses to access available funds. This and other term changes apply to for-profit and non-profit organizations affected by the COVID-19 emergency. The program offers 5-year loans with floating interest rates and deferred principal payments. The loan must be initiated by a participating lender.Updates on Small Business Continuity Grant ProgramThe Rural Relief Small Business GrantsThis 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 InitiativeBloomberg 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 FundThe 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) ChallengeThe 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 FundCreated 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 28Gross Receipts Holiday, Read More...
Virtual Event: Reimagining the N.M. Food EconomyDecember 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 ResourcesNEW!Updated Interest Rates for the 504 Loan ProgramThe 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.MStreetXMStreetX 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 FundsThe 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 FundThe 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 BusinessesSmall 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 ResourcesNEW! TRIBAL RESOURCE: USDA RD Tribal ToolkitThe 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 ProgramThe 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 ImplementationThe 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, 2021NEW! 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 ProposalsNew 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 GrantsThe 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 ProgramThe 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 GranteeThe 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 ProgramChoice 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 ProgramThe 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 GrantThe 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 ProgramThe 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 GrantsThe 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 ScholarshipsThe 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 GrantsFarm 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 CommunitiesThe 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 RecordingsCouncil of Government Overview: How are COGs helping in COVID 19 Recovery and Strategic Planning(11/18/20)Get Ready for Small Business Saturday(11/16/20)To see a full list of upcoming webinars and links to more previously recorded webinars:Have a great resource you want to share with our community?If you would like to stop receiving these weekly updates, but still receive other correspondence from the New Mexico Economic Development Department, please send an email, asking to opt out, by clicking here. 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