Most businesses awarded money through a $100 million state CARES small business continuity grant program already have the money in hand, according to Marquita Russel. Russel is chief executive officer of the New Mexico Finance Authority, which is administering the grant program established by the New Mexico Legislature during a November 2020 special session. The […]
About half of applicants get New Mexico virus relief grants sfchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfchronicle.com Daily Mail and Mail on Sunday newspapers.
ALBUQUERQUE - More than 6,500 hard-hit New Mexico businesses and nonprofits are receiving an extra Christmas present: up to $50,000 in grant funding from the government.
However, because of a higher-than-expected number of applications for the program set up by the state using federal funding less than half of the organizations that applied will receive a grant. The number (of applications) that we couldn t fund was very hard for us, said Marquita Russel, CEO of the New Mexico Finance Authority, the state agency that administered the program.
The Small Business CARES Relief Grants program was part of a larger $320 million pandemic aid package passed by state lawmakers during the recent special session.
46% of New Mexico grant applicants get virus relief funds sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Created: December 29, 2020 10:19 PM
ALBUQUERQUE, N.M. A lot of businesses have been reaching out for help during the pandemic, but many will soon be out of luck after the state said they ran out of CARES Act funds.
The state said more than 14,000 companies applied for small business grants approved by lawmakers last month. However, only 6,500 will receive money.
Officials with the city of Albuquerque also said they ran out of its shares of CARES Act funding.
During the city’s last rounds of applications, they had 332 grants available, but received 796 applications. According to the city’s website, “those who have applied will be placed into a lottery and will be notified by our small business office.”