LAS CRUCES - Small businesses throughout New Mexico struggling beneath the weight and hardships caused by the COVID-19 pandemic were recently offered the opportunity to apply for $100 million in grant funding provided through the federal Coronavirus Aid, Relief and Economic Security Act.
According to documents provided to the Las Cruces Sun-News by the New Mexico Finance Authority, which administered the grants issued last month, fewer than half of the Doña Ana County businesses and nonprofits who applied for the grants received any of the funding.
During a special legislative session in November, New Mexico s legislature allocated CARES Act money to assist small businesses. The New Mexico Finance Authority received 1,158 applications from Doña Ana County businesses in the 11-day time period. Only 540 businesses received a grant.