Small Business and Nonprofit Resources
I wanted to make sure you were aware of a new guide to help small business owners and non-profit leaders in New Mexico access funding included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed by Congress and signed into law last week.
You can download the small business guide here.
The new law includes $377 billion in small business aid - including up to $10 million in Payment Protection Program loans from the Small Business Administration for small businesses and non-profits with up to 500 employees. These loans can be converted to grants if employers maintain their previous payroll through December 31, 2020. You can find out more about all of the provisions in the new law that will help small businesses here.
I have also compiled a COVID Community Resources page on my website, where you can find businesses and organizations from around New Mexico that can be of assistance during this challenging time. It includes local banks, credit unions, utilities, phone and internet service providers, food banks, and a section of resources for small business owners. We will continue to update these resources.
I am committed to supporting New Mexico's small business owners throughout this crisis and working with them to rebuild thriving local economies across our state when this is all over. Please don't hesitate to contact my office if I can be of assistance to you and your family.
Be well and stay healthy.
United States Senator