Small Business Grants in New Mexico (NM)

Securing a small business grant in New Mexico involves identifying the right opportunities, understanding the eligibility criteria, and preparing a compelling application. Here are some of the most relevant opportunities for small businesses in New Mexico:

New Mexico Small Business Assistance (NMSBA) Program
This program offers technical assistance to New Mexico businesses facing technical challenges. Small businesses located in Bernalillo County can receive up to $10,000 in technical assistance per year, while businesses in rural counties can receive up to $20,000. The assistance is provided by lab scientists and engineers to solve challenges and overcome barriers to company success.

Business Recovery Grant Program (LEDA Recovery Grants Program)
This program provides grants for rent, lease, and mortgage payments to eligible businesses that meet job creation criteria. The smallest grant was $2,000 and the largest grant was $50,000. The average grant size was $15,000.

Solid Waste Facility Grant
This grant is to enable the development, engineering, construction, and operation of solid waste facilities and systems throughout the state. Only counties, municipalities, and solid waste authorities may apply for this funding.

New Mexico State Trade Expansion Program (STEP) Grant
This is a reimbursement grant program that helps New Mexico businesses begin exporting or expand into new international markets. Eligible companies may request up to $7,500 per annual grant cycle.

Revitalize Las Cruces Small Business Grant Program
This program provides grants up to $25,000 to eligible small business owners in the City of Las Cruces. The grant funds can be utilized for expenses such as payroll, working capital, business rent, inventory, supplies, equipment, and other operational costs.

Rural Business Development Grants
These grants are for community projects that serve rural areas. Grants may be made to a Public Body/Government Entity, an Indian Tribe, or a Nonprofit entity primarily serving rural areas. The grants can be used for training and technical assistance, such as project planning, business counseling and training, market research, feasibility studies, professional or/technical reports, or producer service improvements.

Small Business + Entrepreneurial Recovery Grants
The City of Albuquerque Economic Development Department and the Small Business Office have created a program that offers one-time grants of $10,000 to qualifying small businesses to cover operating expenses, payroll, permitting, business equipment purchases, and more.

Amber Grants for Women
Businesswomen from New Mexico are eligible to win one of three $10,000 monthly grants. At the end of the year, each Amber Grant winner for that year is eligible for an additional $25,000 grant.

To apply for these grants, you need to contact the respective financial aid agencies, understand the eligibility criteria, and prepare a comprehensive application. It’s also recommended to seek assistance from organizations like the New Mexico Small Business Development Center (NMSBDC) that offer resources and guidance to small businesses.