Aid funding now available for Rio Rancho and Los Lunas businesses

Aid funding now available for Rio Rancho and Los Lunas businesses

  • Post published:September 10, 2020
  • Post category:News

Rio Rancho

The City of Rio Rancho has received $465,733 in CARES Act funds from the State of New Mexico to assist small businesses that have had to severely change business operations due to the COVID-19 pandemic. Small businesses in Rio Rancho have until Sept. 18 to apply for the first round of grants made available from the state through the CARES Act. Businesses can receive up to $10,000, according to the news release. If money remains after the first round, applications will be reviewed on a rolling basis according to a news release from the city.

Eligibility requirements for aid are:

  • To be eligible, the company must be headquartered in New Mexico and either have been forced to close or severely curtail business operations as a result of closure orders from the state and have an annual revenue of $2 million or less prior to the impact of COVID-19. 
  • Must be a Rio Rancho small business with 50 or fewer full-time equivalent employees.
  • The business must have a principal place of business in the municipal limits of Rio Rancho.
  • The business must have a valid City of Rio Rancho Business License/Registration.
  • The business shall remit GRT via the CRS1 form with a correct Rio Rancho location (if applicable).

For more information and to begin, the application click HERE.

Los Lunas

The Village of Los Lunas is also accepting applications for it’s small business grant program funded by the federal CARES act. Los Lunas received $335,475 in CARES funding from the federal government and will fund two rounds of grant applications for qualified businesses. The initial round will allow businesses to apply for funds to cover expenses incurred since March 1 until now, with the second round of grants to fund expenses incurred through December 30. Applicants may apply for grants of up to $10,000.

Eligibility requirements for aid are:

  • Be headquartered in NM
  • Have 50 or fewer full time equivalent employees
  • Have annual revenues of $2 million or less
  • Business start date no later than March 1, 2019, and
  • Demonstrate the business was either forced to close or had severely curtailed business operations as a result of closure orders due to COVID-19.

For more information and to begin the application, click HERE.