CARES act aid application window for Rio Rancho business ends today

CARES act aid application window for Rio Rancho business ends today

  • Post published:September 18, 2020
  • Post category:News

The application window for the first round of relief aid to Rio Rancho businesses ends today at 5PM. The City of Rio Rancho received $465,733 in federal CARES Act funds from the State of New Mexico to assist small businesses that have experienced operational difficulties due to the COVID-19 pandemic. Applying businesses can receive up to $10,000 in assistance for operational expenses and “business redesign expenses”. If funding remains available after the first round of grants, additional applications will be reviewed on a rolling basis according to a news release from the city. If your business meets the eligibility requirements for these funds do not wait to apply. Eligibility and application details are listed below. For more information click HERE.

Eligibility Requirements:

  • 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. 
  • The business must have had a start date of March 1, 2019 or prior. 
  • 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 (if it needs to be renewed, please contact the City Clerk at 505-891-5004 or www.rrnm.gov/30/City-Clerk).
  • The business shall remit GRT via the CRS1 form with a correct Rio Rancho location (if applicable).
  • Nonprofits are eligible.