The New Mexico Finance Authority (NMFA) offered $200 million in grant relief to New Mexico small businesses and nonprofits impacted by the COVID-19 pandemic.
The grants created by the State of New Mexico were tied to job creation, according to the NMFA website.
“(The grants) must be used as reimbursements for rent, lease or mortgage payments, and are prioritized based on the severity of economic decline experienced by the business,” the website stated.
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The grants are part of the Local Economic Development Act (LEDA) created during the 2021 regular New Mexico Legislative Session.
State Rep. Christine Chandler (D-43) and State House Speaker Brian Egolf (D-47) sponsored House Bill 11 (HB11) and introduced the legislation Jan. 25, per the New Mexico Legislature’s website.
