DLCED and the City of Deming are currently not accepting applications for the Local Economic Stimulus Fund.
The Small Business Continuity Grants will be available soon.
Municipalities and Counties can apply for funding under the CARES Act that reimburses expenses related to COVID-19. In conjunction with reimbursements the City of Deming will be acting as the fiscal agent to administer funds to our small business community.
This grant is available to qualifying small businesses with 50 or fewer full-time equivalent employees in New Mexico if funding remains for the program. The grant proceeds must be spent on eligible “business continuity” expenses. In addition, you may qualify for additional funding for “business redesign” expenses necessary to adopt COVID Safe Practices, and eligible expenses for both portions of this grant program outlined below.
To be eligible, your 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.
Grant awardees must spend “business continuity” grant money on non-owner employee payroll, rent, scheduled mortgage payments, insurance, utilities, or marketing. Grant awardees must spend “business redesign” grant money on things like reconfiguring physical space, installing plexiglass barriers, purchasing web-conferencing or other technology to facilitate work-at-home, or PPE for employees.
$186,375 was allocated for the Small Business Continuity Grant to the City of Deming.
$239,625 was allocated to for the Small Business Continuity Grant to the County of Luna.
$186,375 was allocated for the Small Business Continuity Grant to the Village of Columbus.
The local governments are in the process of formally accepting the funds. More information will follow when that is completed.