Thanks to the Santa Fe Business Incubator for much of this list.
COVID-19 Business Loan Guarantee Program
The New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for (and not limited to) the following: working capital, inventory and payrollLenders apply here. Or Download a PDF version of the application. COVID-19 Business Loan Guaranty Agreement between NMEDD & Lender. Contact Johanna Nelson, Johanna.Nelson@state.nm.us or 505.469.6204.
LEDA Zero-Percent Interest Loans
Limited to expenditures for land, building and infrastructure. Can be used for lease abatement or mortgage assistance. Company must be a qualified entity (manufacturer, non-retail service business with more than 50% of revenue generated out of state). All loans will be required to provide security equal to the amount of the loan. For assistance with LEDA loans, find & contact your Regional Representative, or contact Mark Roper, Mark.Roper@state.nm.us or 575.562.0327.
State of New Mexico EDD Resources Webinar
The City of Albuquerque
New Mexico Department of Workforce Solutions
During a press event on March 13, Secretary McCamley announced that Department of Workforce Solutions will allow employees who have had to cut their hours due to coronavirus to claim partial unemployment benefits. This is an attempt to prevent layoffs. Employees will need to complete weekly certification to claim benefits, but the usual requirement of providing proof that one is looking for work will be waived. Employees can apply online at www.jobs.state.nm.us or over the phone at 1-877-664-6984 Monday-Friday, 8:00am-4:30pm. Learn more here.
Small Business Administration
Disaster Loan Assistance: On March 12th the Small Business Administration (SBA) announced up to $2 million in disaster assistance loans. These are low-interest loans that may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. You can complete the application online but consider printing a paper version first so you know what information you'll need. With all your information on hand, it will be easier and faster to complete the online application. Find the paper applications here.
The Centers for Disease Control & Prevention COVID-19 guidance for businesses:
Department of Labor
The Wage and Hour Division is providing information on common issues employers and workers face when responding to COVID-19, including the effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act. The Office of Public Liaison at the Department of Labor shared their latest press release on COVID-19 (A.K.A. novel coronavirus). It outlines DOL guidelines and recommendations for dealing with the virus and also contains links to more detailed information and resources. Learn more here.
Consumer Financial Protection Bureau
Learn how to protect yourself financially from the impacts of coronavirus here.
COVID-19 Business Survival Resource List
New Mexico Tech Council
Cybersecurity in the Age of COVID - 19 April 1. NMTC Cybersecurity Peer Group will host a virtual meeting with expert Jonathan Sandmel of Steady Networks discussing cybersecurity during the time of COVID-19. If you're curious about how it will impact the landscape, or concerned about your business' protection, join to discuss implications and best practices. Learn more here.
Mental Health Support
The New Mexico Crisis and Access Line has counselors who are available 24/7 at 855-662-7474. Learn more.
PNM will temporarily be suspending disconnections for non-payment. Learn more about this, and other steps PNM is taking. The Water Authority is responding to COVID-19 by assuring customers that it has contingency staffing plans in place to ensure continuity of water and sewer service, as well as suspending disconnections for non-payment until further notice. Learn more. The New Mexico Gas Company announced that no service will be disconnected for non-payment. Please consider paying your bill by mail, by phone or on their website. Learn more.