Small businesses throughout the state are eligible for government assistance due to the COVID-19 crisis, but that money is likely to disappear quickly, so the Curry, Roosevelt and De Baca County Small Business Development Center encourages businesses to apply as soon as possible.
Sandra Taylor-Sawyer, director of the center, said that she has been particularly busy explaining to small businesses the opportunities they have to apply for assistance.
“We are the ones who can help with their questions, help them complete their forms and plan for what they need to do now. And after this issue is over, we also provide business training and counseling assistance to small businesses,” Taylor-Sawyer told The Eastern New Mexico News,
New Mexico small businesses that are facing financial crises are being told to apply as soon as they can for a loan from the federal stimulus bill, which is diverting $349 billion in loans to those businesses that are eligible. The deadline for the application is June 30, but it will only last as long as the money is available.
Small businesses are those with 500 or fewer employees. Taylor-Sawyer said that over 90% of New Mexico businesses should be eligible to receive assistance.
“We are encouraging businesses to first seek assistance at the federal level, but also the state,” Taylor-Sawyer said. “This is the first time in the 29 years that I’ve been doing this that they are looking at having unemployment (insurance) for business owners, which is huge. But this is a huge issue.”
The Emergency Economic Injury Grant is another program of up to $10,000, which does not need to be paid back and is available for businesses that are 501C, D or E.
Taylor-Sawyer said that she is standing by to help small business owners find out how to take advantage of these options in a tough time.
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