Small Business Administration – Economic Injury Disaster Loans (EIDL) (federal)
New Mexico is one of the first states to be approved for the SBA’s $50 billion disaster loan assistance program. Disaster loan assistance will be available for businesses in all 33 counties. Press release issued 3/17/20.
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 payroll.
Lenders and borrowers can apply here. Or Download a PDF version of the application.
Contact: Johanna Nelson, Johanna.Nelson@state.nm.us or 505.469.6204.
LEDA Zero-Percent Interest Loans
Personal Income and Payroll Tax Extension
New Mexicans now have an extra 90 days to file and pay their 2019 personal income taxes in recognition of the economic hardships many are facing as a result of the COVID-19 pandemic.