ALBUQUERQUE, N.M. (KRQE) – The Metropolis of Albuquerque Financial Improvement Division has introduced new financial reduction by means of a $10 million Small Enterprise Financial Aid Grant Program. One-time grants of as much as $10,000 will likely be obtainable to small companies and domestically owned franchises inside metropolis limits.
The Albuquerque Metropolis Council accepted appropriations for the grounds by means of funding by the federal CARES Act. Initially of the pandemic, the Metropolis supplied $750,000 in direct enterprise assist grants to 150 native companies with help from the One Albuquerque Fund. The Metropolis can be working to supply over $1 million value of PPE to small companies.
To be eligible for the assist, a enterprise will need to have not more than 50 full-time staff together with the proprietor, and two part-time staff are equal to 1 full-time worker.
Companies should even have been working for a minimum of one 12 months, have the ability to present financial hardship as a result of pandemic, and have a present and legitimate Metropolis of Albuquerque enterprise registration license amongst different necessities. Ineligible companies embrace these whose patrons should be age 18 or older in addition to corporate-owned chains.
As soon as an utility has been accomplished, grantees will likely be awarded on a first-come, first-served foundation except the grants are oversubscribed. At the moment, town will make use of a weighted lottery system. Purposes can be found in English, Spanish, and Vietnamese with all grants being funded by Dec. 30.