The Regional Development Corporation (RDC) seeks to sustain and further develop small businesses in northern New Mexico by offering micro-grants in order to grow and diversify the economy an create jobs for those who want to stay in the region.
Purpose: The Regional Development Corporation’s Micro-Grant Fund offers micro grants to any type of small business that has an immediate need for a small amount of funding to sustain the company and/or to move it to the next level, and/or add jobs. A Micro-Grant assists companies that may not be eligible for other types of funding, or are not aware of available funding sources. Companies selected for this award do not give up any equity by accepting funding, and are not required to provide collateral or a personal guarantee.
Awards are made on a competitive basis and are intended to provide small infusions of capital that allow a business to diversify, sustain or grow revenue, leverage other investments, and put proper systems in place that lead to growth in order to create opportunities for job seekers who want to stay in the region. The RDC provides technical support and information on other funding opportunities to all applicants.
- Award Size: $500 – $2,000
Small businesses of any type, size, or stage may apply. Applicants in rural areas of the RDC’s seven county service region will be given preferential consideration, as will applicants who have not previously been awarded an RDC grant or no-interest loan. Proposals relating to gaming, tobacco, or illegal activities will not be funded. To be eligible, applicants must:
- Be a for-profit company with a business license, business bank account, and CRS identification number
- Be headquartered in Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba, or Taos county
- Submit a fully completed Micro-Grant Fund application by the published deadline
- Have a specific project in mind with well-defined goals and tasks that will move the company forward and can be completed in 6 months or less from the date of the grant agreement
For more information, visit https://www.rdcnm.org/microgrant-fund