Deadline: 12-May-23
The Regional Development Corporation (RDC) is seeking applications for the Micro Grant Fund to provide a small infusion of capital that helps businesses diversify, sustain or grow revenue, leverage other investments, and put systems in place that lead to growth and create job opportunities.
Their goal is to sustain and assist developing businesses in Northern New Mexico with job creation and diversifying the region’s economy.
Funding Information
- Award Size: $500- $3,000
Eligibility Criteria
- For-profit business of any type, size, or stage
- Headquartered in either Los Alamos, Mora, Rio Arriba, San Miguel, Sandoval, Santa Fe, or Taos County
- Business license, CRS, and a business-only bank account
- In business at least 6 months or more from the opening date of the application process
- Preference given to businesses located in rural areas and those not previously awarded
Requirements
- Each proposal must detail critical purchases that will advance the commercial progress of the company
-
Grant funds can be used to purchase:
- Needed business equipment (computers, printers, manufacturing equipment, construction equipment, restaurant equipment, point of sale (POS) system, etc)
- Consulting services (legal services, e-commerce site development, training, CAD design, equipment installation, etc)
- Specialized software (must be purchased outright, subscription service not eligible)
- If awarded, have the ability to pay for funded purchases and submit paid invoices for reimbursement.
- Complete purchases within 6 months of signed award agreement.
Award Guidelines
- Funds awarded through a competitive process
- Applications reviewed and scored by an independent review panel
- Funds cannot be used to cover the cost of general business expenses/operating capital such as rent, utilities, inventory, insurance, or salaries.
- Gambling, tobacco, or illegal activities will not be funded.
- The full or a partial amount of the total request may be awarded.
- Funds are not awarded upfront but as a reimbursement once purchases are completed and approved.
- Purchases outlined in application cannot be purchased before an award is made and agreement is signed.
Selection Process
- Only proposals that meet the eligibility and proposal requirements will be evaluated.
- Evaluation conducted by Independent review panel of local and regional business experts.
- Evaluation criteria based on potential to create new jobs, increase or diversify revenues for the company, and leverage other investments.
For more information, visit RDC.