Today, Mayor Tim Keller and the City of Albuquerque Economic Development Department announced a $500,000 Micro-Business Relief Program to provide vital economic support to small businesses needing assistance in overcoming the temporary loss of revenue due to COVID-19. The City of Albuquerque will provide working capital grants of up to $5,000 for qualifying small businesses impacted by COVID-19. The City of Albuquerque will begin accepting applications today, Monday, March 30, 2020.
The City of Albuquerque Micro-Business Relief Program is a grant program offering up to $5,000 in direct assistance to individual small businesses meeting eligibility requirements to use for sustaining operations during and after COVID-19. Requirements include, but are not limited to:
- The business must have 5 or fewer employees, including the owner/s.
- The business must be registered and physically located within the Albuquerque city limits.
- The business must have experienced financial hardship due to COVID-19.
- The business must have been in business for at least 6 months.
- Grant funds must be deposited into a business bank account and only be used for business expenses. The City of Albuquerque will make electronic deposits.
- Business owners must agree to provide a report about the use and results of the grant funds six months after receipt.
- Businesses that are franchises or restricted to patrons above the age of 18 or older will not be eligible for award (for example, bars or smoke shops).
**Other eligibility criteria apply, see the application for details.
Applications are available in English and Spanish, and in other languages upon request. The Economic Development Department has staff available to assist business owners complete the application, including Spanish-speaking assistance. Applications will be reviewed as they are received until the monies have been expended.
For information and application please visit https://link.cloudtransitserver.com/u/62be99bc/qFVmi7Zy6hGqgwAaMy1kxg?u=https%3A%2F%2Fbit.ly%2F3azirVm