Small Business Economic Relief Grant

Small Business Economic Relief Grant is sponsored by City of Albuquerque. The City of Albuquerque's Economic Development Department provides financial support to local for-profit small businesses impacted by public health emergencies to reimburse costs of business interruption.

Entrepreneurial & Start-Up Grants — City of Albuquerque Entrepreneur means: A business located within the City limits of Albuquerque, organized as sole proprietorship, partnership or sole member limited liability company with 50 employees or less and been in operation with the City of Albuquerque after December 31, 2019 and on or before July 15, 2021.

Entrepreneurial & Start-Up Business Grants Business must be registered, have their place of incorporation, and be physically located within the Albuquerque city limits. Business must not have been in operation before December 31, 2019. Business must have been in operation on or before July 15, 2021.

Business must have no unpaid code enforcement liens or be in violation of any state, federal, or local laws. Business must have 50 or fewer full-time equivalent (FTE) employees. (Two part-time employees will count as one full-time).

An employer may use their off-season employee count. Sole-Proprietor/Single Member LLC: New Mexico Business Tax Identification Number documentation, also known as New Mexico Combined Report System (CRS) Current City of Albuquerque business registration City of Albuquerque modified W9 LLC, Partnership, S-Corp, and Corporation: Full 2020 Tax Returns (or 2019 Tax Returns with 2020 extension) including Schedule C or Schedule K-1.

(This requirement does not apply if the business began operations on or after January 1, 2021. Additional documentation to establish business ownership may be required.)

New Mexico Business Tax Identification Number documentation, also known as New Mexico Combined Report System (CRS) Current City of Albuquerque business registration City of Albuquerque modified W9 Current City of Albuquerque business registration City of Albuquerque modified W9 Articles of Incorporation State Tax Exemption Documentation or Internal Revenue Service (IRS) Determination or Affirmation Letter of 501(c)(3) status.

*if entity started before December 31, 2020: 2020 IRS Form 990 or 2019 IRS Form 990 with extension. 990 exempt non-profit organizations such as churches do not need to submit this form. Used to demonstrate business meets NM Tax & Revenue requirements .

To request a copy of a CRS Certificate please call the NM TAP call center at 1-866-285-2996 or email [email protected] and request a CRS Registration Certificate. You may also print out a certificate via the online portal TAP at www. tax.

newmexico. gov Current City of Albuquerque business registration Used to determine business is within City limits and registration is up to date with the City of Albuquerque. To update or request a copy of you City of Albuquerque business registration please email [email protected] City of Albuquerque modified W9 Used to properly administer grant funds.

Can be located at this link . What is the City of Albuquerque Small Business and Entrepreneurial Recovery Grant?

The City of Albuquerque Economic Development Department and the Small Business Office have created a new recovery grant program covering the following categories: Family-Owned Business Grants Mainstreet Business Grants Hotels & Public Safety Grants Arts & Entertainment Business Grants Entrepreneurial & Start-Up Grants The program's mission will be to stimulate local economic activity, and growth for Albuquerque’s economy, with $7.

5 million provided by the American Rescue Plan Act, through one-time grants in the amount of $10,000. When can small businesses apply for the grant? How will the program be funded?

The program will be funded by utilizing $7. 5 million of the City’s allocated American Rescue Plan Act funds. How much can a small business receive through this program?

One-time grants will be available to small businesses located in the City of Albuquerque in the amount of $10,000. An applicant may apply for more than one grant if the businesses meet criteria for multiple grant categories, but only one grant will be awarded per applicant. If I received other relief grant funding, can I still qualify for the ARPA funding grants?

How can a small business use the grant fund? The program will offer one-time grants of $10,000 to qualifying small businesses to cover operating expenses, payroll, permitting, business equipment purchases, business mortgage obligations, business rent, lease payments, surveillance and security improvements, and utility expenditures.

For Hotel & Public Safety Grants may be used for safety and security improvements, such as fencing, security cameras, and secure access. The grant cannot be used for back-owed taxes, liens, or unpaid code enforcement fines. How will the Economic Development Department choose which businesses receive funding among those that qualify?

Are there any businesses not eligible to apply for this grant?

Ineligible businesses include: Businesses with more than 50 full-time (or equivalent) employees (two part-time employees count as one) Businesses located outside the City of Albuquerque Businesses without a current business registration with the City of Albuquerque, and business that were in operation after July 15, 2021 Businesses that sell, produce, manufacture, or distribute any marijuana or cannabis products are not eligible for the grant program What happens after an application is turned in?

Once an application is turned in, it will enter an internal review process. Grant Officers will be working with businesses, checking the application for eligibility, and document verification. Once complete, it will enter a secondary review for final decision.

If you have additional questions or need assistance with your grant application, please email [email protected] or call 505-768-3270. This link will take you to a site over which the City of Albuquerque has no control. The City assumes no responsibility for the content of the material contained at that site or for the accuracy of any information that is found there.

The contents of any site or link not maintained by the City does not necessarily reflect the opinions, standards or policies of the City of Albuquerque, its officials, agents or employees. Questions: [email protected]