The Center is communicating with the cities of Raton and Trinidad to gather information regarding resources for our small business communities to help us weather the storm of COVID-19. Below is a collection of links to financial supports and other resources at the Federal, State and local levels.
For other resources, including some corporate efforts to help small business and tips on how to survive this mess, we are posting everything of potential value at the bottom of this page. Click Here to see this list.
If you find a resource not on this list, or have some feedback to share with others on a resource, please email us at firstname.lastname@example.org
With the stimulus bill, some relief is being funneled through the IRS. Here is their web page with corona virus info:
Here is a link to a fact sheet on the "Families First" payroll tax relief:
Note there are some new tax relief provisions in the recent legislation. These are very incomplete descriptions, but enough to show that we should all be calling our accountants!
- Building improvement costs can be immediately written off, rather than depreciating over 39 years.
- Net operating losses can be taken off of prior year's income.
The SBA has two loan programs to consider. The Economic Injury Disaster Loans for businesses (3.75%) and non-profits (2.75%) is new. Their website is overwhelmed with visitors so it hardly functions at this time, but hopefully that gets sorted out soon.
The SBA Express Bridge Loans are for under $25k and have "expedited" processing. Info on both loan programs here:
Here is a good Powerpoint presentation that has details about their programs:
And another, shorter summary:
State of Colorado Resources
The State of Colorado Office of Economic Development and International Trade hosts extensive info and may be the best place to track updates on Federal Relief that gets directed to Colorado.
Gov. Polis has established the Governor’s Emergency Council for Economic Stabilization and Growth with subcommittees targeting key economic sectors. Check OEDIT website for updates from this Council.
The Colorado SBDC website has a collection of links to resources and is a great place to go for the latest information for Federal and State updates.
Colorado Creative Industries has information tailored to those working in the creative economy, with many links to national organizations so even if you are a creative entrepreneur located in NM you should check out this site.
State of New Mexico Resources
The New Mexico Economic Development Department is adjusting their business-loan guarantee programs in order to make capital more available to business owners whose operations are severely impacted by the COVID-19 health emergency. Thier page will be updated as they find more aide programs.
Here is a very concise summary of resources published by NMEDD on 3/26:
Here is a link to the NMEDD survey of businesses - please complete this at your earliest convenience: https://www.surveymonkey.com/r/JYNJPDM
The New Mexico SBDC site has a host of links to Federal and State websites. They have some links to business supports aimed at helping businesses navigate this difficult time.
The City of Raton is establishing a micro-loan fund for local businesses that have been adversely affected by the pandemic. The details and application will be published in early April as they work out the legal structure to implement this assistance. Please check back for updates.
Utility bills have some measure of relief from RPS. Utility cut-offs are suspended and some extended payments are available. Contact RPS with your information to learn more.
The City of Trinidad is urgently working through details for financial assistance to businesses and residents that have been severely impacted by the state mandated closures and restrictions. Initial steps should be released the first week of April with additional measures published as soon as the legal framework is approved.
Other Resources and Ideas
Main Street America has assembled a very thorough list of resources, including info on a Facebook grant and other corporate efforts to support small business. This site is definitely worth a visit!
Need an easy website to set up to help online sales? Check out this site. It is being touted in various places as a great way to get a website up quickly. We can't vouch for how well it works, but it seems to have good reviews.
The Craft Emergency Relief Fund has a fund to assist craft artists.
PEN America has an emergency fund for writers.
Microgrants for musicians.
Microgrants for musicians.
Website with consolidated info on resources, funds, etc. for freelance artists.