Economic Development Department Receives High Number of Applicants for Family-Owned Business and Startup Grant Categories
Aug. 4, 2021
The City of Albuquerque Economic Development Department (EDD) today announced that the Small Business + Entrepreneurial Recovery Grant Program has received a high volume of applicants in the Family-Owned Business and Entrepreneurial & Startup categories, and will be closing applications to both grants. Applications are still being accepted for Mainstreet Business Grants, Hotels & Public Safety Grants, Arts & Entertainment Business Grants, and Youth & Education Grants.
Applications for all grants are being reviewed on a first come, first served basis, and the first check pickup event will be held on Aug. 27 at John Marshall Health & Social Services Center. This new economic relief grant program is available to local small businesses and non-profits, with the mission of stimulating local economic activity and growth through one-time grants in the amount of $10,000.
“Our team will be working quickly to get these grants out into our small business community,” said Synthia R. Jaramillo, director of EDD. “The high number of applications received today is proof that businesses need support in recovery, and we encourage businesses to apply for the other four grant categories, and to take advantage of the small business programming we have available year-round.”
The Small Business + Entrepreneurial Recovery Grant Program is now available to Albuquerque small businesses in the following categories:
- Mainstreet Business Grants
- Hotels & Public Safety Grants
- Arts & Entertainment Business Grants
- Youth & Education Grants
In order for businesses to be eligible for Small Business + Entrepreneurial Recovery Grants, a business must have no more than 50 full-time employees including the owner (two part-time employees will be equivalent to one full-time employee); been in business on or before July 15, 2021; have a current and valid City of Albuquerque business registration license; and be located within Albuquerque city limits, among other requirements. Businesses that previously received Covid-19 relief funds from other state, county, or municipal sources will still be able to receive funding.
Early in the pandemic, the City offered $750,000 in direct business support grants to 150 local businesses with the help of the One Albuquerque Fund, even before CARES Act funding was available. In addition, the City utilized nearly $1 million to purchase locally-sourced PPE, specifically for small businesses, and in the fall launched a $10 million small business grant program, awarding 1,000 businesses in Albuquerque with relief funding.
The Keller administration waived more than $1 million in small business fees in 2020, and by fast-tracking construction projects, the City invested $120 million to ensure local construction workers continued to earn a paycheck. More than 104 local restaurants received $364,500 in grants to expand outdoor seating, and the City invested nearly $100,000 to support local food businesses in Outdoor Food Truck Courts and Growers Markets.