Translate Our Site

Small Business Economic Relief Grant

The City of Albuquerque Economic Development Department (EDD) seeks to provide financial support to local small businesses impacted by the public health emergency to reimburse the costs of business interruption caused by required restrictions.

**UPDATE** These specific Small Business Relief Grants are a one-time payment of up to $10,000. Albuquerque City Council amended the ordinance regarding the grants to allow for businesses who had previously received $10,000 or more in COVID-response funding from other state, county, or municipal sources to be eligible for this grant, but businesses who have already received payment from the Small Business Relief Grants are not eligible to apply again.

For additional Business Resources please click here.

Program Summary

The City of Albuquerque Economic Development Department (EDD) seeks to provide financial support to local for-profit small businesses impacted by the public health emergency to reimburse the costs of business interruption caused by required restrictions. The Albuquerque City Council has appropriated $10 million of CARES Act funding for the creation of the City of Albuquerque Small Business Economic Relief Grant program. This program intends to support the economic sustainability of Albuquerque small businesses and preserve jobs.

The program will offer one-time grants up to $10,000 to qualifying small businesses to cover payroll, rent, utilities, inventory, other necessary business expenses, or other direct business losses due to destabilizing events associated with the COVID-19 pandemic.

One-time grants will be available to small businesses located in the City of Albuquerque, up to an aggregate amount of $10,000, making those who have previously received $10,000 or more of COVID-19 relief grant funds from the city, county, or state sources ineligible. COVID-19 grant relief funds received by applicants from municipal, county, or state sources will be deducted from the $10,000 grant.

Upon successful completion of the application, the grantees will be awarded on a first come, first serve basis unless the grants are oversubscribed. If the grant process becomes oversubscribed, the program will move to a lottery system. The City of Albuquerque Economic Development Department reserves the right to change the program process as it sees fit.

City of Albuquerque small business can apply for the grant during the three rounds of funding for the program.

Round 1:

  • October 26, 2020: Grant program – OPENS
  • October 30, 2020: Grant program – CLOSES

Round 2:        

  • November 9, 2020: Grant program – OPENS
  • November 13, 2020: Grant program – CLOSES

Round 3:        

  • December 7, 2020: Grant program – OPENS
  • December 11, 2020: Grant program – CLOSES

December 30, 2020: Grant funding DEADLINE

Eligibility Requirements

  • The business must have 50 or fewer full-time employees (two part-time employees will be equivalent to one full-time employee);
  • Business must be registered, have their place of incorporation, and be 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 1 year;
  • Funds must be deposited into a business bank account and only be used for business expenses;
  • Funds cannot be used to pay taxes;
  • Business owners must provide summary of results of the grant after six months of receipt;
  • Franchised businesses that are franchisor-owned will not be eligible for award;
  • Franchises that are independently-owned and operated businesses registered within the state of New-Mexico are eligible for award subject to the remaining conditions of the program;
  • Non-Profits are ineligible;
  • Adult entertainment and adult retail establishments, nightclubs, bars and smoke shops, will not be eligible for award.

Documents Required

An applicant has 7 calendars days to submit all the required documentation before their application becomes inactive.

  1. Full copy of 2019 tax returns or copy of 2018 tax returns with the letter of 2019 tax extension;
  2. NM CRS documentation;
  3. Current City of Albuquerque business registration;
  4. City of Albuquerque modified W9;
  5. Financial documents demonstrating sales decrease due to COVID-19 (2019 and 2020 Q1 and/or Q2 - Example - Profit and Loss and Balance Sheet or business bank statements)
  6. Employment verification (one of the following):
    • W-3 Summary
    • Payroll Report/Summary
    • Q2 Form 941
    • 1040 Schedule SE

Application Link

http://albuquerque.force.com/abqgrant

Model for Success

Frequently Asked Questions

Sample Documents:

  1. Full copy of 2019 tax returns or copy of 2018 tax returns with the letter of 2019 tax extension;
    Used to determine business legitimacy.
  1. NM CRS documentation;
    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

  1. 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 renew expired business registrations, please contact Melanie Benavidez at
    [email protected].
  1. City of Albuquerque modified W9;
    Used to properly administer grant funds. Can be located at https://www.cabq.gov/dfa/onlineservices/modified-w9-supplier-form
  1. Financial documents demonstrating sales decrease due to COVID-19 (2019 and 2020 Q1 and/or Q2 - Example - Profit and Loss and Balance Sheet or business bank statements)
    Used to validate business interruption. Profit and Loss template can be downloaded here.
  1. Employment verification (one of the following)
    Used to determine business has 50 or fewer full-time equivalent employees (two part-time employees will be equivalent to one full-time employee).