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Frequently Asked Questions About the Small Business Economic Relief Grant

What is the City of Albuquerque Small Business Economic Relief Grant?

The Small Business Economic Relief Grant program 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. 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.

When can small businesses apply for the grant?

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:        

  • November 30, 2020: Grant program – OPENS
  • December 11, 2020: Grant program – CLOSES

December 30, 2020: Grant funding DEADLINE

How will the program be funded?

The program will be funded by utilizing $10 million of the City’s allocated CARES Act 2020 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, up to an aggregate amount of $10,000, making those who have previously received more than $10,000 of COVID-19 grant relief 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.

If I received relief grant funding from the City of Albuquerque (Micro-Business Relief Program), Bernalillo County or the State, can I still qualify for the City grants under the CARES Act?

Yes, but your cumulative relief grant funds total cannot exceed $10,000.

How can a small business use the grant fund?

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.

How will the Economic Development Department choose which businesses receive funding among those that qualify?

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.

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

Ineligible businesses include:

  • Any business whose patrons must be age 18 or older
    • For example:
      • Adult entertainment and adult retail establishments
      • Nightclubs
      • Bars
      • Smoke Shops
  • Non-Profit Organizations
  • Franchised businesses that are franchisor-owned
  • Small businesses who received an aggregate amount of grant relief funds exceeding $10,000 from either city, county or state sources

I see that there’s a 7-day time limit to submit documents for the grant program, otherwise an application becomes inactive. Will I have to reapply?

If an application fails to provide all valid documents within the 7-day time limit, the application becomes inactive. The applicant will need to log into their grant account portal and reapply in the subsequent funding rounds, if there are any.

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 checking the application for eligibility and document verification. Once complete, it will enter a secondary review for final decision. Once a final decision is made, the application will be submitted for funding.