Have you submitted your CARES act Small Business Continuity Application yet? That is a loaded question because I have seen every application so far and I haven't seen your name on an application yet. I know you're busy right now and you've got other things that you need to focus on but I've got to tell you that one of the smartest things you can do this year is to submit an application for this program which is currently under way.
On September 1, 2020 the New Mexico Department of Finance & Administration announced $150 million in CARES Act grants to local governments across New Mexico to cover the cost of necessary expenditures incurred due to the public health emergency. The Silver City Grant County Chamber of Commerce has been working with The Town of Silver City, Grant County and the mining district to help administer the applications that are coming in for this program. We have been receiving a large number of telephone calls from business owners who are wondering if their business qualifies for this important program. My answer is always the same, "you won't know until you try!" Submit an application and let the process work itself out. The criteria are simple and straight forward and completing your application should be a no-brainer. As long as your business entity is bona fide, currently operating and you have experienced "a loss of revenue due to expenses made responding directly to the health crisis" then you could possibly qualify for a grant award.
According to the press release the following are eligible expenses for small business grants:
Business Continuity:
• Non-owner employee payroll
• Rent, scheduled mortgage payments
• Insurance
• Utilities
• Marketing
Business Redesign:
• Reconfiguring physical space
• Installing plexiglass barriers
• Purchasing web-conferencing or other technology to facilitate work-at-home
• PPE for employees
• Temporary structures to mitigate the spread of COVID-19
The local government entities in Grant County have been awarded money that can be used to make awards to small businesses within each municipality across the county. Working collaboratively these local governments have formed a committee which is evaluating each of the applications submitted. The committee is actively working to make sure that every small business has a chance at qualifying for a grant. The amount of each award will be anywhere between $1000 and $10,000 depending on what is submitted on the application. The amount of award will be based on the total amount of qualifying expenses.
I've said it so many times over the past 7 months that I sound like a broken record but, "we are definitely living in extraordinary times" and the activities we are undertaking to keep our businesses afloat are, sometimes, equally extraordinary. If you've ever tried to apply for grant money being offered by state and federal programs you know that the process is usually time and labor intensive. It's not easy to get grant money awarded to your business so you take whatever opportunities which come your way very seriously. The CARES act Small Business Continuity Grant opportunity is exactly what your business needs right now! There are no guarantees on if you will be awarded grant money, or not, but it is in your own best interest to try. Call us at the chamber if you have questions and take the time to fill out your application. Your local government wants to give you money but you won't get it until you apply for it!
To get more information and to download the application please go to www.silvercity.org and follow the links.