Small business grants available to reimburse costs

Deadline to apply is Oct. 9

The town of Taos is accepting applications for Coronavirus Aid Relief Funds from the state to reimburse costs incurred by businesses due to the COVID-19 pandemic.

WHAT: Small business continuity grant CARES Act Relief Funds APPLICATION PERIOD: Sept. 21 - Oct. 9, 2020

PROOF REQUIRED: Funds will be provided on a reimbursement basis. (Grantees must submit clear copies of invoices and proof of payment. This is required for federal audit purposes.) Documentation regarding payroll expenses will be required.

What costs are covered:

• Necessary expenditures incurred due to the public health emergency related to coronavirus disease 2019 (COVID–19); and

• Incurred between March 1 and Dec. 30, 2020.

• Grant proceeds must be spent on eligible “business continuity” expenses. In addition, you may qualify for additional funding for “business redesign” expenses necessary to adopt COVID-Safe practices. Eligible expenses for both portions of this grant program are outlined below.

Who can apply?

• Small businesses with 50 or fewer full-time equivalent employees in the town of Taos limits as long as funding remains for the program.

• To be eligible, your company must be headquartered in New Mexico and either have been forced to close or severely curtailed business operations as a result of closure orders from the state and have an annual revenue of $2 million or less prior to the impact of COVID-19. The business must also have had a start date of March 1, 2019 or prior.

• For-profit businesses headquartered in New Mexico.

• Expenses being claimed are for a business that is physically located within the town of Taos limits.

• Retail, manufacturing and service industry businesses will receive priority.

Who is not eligible to apply?

• Businesses headquartered outside of New Mexico;

• Businesses with more than 50 full-time equivalent employees;

• Businesses with annual revenue exceeding $2 million;

• Businesses that started after March 1, 2019;

• Businesses that were not forced to close or had severely curtailed business operations as a result of closure orders from the state;

• Professional corporations, government entities, foundations and nonprofits.

What documents are required to apply?

• Completed online application form;

• Certificate of good standing;

• Copy of your payroll to include March 1, 2020;

• Most recent payroll at time of application;

• Documentation of March and April 2019 total gross receipts;

• Most recent taxes documenting net taxable income;

• Unemployment insurance tax documentation for the fourth quarter of 2019;

• Completed W9 form;

• Voided check or bank letter with account/routing info (if applicable). Payments will be made directly into the small business bank account. By providing us this information, you certify that the information provided is correct and you authorize the municipality to initiate credits for corrections to the financial institution.

What expenses will be covered?

• Business Continuity:

• Nonowner 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 such as tents to mitigate the spread of COVID-19.

HOW TO APPLY: Online at taosgov. com.

CONTACT INFORMATION: For questions regarding this application, email Lynda Perry, grants and revenue development director at the town of Taos, at lperry@taosgov.com.