All Together NM fund to award $750K in grants
Program targets businesses with five or fewer employees
The All Together New Mexico Fund will award grants specifically to help the states smallest businesses survive the COVID-19 pandemic. The $750,000 in funds will be divided among four New Mexico nonprofit organizations, which will award and administer grants of up to $5,000 to businesses with five or fewer employees.
The nonprofits that will administer the grants include DreamSpring, New Mexico Community Capital, Rio Grande Community Development Corporation and WESST. The Santa Fe Community Foundation administers the All Together NM fund.
Microbusinesses that already work with one of the four nonprofits will receive guidance from that organization about how to apply. Businesses seeking more information on the grant process should contact one of the four nonprofits directly.
The smallest businesses to qualify will be those operated by the owner plus one employee.
Recipients may use the grants to make payroll or buy needed materials.
Randy Royster, president and CEO of the Albuquerque Community Foundation, has been spearheading this aspect of the All Together NM Fund grant funding. “They were chosen because together they already serve microbusinesses across the state and know who and where they are,” Royster said.
Royster added that the fund is committed to getting as much money as possible out to all the counties. “We should not end up seeing a significant portion going to the larger population centers,” he said. “The whole idea is we want to positively affect small businesses, especially those owned by women and people of color, that are employing people. We’re really looking to help vulnerable businesses that are not likely to survive without this infusion of capital.”
The New Mexico Coalition of Community Foundations started the All Together NM Fund in March to help New Mexico meet immediate needs during the COVID-19 pandemic and offer long-term support for the recovery work that lies ahead.
Donations to the fund are taxdeductible and can be made at www.AllTogetherNM.org or by texting “together” to (505) 3334714.
The All Together NM Fund will target microbusinesses (5 or fewer employees) with $750K in COVID-19 relief grants.
To donate stock or property or make electronic fund transfers, call the Santa Fe Community Foundation at 505-988-9715, ext. 7006. To donate by check, mail it to the Foundation at PO Box 1827, Santa Fe, NM 87504.