May 8, 2020
Money to help micro businesses affected by COVID-19
SANTA FE – The All Together NM Fund will be awarding $750,000 for grants to help New Mexico’s smallest businesses survive the COVID-19 pandemic.
The funding will be divided among four New Mexico nonprofit organizations that will award and administer grants of up to $5,000 for businesses with five employees or fewer.
“Business relief from the federal government has been scattered, and far too much of what was first available went to large businesses. Many micro businesses in New Mexico and elsewhere didn’t get a fair shake,” Gov. Michelle Lujan Grisham said. “So thank you to the All Together NM Fund for reaching out and reaching in to support as many micro businesses as we can. No doubt that’s going to make an incredible difference,” she said.
The nonprofits that will administer the grants are:
- WESST
- Rio Grande Community Development Corp
- NM Community Capital
- DreamSpring
“They were chosen because together they already serve micro businesses across the state and know who and where they are,” said Randy Royster, president and CEO of the Albuquerque Community Foundation who has been spearheading this aspect of the All Together NM Fund grantmaking.
Micro businesses with existing relationships with one of the four nonprofits will receive guidance from the nonprofit about how to apply. Micro businesses seeking more information on the grant process should contact one of the nonprofits directly.
“We’re 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,” Royster added.
The smallest businesses to qualify will be those operated by the owner plus one employee. Recipients will use the grants to make payroll or to buy needed materials.
“The whole idea is we want to positively affect small businesses, especially those owned by women and people of color, that are employing people,” Royster said. “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.
The many donors who made these grants possible include:
- Stanley E. Fulton Family Foundation
- McKinnon Family Foundation
- Blue Cross and Blue Shield of New Mexico
- Intel Foundation
- Pattern Energy
- Blattner Energy, Inc
- Tri-State Generation and Transmission Association
- Illinois #3 Foundation
- RALI New Mexico
- PhRMA
- Virgin Galactic
- Isora Foundation
- Comcast
- Swire Coca Cola
- Daniels Foundation
The Santa Fe Community Foundation is the fund’s administrator.
Donations to the fund are tax-deductible and can be made through the website,
www.AllTogetherNM.org or:
- Donors may contribute gifts of stock, property and electronic fund transfers by calling the Santa Fe Community Foundation at 505-988-9715 ext. 7006.
- Gifts by check can be mailed to the Santa Fe Community Foundation, PO Box 1827, Santa Fe, NM 87504. Please note “All Together NM Fund” on the check itself.
