The ADDITIONAL CARES Business Continuity Grant funding of $100 million from the recent Special Session will be administered through the New Mexico Finance Authority. They are communicating the application will open at noon on Monday, December 7th. You can see more information and submit the application via their website: https://www.nmfinance.com/small-business-recovery-loan-fund-2021/ . If you have other questions, you can call them at 505-992-9696 or email them at cares@nmfa.net.
Through the Coronavirus Relief Fund, the CARES Act provides for payments to State, Local, and Tribal governments navigating the impact of the COVID-19 outbreak.
The CARES Act established the $150 billion Coronavirus Relief Fund.
The U.S. Treasury has made payments from the Fund to States and eligible units of local government; the District of Columbia and U.S. Territories (the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands); and Tribal governments (collectively “governments”).
The CARES Act requires that the payments from the Coronavirus Relief Fund only be used to cover expenses that—
1. are necessary expenditures incurred due to the public health emergency with respect to the Coronavirus Disease 2019 (COVID–19);
2. were not accounted for in the budget most recently approved as of March 27, 2020 (the date of enactment of the CARES Act) for the State or government; and
3. were incurred during the period that begins on March 1, 2020, and ends on December 30, 2020.
Guidance on eligible uses of Fund disbursements by governments is available below.