Help for Businesses Negatively Impacted by the COVID-19 Health Emergency

The New Mexico Economic Development Department (NMEDD) is adjusting its business-loan guarantee programs in order to make capital more available to business owners whose operations are severely impacted by the COVID-19 health emergency. Additionally, the department is working with partners across the state to identify special assistance programs and resources available to business owners.
 

COVID-19 Business Loan Guarantee Program

NMEDD has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for (and not limited to) the following:

• Working capital
• Inventory
• Payroll

Contact Johanna Nelson for more information:
Johanna.Nelson@state.nm.us
505.469.6204.

 

LEDA Zero-Percent Interest Loans

• Limited to expenditures for land, building and infrastructure
• Can be used for lease abatement or mortgage assistance
• Company must be a qualified entity (manufacturer, non-retail service business with more than 50% of revenue generated out of state)
• All loans will be required to provide security equal to the amount of the loan

For assistance with LEDA loans, find & contact your Regional Representative, or contact Mark Roper, Mark.Roper@state.nm.us or 575.562.0327