N.M. Economic Development Department: N.M. Small Businesses Urged to Apply Quickly for Federal Stimulus Loans
The New Mexico Department of Economic Development issued the following news release:
New Mexico small businesses in financial distress due to the coronavirus crisis are encouraged to apply as soon as possible for loans made available under the federal stimulus bill.
The stimulus bill, or Cares Act, allocates $349 billion for loans to small businesses. But businesses have until only June 30 to access the money, and loans will be made on a first-come, first-serve basis.