Economic Support

Important Resources:

State Resources for Small and Medium Businesses:

Small businesses needing assistance should call 1 (833) 551-0518 for personal support from New Mexico’s Economic Development Department (EDD), or visit their website for a review of all state and federal programs.​

Information for Workers and Businesses Affected by COVID-19

Businesses and Employers: Guidance to Plan and Respond

Please also find COVID-19 guidance for retail workers, issued April 9th, 2020 by the Occupational Safety and Health Administration here.

Disaster Loan Assistance

New Mexico is now eligible for U.S. Small Business Administration Disaster Loan Assistance

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

The New Mexico Economic Development Department (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 and payroll. 

Important Updates from the IRS

Tax Day is now July 15th, 2020. See guidance from IRS here, and FAQs on filing and payment deadlines here.

Unemployment Insurance (UI) Program Progression Under the CARES Act

NMUI

More on Economic Support

July 16, 2020 Press Release

Las Cruces, NM –This week, Rep. Xochitl Torres Small (NM-02) led a bipartisan effort with Representatives John Katko (NY-24), Abigail D. Spanberger (VA-07), and Elise M. Stefanik (NY-21), calling on U.S. Treasury and the Small Business Administration (SBA) to ensure full access to the Paycheck Protection Program (PPP) by allowing small businesses the opportunity and flexibility to seek loan increases if eligible.   

July 2, 2020 Press Release

Washington, D.C. –Today, Congresswoman Xochitl Torres Small (NM-02) released the following statement as President Trump prepares to sign the extension of the Paycheck Protection Program (PPP) through August 8, 2020 into law after passage in both the House and Senate.

April 8, 2020 Blog Post

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Agriculture Industry Resources: Paycheck Protection Program

Frequently Asked Questions

Created April 7, 2020

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April 6, 2020 Blog Post

HeaderSocial Security and the CARES Act

Updated April 2, 2020

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March 31, 2020 Blog Post

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Additional Federally Funded Benefits for Unemployed Individuals:

Helpful Information

Updated April 6, 2020

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March 31, 2020 Blog Post

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Small Business Debt Relief Program: Frequently Asked Questions

Created March 30, 2020

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March 31, 2020 Blog Post

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Additional Resources: Counseling, Training, & Contracting:

Frequently Asked Questions

Created March 30, 2020

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March 31, 2020 Blog Post

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Paycheck Protection Program Loans:

Frequently Asked Questions

Updated April 8, 2020

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March 31, 2020 Blog Post

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Economic Injury Disaster Loans & Emergency Economic Injury Grants:

Frequently Asked Questions

Created March 30, 2020

March 31, 2020 Blog Post

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The Small Business Owner’s Big Picture Guide to the CARES Act

Created March 30, 2020

Download here