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New Mexico Economic Development Department – COVID-19 Business Loan Guarantee Program

Agency / Department: New Mexico Economic Development Department

Resource: COVID-19 Business Loan Guarantee Program

Details: 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.

Link: https://www.newmexico.gov/2020/03/13/new-mexico-offers-new-loan-program-priority-assistance-to-virus-impacted-businesses/

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