RDC’s Micro-Grant Fund provides a small infusion of capital to help businesses diversify, sustain or grow revenue, leverage other investments, and put systems in place that lead to growth and create job opportunities. The RDC provides technical support and information on other funding opportunities to all applicants, regardless of whether or not they are awarded funding.

Our goal is to sustain and assist developing businesses in Northern New Mexico with job creation and diversifying the region’s economy.

AWARD SIZE:
$500- $3,000

IMPORTANT DATES:

• 2023 Application Process Closed: May 12th, 2023

• Micro-Grant Fund Information Session:
  Potential applicants are encouraged to attend before applying in order to submit the best possible application.

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ELIGIBILITY:

• For-profit business of any type, size, or stage

• Headquartered in either Los Alamos, Mora, Rio Arriba, San Miguel, Sandoval, Santa Fe, or Taos County

• Business license, CRS#, and a business-only bank account

• In business at least 6 months or more from the opening date of the application process

• Preference given to businesses located in rural areas and those not previously awarded

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REQUIREMENTS:

• Each proposal must detail critical purchases that will advance the commercial progress of the company

• Grant funds can be used to purchase:*

  • Needed business equipment (computers, printers, manufacturing equipment, construction equipment, restaurant equipment, point of sale (POS) system, etc) 

  • Consulting services (legal services, e-commerce site development, training, CAD design, equipment installation, etc)

  • Specialized software (must be purchased outright, subscription service not eligible)

• Submit an application by the May 12th deadline.

• If awarded, have the ability to pay for funded purchases and submit paid invoices for reimbursement.

• Complete purchases within 6 months of signed award agreement.

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AWARD GUIDELINES:

• Funds awarded through a competitive process

• Applications reviewed and scored by an independent review panel

• Funds cannot be used to cover the cost of general business expenses/operating capital such as rent, utilities, inventory, insurance, or salaries.

• Gambling, tobacco, or illegal activities will not be funded.

• The full or a partial amount of the total request may be awarded. 

• Funds are not awarded upfront but as a reimbursement once purchases are completed and approved.

• Purchases outlined in application cannot be purchased before an award is made and agreement is signed.

SELECTION PROCESS:  

• Only proposals that meet the eligibility and proposal requirements will be evaluated.

• Evaluation conducted by Independent review panel of local and regional business experts.

• Evaluation criteria based on potential to create new jobs, increase or diversify revenues for the company, and leverage other investments.

HOW TO APPLY?

• Online Application

• Sample Application

• Please note: The application cannot be saved in-process for completion at a later time. Please review sample application to have your answers ready for input.

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QUESTIONS:
Carla Rachkowski, Director of Operations

The Micro-Grant Fund is made possible due to generous support from: