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Micro-Grant Fund

RDC’s Micro-Grant Fund provides a small infusion of capital that helps 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:

  • Application process opens: The annual application process opens once a year in the spring. The next application cycle will occur in March or April of 2023. 

  • Applications due: One month after the opening of the application cycle.

  • Mandatory Micro-Grant Fund Info Webinar: Potential applicants are required to attend a one hour information webinar before applying.

ELIGIBILITY:

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

  • 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

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

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

  • Funds to be used to:

    • Procure needed business equipment

    • Pay for advertising and/or marketing costs 

    • Purchase consulting services

    • Purchase specialized software

 

REQUIREMENTS:

  • Attend Mandatory Micro-Grant Fund Info Webinar.

  • Outline specific purchases that can be completed within 6 months from award date

  • Submit a Micro-Grant Fund application by May 2, 5:00 pm.

  • Pay for funded purchases and submit paid invoices for reimbursement

AWARD GUIDELINES:

  • Funds are awarded through a competitive process.

  • Applications will be reviewed and scored by an independent review panel.

  • Award is not available for general business expenses (ex: rent, utilities, inventory, insurance) or salaries.

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

  • Each proposal must describe a critical project that will advance the commercial progress of the company, increase revenues, and/or add jobs.

  • 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 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?

  • Sample application for review here.

  • Online application link will be emailed to applicants following Mandatory Micro-Grant Fund Info Webinar. If you are not able to attend the Webinar and are interested in applying, email and ask how to proceed.

 

NOTE:
Award size, eligibility, and award guidelines are subject to change.

 

QUESTIONS:
Carla Rachkowski, Director of Operations, Carla@rdcnm.org, (505) 901-7019


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


 

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