The Regional Development Corporation’s Micro-Grants Funds are small grants available to any type of small business that has an immediate need for a small amount of funding to sustain the company and/or to move it to the next level. A Micro-Grant assists companies that may not be eligible for other types of funding, or are not aware of available funding sources. Companies selected for this award do not give up any equity by accepting funding, and are not required to provide collateral or a personal guarantee.
Awards are made on a competitive basis and are intended to provide small infusions of capital that allow a business to diversify, sustain or grow revenue, leverage other investments, and put proper systems in place that lead to growth in order to create opportunities for job seekers who want to stay in the region. The RDC provides information on other funding opportunities to applicants.
Important Dates: The application process for the next round of Micro-Grant funding will open in early 2021.
Award Size: To be determined.
Eligibility: Small businesses of any type, size, or stage may apply. Proposals relating to gaming, tobacco, or illegal activities will not be funded. Applicants in rural areas of the RDC’s seven county service region will be given preferential consideration. To be eligible, applicants must:
Be a for-profit company with a business license
Be headquartered in Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba, or Taos county
Submit a fully completed Micro-Grant Fund application by the published deadline
Have a specific project in mind with well-defined goals and tasks that will move the company forward and can be completed in 6 months or less from the contract date
Award Guidelines*: Funds are awarded through a competitive process. Awards may be used to procure specialized services or company equipment that will lead to increased revenues and employees. Micro-Grant funds are not available for general development work, general working capital, or salaries. The full or a partial amount of the total request may be awarded. Each proposal must outline milestones/concrete tasks that the funding will help achieve and show how these milestones will sustain or advance the commercial progress of the company.
Selection Process: Proposals that meet the eligibility requirements will be evaluated by an independent review panel of local and regional business experts. Proposals will be evaluated on their potential to create new jobs, increase or diversify revenues for the company, and leverage other investments.
How can I apply for funding?
Check back in 2021 for information on the date of the application process and the deadline. The RDC expects to host a series of workshops throughout the region to share more information about this funding opportunity. Sign up for the RDC newsletter to stay up to date on the latest round of application opening dates, information sessions, and deadlines. Contact firstname.lastname@example.org to learn more.
*Note: Eligibility and award guidelines are subject to change.