AWARD SIZE:
Up to $20,000.00

IMPORTANT DATES:

• 2024 Application Process Closed: March 17, 2024

• TEAM Fund Information Sessions:
  Applicants are highly recommended to attend before applying in order to submit the best possible application.

  • Taos TEAM Fund Info Session: February 20: 1:00-2:00 pm
    Taos Visitor Center/Taos Pueblo Collective Center Conference Room, 1201 Paseo Del Pueblo Sur, Taos, NM 87571 

  • Santa Fe TEAM Fund Info Session: February 27: 11:00 am-Noon
    Santa Fe Business Incubator, Conference Room B, 3900 Paseo del Sol, Santa Fe, NM 87507

  • Online-only TEAM Fund Info Session: March 6: 11:00 am-Noon

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ELIGIBILITY:

• For-profit Manufacturing or Technology business

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

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

• In business at least 1 year from the opening date of the application process

• Preference given to those not previously awarded

• Funds to be used to:

  • Procure needed business equipment

  • Purchase consulting services

  • Purchase specialized software

 

Note: “Technology” here refers to innovation (often protected by trade secret, “know-how,” or intellectual property) and is not a reference to a business that uses technology or provides a non-proprietary technology service such as web development.

REQUIREMENTS:

• Demonstrate matching capital

• Outline specific purchases with costs that will be made within 6 months from award date

• Submit a TEAM Fund application by the deadline

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 development work, general working capital (ex: inventory, rent, utilities, materials), 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 awarded after purchases are completed and paid receipts approved.  

• Businesses selected for this award do not give up any equity by accepting funding, and are not required to provide collateral or a personal guarantee.

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 ability to demonstrate that matching funds have been or will be secured.

REPAYMENT:

• Repayment plan will be discussed when project is complete (6 months after award)

• Awardees will be obligated to immediately repay any unpaid amount of the loan if they relocate out of state or sell the business within 3 years of the date of the award.

 
HOW TO APPLY?

• Online Application: Application period closed March 17, 2024

• 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.

QUESTIONS:
Carla Rachkowski, Director of Operations

The TEAM Fund is made possible due to generous support from: