Tribal Economic Diversity Fund
The Tribal Economic Diversity Fund makes awards to business enterprises owned by a federally recognized Indian tribe or businesses owned by an enrolled member(s) of a federally recognized Indian tribe in RDC service area for critical technical services and equipment. Awards are made on a competitive basis and are intended to provide services to tribal business entities that allow the company to diversify revenue, leverage other investments, create new jobs and/or put systems in place that lead to growth.
Important Dates: The application process for this year's Tribal Economic Diversity Fund will open
in July 2022 (exact date TBD).
2021 Award Size: $1,000 to $8,000
A tribal member or federally recognized Indian tribe of the Pueblos of Nambe, Ohkay, Picuris, Santa Clara, Pojoaque, Taos, San Ildefonso, Tesuque, Cochiti or Jemez
Business or business enterprise must be at least 51% owned and controlled by a tribal member and headquartered in Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba or Taos counties and have a business checking account
Business or business enterprise must have been in business for at least 6 months before applying
Preference will be given to first-time applicants and those who applied in the past but were not awarded
Award Uses: Awards are made on a competitive basis and may be used to procure specialized services, specialized software, or equipment for the business which will lead to increased revenues, diversification of product lines, and/or employees. For example, a business may need:
Additional or specialized equipment such as large format printers, tools, or manufacturing equipment
New accounting software or an inventory control system
Consulting services to select, install, and/or train staff on specialized accounting software required for federal government contracting
What will not be funded: Funds cannot be used to pay for regular operating expenses such as rent, utilities, inventory, raw materials, or salaries. Proposals relating to gaming, alcohol, tobacco, or illegal activities will not be funded.
How funding is awarded: Cash awards will not be made directly to awardees. Upon receipt of a paid invoice, the awardee's business will be reimbursed for products or services awarded under the grant. These products or services should not be purchased until a fully executed award agreement is in place.
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? The next round of Tribal Economic Diversity grant funding will open in July of 2022 and close one month later. Sign up for the RDC newsletter to stay informed about this and other funding opportunities.
*Note: Eligibility and award guidelines are subject to change each year.