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Tribal Economic Diversity Fund

RDC's Tribal Economic Diversity Fund awards businesses owned by a federally recognized Indian tribe or by an enrolled member(s) of a federally recognized Indian tribe for critical technical services and equipment. Awards are made on a competitive basis and are intended to provide services to tribal business entities that diversify revenue, leverage other investments, create new jobs and/or put systems in place that lead to growth.  

 

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

AWARD SIZE:
Up to $8,000

IMPORTANT DATES:

  • Application process opens: The annual application process is expected to open Summer 2023

  • Applications due:  One month after application process opens

ELIGIBILITY:

  • Business enterprise owned by a federally recognized Indian tribe; or business owned at least 51% by an enrolled member(s) of a federally recognized Indian tribe from the Pueblos of Cochiti, Jemez, Nambe, Ohkay, Picuris, Pojoaque, San Ildefonso, Santa Clara, Taos, or Tesuque

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

  • Business-only bank account encouraged

  • Been in business for at least 6 months before applying

  • Preference given to first-time applicants and previous unawarded applicants

  • Funds to be used to:

    • Procure needed business equipment

    • Pay for advertising and/or marketing costs 

    • Purchase consulting services

    • Purchase specialized software

 

REQUIREMENTS:

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

  • Submit a Tribal Economic Diversity Fund application by August 15, 2022.

  • Unless other arrangements have been made upfront and approved, 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 (unless a prior approved arrangement has been made) but as a reimbursement to awardees' business once purchases are completed and approved.

  • Purchases or services outlined in application cannot be purchased before an award is made and a fully executed award agreement is in place.


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?

  • Application download here

  • More Application information download here

  • Need Application Assistance: info@rdcnm.org

QUESTIONS:
Email info@rdcnm.org or call (505) 901-7019


The Tribal Economic Diversity Fund is made possible due to generous support from:


 

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