Tue. May 21st, 2024

Udall, Heinrich release guide for Small Business Owners and Non-Profit Leaders

WASHINGTON (KSMX) – U.S. Senator Tom Udall (D-N.M.) and Martin Heinrich (D-N.M.) released a guide to help small business owners and non-profit leaders access new funding included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that passed the Senate, House and was signed into law by the President last week.

The CARES Act contains major provisions to provide relief to small businesses and non-profits hurt by the coronavirus pandemic and its required public health responses including $377 billion in small business aid.

Per the press release from Senator Udall’s office, the guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address the needs of business and non-profit leaders, as well as some additional tax provisions that are outside the scope of SBA.


“Small businesses are the engines of New Mexico’s economy, but they are facing unprecedented challenges during the coronavirus pandemic. Last week, we fought hard to pass $377 billion in emergency funding to provide immediate relief to small businesses across the country. Now, I am focused on ensuring these resources get into the hands of small businesses and nonprofits in New Mexico so that they can continue to make payroll and cover their bills,” said Udall. “Our 150,000 small businesses in New Mexico are truly the heart of our economy –anchoring local communities, employing over 340,000 workers who work hard to support themselves and their families. They are understandably worried not just about the health and safety of their employees but also their ability to keep their doors open and lights on. I encourage New Mexico small businesses to take advantage of this emergency federal relief. I promise to do everything in my power to help our small business owners and non-profit leaders, their employees, and all New Mexicans during this trying time.”


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