NEW MEXICO ECONOMIC
DEVELOPMENT DEPARTMENT

Disaster Recovery Resources

SBA U.S. Small Business Administration – Office of Disaster Assistance (ODA)

Small Business Association Disaster Relief Loan

Physical Damage Loans
Loans to cover repairs and replacement of physical assets damaged in a declared disaster.

Economic Injury Disaster Loans (EIDL)
This loan provides economic relief to small businesses and nonprofit organizations that have suffered damage to their home or personal property.

Mitigation Assistance
Funding to cover small business operating expenses after a declared disaster.

Recovery Hub
Find everything you need to rebuild your small business, keep employees safe and healthy, and revitalize your community

 

IRS Tax Relief in Disaster Situations – IRS offers some tax relief and extensions for fire recovery/federally designated disaster areas.

An affected taxpayer includes:

  • An individual
  • Any business entity or sole proprietor
  • Any shareholder in an S Corporation
    1.  

A taxpayer does not have to be located in a federally declared disaster area to be an “affected taxpayer.” Taxpayers are considered “affected” if records necessary to meet a filing or payment deadline postponed during the relief period are located in a covered disaster

 

USDA Rural Development 

Serving NM Grant Application Survey

Serving New Mexico Fund offers financial assistance to restaurant and hospitality workers facing an unanticipated hardship. This application is for a financial grant to help employees pay bills during the COVID-19 crisis.

 

Small Business Recovery Loan Fund 2012 makes available nearly $500 million to provide loans to businesses that experienced financial hardship resulting from the COVID-19 pandemic. The loan amount is up to three times your average adjusted monthly business expenses from 2019 or 2020, not to exceed $150,000. The interest rate is one-half of the Wall Street Journal prime rate on the date the loan is approved. Currently, the interest rate is 1.625%. Applications are open. 

Regional Disaster Recovery Coordinators: