NEW MEXICO (KRQE) – $74.4 million of federal funding has been allocated to New Mexico. The funds will be allocated to operate a collateral support program and an equity capital program to promote small business growth.
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Federal officials say the funding will increase access to capital and promote entrepreneurships as communities come out of the pandemic. The funding comes from the America Rescue Plan’s State Small Business Initiative. Other states to receive funding include Alaska, Idaho, Iowa, Massachusetts, Minnesota, Missouri, Nebraska, Nevada, Ohio and Utah.
