The Local Economic Development Act (LEDA) Recovery Grants were created by the State of New Mexico in the 2021 Legislative Session by House Bill 11 to provide $200 million in grant funding to New Mexico small businesses that are experiencing financial hardship due to the pandemic. These grants are specifically tied to job creation, must be used as reimbursements of rent, lease or mortgage payments, and are prioritized based on the severity of economic decline experienced by the business. This program is administered by NMFA on behalf of the New Mexico Economic Development Department.

Who can apply for a LEDA Recovery Grant?

• A business operating in New Mexico
• A business that has at least one but fewer than 75 full-time or part-time employees employed at any of the business’s locations
• A business that is current on all state and local tax obligations, and
• A business that experienced a decline in business revenue between comparable quarters in taxable years 2019 and 2020

Non-profits are eligible to apply.

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