RDC News:The RDC’s announces three new funds to help maintain and/or build businesses that drive economic growth in rural, Native American and urban communities:
- Micro-Loan Fund;
- Technology & Manufacturing Fund; and
- Tribal Diversity Fund.
These funds fill a unique niche, allowing small businesses that lack collateral for debt financing to receive funding support without giving away any ownership of the company.
Awards are made on a competitive basis and are intended to provide infusions of capital that allow a business to diversify, sustain or grow revenue, leverage other investments, and put proper systems in place that lead to growth in order to create opportunities for job seekers who want to stay in the region. Due to limited funds, apply immediately. The three new funds are the:
Small businesses of any type, size, or stage may apply. Applicants in rural areas of the RDC’s seven county service region will be given preferential consideration. Applicants must:
- Be a for-profit company with a business license;
- Be headquartered in Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba, or Taos county;
- Submit a fully completed Micro-Loan Fund application by the published deadline; and
- Have a specific project in mind with well-defined goals and tasks that can be completed in 6 months or less from the contract date.
This is a no-interest loan. Applications accepted at any time and evaluated on an ongoing basis while funding lasts or until 5 p.m., Sept. 18, 2019, whichever comes first.
Technology* or Manufacturing business of any size or at any stage may apply. Applicants must:
- Be a for-profit company with a business license.
- Be headquartered in Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba, or Taos county
- Demonstrate that at least 50% in matching capital has been secured within the past 6 months or will be secured before the award is received. Time invested in the business or “sweat equity” does not qualify towards the financial match.
- Submit a TEAM Fund application on or before the published deadline.
- Have a specific project in mind with well-defined goals and tasks that can be completed within 6 months from the contract date.
*Note: “technology” implies that the company has an innovation (often protected by trade secret, “know-how” or intellectual property), NOT that the company uses technology or provides a non-proprietary technology service such as web development.
Applications accepted at any time and evaluated on an ongoing basis while funding lasts or until 5 p.m., Aug. 23, 2019, whichever comes first.
Business enterprise must be at least 51% owned and controlled by a tribal member are eligible to apply. Applicants must:
- A tribal member or corporation of the Pueblos of Nambe, Ohkay, Picuris, Santa Clara, Pojoaque, Taos, San Ildefonso, Tesuque, Cochiti or Jemez.
- Business must be headquartered in the counties of Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba or Taos.
Applications accepted at any time and evaluated on an ongoing basis while funding lasts or until 5 p.m., Sept. 18, 2019, whichever comes first.
