The Revitalize Las Cruces Small Business Grant program provides grants to micro and small business owners who have been impacted by the pandemic.
Donor Name: City of Las Cruces
State: New Mexico
City: Las Cruces
Type of Grant: Grant
Deadline: 07/28/2023
Size of the Grant: $10,000 to $25,000
Details:
The program, funded by the City of Las Cruces and administered by LiftFund, has dedicated $1,000,000 in funding to support for-profit small businesses with grants up to $25,000.
Funding Information
- The grants will range from $10,000 to $25,000 to eligible small, for-profit businesses.
- Maximum grant amount is based on reduction in gross revenue when comparing 2019 to 2020 and 2019 to 2021. Grant amount may not exceed applicant’s 2019 gross sales.
- The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs.
Eligibility Criteria
To be eligible for this program, businesses must:
- 2021 annual gross sales a minimum of $10,000 and a maximum of $3 million
- Not conduct a prohibited business activity.
- Gross sales in either 2020 or 2021 must be less than gross sales in 2019. Gross sales are based on Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065.
- Operating prior to January 1, 2020 with documented financials in 2019. “Operational” is defined as a positive amount of gross receipts or sales on the 2019 tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065)
- Be currently in operation. “Currently operational is defined as having positive business sales related deposits on the most recent business bank statement.
- Not have filed for bankruptcy at time of application
- Be in good standing with the New Mexico Comptroller’s office, if applicable.
- Be located within the City of Las Cruces limits.
- Not be in the following categories: non-profits, gambling/gaming businesses, sexually oriented businesses; payday lenders, or real estate investment.
- Applicant must be majority owner of the business.
For more information, visit City of Las Cruces.
