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Which Economic Recovery Tool is Right for You?

  • Maintaining or even expanding headcount?
    EIDL Loan with up to $10,000 grant advance Payroll Protection Program (forgiveable loand, short-term cash injection for payroll). You can find eligible lenders here. You can also find the US Chamber Small Business Guide and Checklist here. ERTC - Employee Retention (refundable) Tax Credit (preserves cash and/or back-end cash flow. No loan application today. Augmented for <100 EE/HC) Employer Side Social Security Deferral (preserves cash, no loan application today)
  • Open, keeping your head above water?"
    EIDL Loan with up to $10,000 grant advance ERTC - Employee Retention (refundable) Tax Credit (preserves cash and/or back-end cash flow. No loan application today. Augmented for <100 EE/HC) Employer Side Social Security Deferral (preserves cash, no loan application today) NMEDD Loan Guarantee (administered by local NMEDD staff, strong desire to help)
  • In a position to restore headcount by June 30 (ideally with a re-hire ramp starting by 5/1)?
    EIDL Loan with up to $10,000 grant advance Payroll Protection Program (forgiveable loand, short-term cash injection for payroll). You can find eligible lenders here. You can also find the US Chamber Small Business Guide and Checklist here. ERTC - Employee Retention (refundable) Tax Credit (preserves cash and/or back-end cash flow. No loan application today. Augmented for <100 EE/HC) Employer Side Social Security Deferral (preserves cash, no loan application today) NMEDD Loan Guarantee (administered by local NMEDD staff, strong desire to help) Emergency Paid Sick Leave (FFCRA)
  • In need of liquidity and working capital?
    NMEDD Loan Guarantee (administered by local NMEDD staff, strong desire to help) NMSBIC Microloans
  • Looking to cover non-payroll operating expenses?
    EIDL Loan with up to $10,000 grant advance NMEDD Loan Guarantee (administered by local NMEDD staff, strong desire to help) NMSBIC Microloans
  • Looking to retain workforce by offering paid sick leave to employees impacted by COVID-19?
    Emergency Paid Sick Leave (FFCRA)
  • Hunkering down with shuttered operations (yet with strong business fundamentals)?
    Emergency Paid Sick Leave (FFCRA) Expanded Unemployment Benefits NMSBIC Microloans Penalty free retirement account withdrawal
  • Mid-Market New Mexico companies with &gt;40 employees and strong business fundamentals?
    NM Recovery Fund (NM SIC)

Special thanks to the City of Rio Rancho Economic Development Department for pulling together this information. To see the full at-a-glance decision matrix, click here.

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