$100M approved for coronavirus Business Recovery Fund in New Mexico

Coronavirus New Mexico

NEW MEXICO (KRQE) – The state is providing millions in funding for businesses.

In a unanimous vote on Tuesday, the state’s investment council approved a $100 million coronavirus Business Recovery Fund to help medium-sized companies meet payroll obligations and avoid layoffs during the coronavirus pandemic.

Emergency loans can also be offered to employers headquartered outside the state. The funding comes from the state’s severance tax permanent fund.

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