ALBUQUERQUE, N.M. (KRQE) – PNM has announced that it is helping small businesses in New Mexico by providing tools to help them navigate COVID-19 federal financial help.
Small businesses with up to 500 employees can receive financial help if they’re unable to make utility payments under the federal Coronavirus Aid, Relief, and Economic Security Action Act. However, businesses are worried they will not be able to pay for it later on.
This federal stimulus allows small businesses to pay employee salaries, paid sick, and medical leave, insurance premiums and utilities in addition to residential relief with mortgage interest, utility, and rent payments. Businesses experiencing a temporary loss of revenue would receive up to $10,000 to be used as economic relief.
The federal relief is available on a first-come-first-serve basis. Federal funds would be made available within three days of a successful application and would not have to be repaid.
PNM is urging New Mexico small businesses to apply for this federal relief and stimulus package as soon as possible. To apply, small businesses would need to provide proof of various things such as a copy of their most recent PNM bill.
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