SANTA FE, N.M. (KRQE) – The Economic Development Department reports Thursday, July 30, that New Mexico has approved another round of no-interest loans from its LEDA fund to four Albuquerque companies that will use the funds to maintain manufacturing operations through the COVID-19 pandemic. The loan program was approved by Gov. Michelle Lujan Grisham at the beginning of March before the federal CARES Act was passed.
The program is one of several that the state has put in place in order to help businesses that were impacted by the health crisis. The program has assisted nine major companies in the state with loans that total $2.2 million and has allowed businesses to save 162 jobs and maintain production.
“I will continue to do everything I can to sustain jobs and our economy throughout this public health and economic crisis,” said Gov. Lujan Grisham in a press release. “It’s essential that we support workers and New Mexican families all across our state as this pandemic ravages businesses and our local economies.”
“These companies worked hard to attract and train workers,” said Cabinet Secretary Alicia Keyes said in a press release. “The LEDA loan program has been a success, helping to retrain a skilled workforce, which will lead to a stronger economic recovery.”
The newest no-interest LEDA loans were approved for the following businesses:
- 3D Glass Solutions
- BayoTech Inc.
- Southwest Pattern Works
- Advanced Optical Technologies
Additional information on all of the financial assistance programs can visit the Economic Development website.
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