ALBUQUERQUE, NM (AP) – Greater than 6,500 New Mexico companies and nonprofits will obtain as much as $ 50,000 below a state program created to assist companies deal with the financial penalties of the pandemic.
That is about half of the businesses that utilized, the Albuquerque Journal reported.
“The quantity (of functions) that we could not fund was very tough for us,” stated Marquita Russel, government director of the New Mexico Finance Authority, the state company that administered this system.
In one other growth, the state reported 1,252 further recognized COVID-19 instances and 32 further deaths on Saturday, elevating the state’s totals because the pandemic started to 145,379 instances and a couple of,534 deaths.
The state applied this system to assist companies as half of a bigger $ 320 million coronavirus aid package deal authorised by New Mexico lawmakers. This system makes use of $ 100 million in federal coronavirus aid funds allotted to the state. About $ 40 million of that sum was allotted to companies positioned exterior of the 4 largest cities within the state.
Russel stated that whereas his company anticipated to obtain roughly 10,000 functions, it acquired greater than 14,000.
In whole, 6,530 functions had been funded.