Rural Business Development Grants in New Mexico

The purpose of the program is to promote economic development and job creation projects through the awarding of grant funds to eligible entities. Applications will compete in two separate categories, business opportunity grants, and business enterprise grants, for use in funding various business and community projects that serve rural areas. There is no maximum grant amount; however, smaller requests are given higher priority. There is no cost-sharing requirement. There are two types of RBDG projects, Opportunity grants and Enterprise grants. Opportunity-type grants are limited to up to 10 percent of the total Rural Business Development Grant annual funding. Enterprise-type grants must be used on projects to benefit small and emerging businesses in rural areas as specified in the grant application.