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Resource Roundup – 8 Reopening Strategies for Businesses

Businesses reopening amidst uncertainty regarding regulations and safety are facing some challenging operating decisions. The U.S. Chamber of Commerce shares these eight strategies to reopen safely. Beefing up delivery, takeout and curbside Restaurants and retail stores have been hit hard by COVID-19, so those operations are making big changes to try to survive this challenging […]

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Opportunity: Own Sign of the Pampered Maiden

Sign of the Pampered Maiden is an iconic, enduring brand and luxury fashion destination in the heart of downtown Santa Fe, and it could be yours. A dramatically reduced price and supportive SBA programs make this a perfect opportunity to become part of the Santa Fe retail and fashion identity. Now listed at only $180,000, […]

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Resource Roundup – Reopen Checklist for Businesses

Gov. Michelle Lujan Grisham announced last week that some businesses can begin to reopen (in modified form) and that others might be able to on May 15. To help businesses prepare, the Santa Fe Chamber of Commerce shared this useful checklist: Determine the square footage of your business and know how many customers can be […]

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Resource Roundup – NM Lenders Available for SBA Loan Applications

Lenders in New Mexico are still able to help businesses with loan applications for the U.S. Small Business Administration’s Paycheck Protection Program (PPP), Economic Development Department Cabinet Secretary Alicia J. Keyes said in a recent virtual roundtable discussion. As reported, Congress appropriated another $310 billion for crisis relief funding last week. As part of that […]

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Resource Roundup – PPP and Business Support 2.0

President Trump signed the legislation today to replenish business relief programs and support hospitals and COVID-19 testing. The package totals $484 billion and includes: An additional $310 billion in funding for the Paycheck Protection Program (PPP), with $60 billion reserved for small banks and lending institutions $75 billion for hospitals $25 billion to support testing […]

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Resource Roundup – Independent Contractors and PPP

The Paycheck Protection Program is now open to 1099 workers and independent contractors, of whom there are over 23 million in the U.S.. There has been a lot of confusion around how independent contractors interact with this program, and not a lot of guidance from the SBA or Treasury. In a virtual town hall hosted […]

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Resource Roundup – FinTech Joins PPP

It’s fair to say that the Paycheck Protection Program’s launch hasn’t been perfectly smooth. The adjustment period as lenders familiarize themselves with unprecedented terms and the enormous volume of demand created a significant bottleneck. As some experts have warned, banks are prioritizing applicants with whom they have existing relationships. The systems to process all of […]

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Resource Roundup – Independent Contractors and Payroll Calculations

There has been a lot of confusion around how independent contractors engage with the Paycheck Protection Program.  See, for example, this letter to Treasury Secretary Mnuchin y Forbes Senior Contributor Tony Nitti delineating some vexing points. To clarify, independent  contractors are not included in an employer’s PPP loan amount. “As an employer and borrower, what […]

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Resource Roundup – Avoid Scams and Fraud Schemes

Be careful to avoid fraud schemes, cautions New Mexico Small Business Development Center Executive Director Russel Wyrick. Information about around relief programs for small businesses is changing at a dizzying rate right now. Unfortunately, some scams are already attempting to capitalize on the confusion. In a webinar hosted today by the New Mexico Economic Development […]

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Resource Roundup – Paycheck Protection Program or Economic Injury Disaster Loans?

What are the relative merits of the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) options? This question comes up a lot lately amidst the whirlwind of new information about business relief programs.  The infographic below, by Live Oak Bank, provides a helpful and concise comparison. Steve Mariani, President and Founder of […]

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