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Posted on: November 24, 2021

USDA Rural Business Development Grant Enterprise Opportunity For Small and Emerging Businesses

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Press Release

400 Camino de la Placita, Taos, NM  87571

Contact:
Lynda D. Perry, Assistant Town Manager/Grants & Revenue Development Director
lperry@taosgov.com575.737.2632


For Immediate Release: 

 

USDA Rural Business Development Grant (RBDG) Enterprise Opportunity

For Small and Emerging Businesses

 

The Town of Taos would like to invite small and emerging businesses within Town limits the opportunity to collaborate on an USDA Rural Business Development Grant.

 

What is a “Small and Emerging Business?”  For the purposes of this grant, a “small and emerging business” is a private business which will employ less than 50 or fewer new employees and has less than $1 million in gross revenue.  

 

What does this program do?  RDBG is a competitive grant designed to support targeted technical assistance, training, and other activities such as construction, renovation of buildings, purchase of equipment, access streets and roads, parking areas, utilities, etc.

 

How much funding is available?  Generally, grants range from $10,000 up to $500,000.

 

How are applications evaluated?  All applications are evaluated based on evidence of showing job creation to occur with local businesses, percent of nonfederal funding committed to the project, economic need in the area to be served, consistency with local economic development priorities, and experience of the grantee with similar projects.

 

What information will be needed?  To be considered by USDA, three years of financial statements and the applicant’s tangible net worth must be positive to be eligible.  Tax returns are not financial statements.  If the applicant is less than 3 years old, at a minimum, information should include all balance sheets, income statements and cash flow statements.

 

The Town of Taos will be hosting a public hearing on Monday, December 13th as an opportunity for interested businesses to discuss their business and needs.   Council will make the selection on Tuesday, December 14th at the regular council meeting.  Please contact Lynda Perry to be put on the public hearing agenda.


 





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