As many of the COVID resources expire, NMRA will continue to monitor what relief programs are available and post them here for our members to access. If you know of any additional funding resource for restaurants that is not on this list please send the information to : dining@nmrestaurants.org
EIDL Payments Are Due Soon!
The deferment period on the COVID Economic Injury Disaster Loans (EIDL) is ending and payments will be due soon. Need assistance or have questions? Contact Shelley.Brown@SBA.gov or Sara.Branch@SBA.gov
Maximizing the Employee Retention Credit (ERC)
The ERC is a federal initiative to support efforts to keep employees on the payroll during the pandemic. Many small businesses—such as your restaurant—qualify for up to $26,000 per W-2 employee in ERC funds. But less than 25 percent of eligible businesses have filed for ERC assistance.
There are several reasons:
- The ERC filing process is complex and time-consuming
- ERC eligibility requirements have changed a number of times, resulting in confusion
- Many CPAs and payroll firms are unaware of the ERC or its eligibility requirements
We want you to receive all the federal COVID relief to which you’re entitled.
Get your ERC refund through our member partner Adesso here.
Hospitality Training Reimbursement Program
The New Mexico Departments of Workforce Solutions and Tourism have created a reimbursement program for training assistance to support businesses in the hospitality industry. Funding is available to assist eligible businesses with their qualified new hires or promotions of staff that need training to be successful in their career path. Requirements and details on qualifying positions are listed below. This program will cover 16 weeks of training with a range of reimbursement from $816-$4,480. Please note funding is limited. Interested tourism-related employers are encouraged to apply as soon as possible. Learn More Here
DoorDash Restaurant Disaster Relief Fund
DoorDash, in partnership with Hello Alice, will provide $10K relief grants to eligible local restaurants affected by state- or federally-declared natural disasters through the $1M Restaurant Disaster Relief Fund. If your restaurant is experiencing hardship due to natural disaster, has 3 stores or less, employs fewer than 50 employees per location, and has revenues of $3M or less per location in the last 12 months apply NOW! Click here to apply!
Restaurant GRT Deduction
Did you know that the GRT Restaurant deduction is still available for restaurants that have not applied? The New Mexico Economic Development Department hosted the New Mexico Taxation and Revenue for a webinar to explain how to get this deduction and how to apply for a refund if the original deduction was not claimed. Watch the following video to learn more about how to take advantage of this resource.
