ALBUQUERQUE, N.M. (KRQE) – Help is on the way for small businesses impacted by the Albuquerque Rapid Transit construction project.
Friday, the Central Loan Fund was launched. Right now, the loan fund has $700,000 in it donated by the McCune Foundation and other private contributors.
The money offers low-interest loans of up to $15,000 for businesses to offset losses they’ve suffered because of the construction.
“We know where the impacts are financially, not for everyone but for the few that we do know, we recognize the safety net opportunity is really going to help them. Some of them are going to look at using it to pay for payroll, rent, some folks just need help with insurance,” said Vanessa Roanhorse, Small Business Resource Collaborative.
Business owners who qualify can start applying for the loan now.