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Albuquerque Black Business Fund

Albuquerque Black Business Fund

Black Chamber of Commerce of New Mexico
LOCATION & INDUSTRIES
AMOUNT

Up to $5,000

OWNERSHIP REQUIREMENTS
DEADLINE

Rolling

ABOUT THE GRANT

The Albuquerque Black Business Fund provides Albuquerque-based for-profit and nonprofit businesses with grants of up to $5,000 to support economic empowerment and growth in the local business community. Administered by the Black Chamber of Commerce of New Mexico, the program is structured into three tiers based on business maturity, with award amounts scaling upward as documented business tenure and financial reporting increase. Tier One awards up to $2,000 to businesses in operation for at least six months. Tier Two awards up to $3,500 to businesses in operation for at least two years, with current tax filings required. Tier Three awards up to $5,000 to businesses in operation for at least three years, with three years of tax filings and current financial statements required.

To qualify at any tier, applicants must be registered and operating within the Albuquerque city limits, have a primary business location in Albuquerque (P.O. Boxes are not permitted), be in good standing with the New Mexico Secretary of State, and be a current member of the Black Chamber of Commerce of New Mexico (small businesses with 1 to 5 employees can join the Chamber for an annual fee of $100). Both for-profit and nonprofit/tax-exempt organizations are eligible. For-profit applicants must specify how grant funds will benefit and grow their business, while nonprofits must specify how funds will be used for programs that serve the community. Example uses include equipment or supplies, hiring additional staff, marketing and promotional activities, rent or lease payments for business premises, training or continuing education, community-based programs, and other strategic investments to enhance operations.

Applications are accepted on a quarterly cycle, and previous grant recipients are not eligible to receive additional grants under this program. Award amounts are subject to change based on fund balance, and all grant recipients must submit a report within one year detailing how the funds were spent and their impact on the business or organization, including proof of expenditure.

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NOTES

We haven't added commentary on this grant yet. In the meantime, the fundor's website (linkeded above) is the best source for application details and eligibility specifics.

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