Black Investment Fund – Black Owned Business Application

Description

One Albuquerque Fund was granted one million dollars ($1,000,000) for Black-Owned businesses and organizations that work within the Black community.

Who may apply:

● For-profit businesses that are located within the City of Albuquerque.

Grant Fund Use:
1. Grants will cover the applicant's need for funding to cover necessary expenses.

o Necessary expenses include but are not limited to items such as rent, mortgage payments, utilities, equipment lease payments, and payroll.

Maximum Grant Amounts:

Sizes of awards will vary. Businesses can be funded up to 50,000. Funds must be used within one year after award. The use of funds will be evaluated during this period.

Application Review & Awards:

One Albuquerque Fund Steering Committee is composed of neutral, qualified individuals selected for their experiences. The Steering Committee will review and score applicant applications and submit recommendations for One Albuquerque Fund Board.

Evaluation Criteria: Due to the anticipated number of submissions and limited funding, applications will be ranked based on predetermined priorities, including the following:

● Impact
o Is the business primarily Black-Owned?
o Does the business provide employment
● Need
o Has the business experienced closure or modified requirements due to COVID-19?
o Does the business have access to other federal, state, and/or local financial assistance?
Viability
Viability is defined as the ability to survive or persist. In a business sense, that ability to survive is ultimately linked to financial performance and position.

o Has the business remained opened, reopened, or does it have a plan to reopen?

If selected:

Selected applicants must be able to provide additional information and documents upon request.

Award Notification

Award letters will be sent via email. For successful applicants, the Letter of Agreement will contain funding restrictions, programmatic and administrative requirements. Reporting documents should include the total budget, along with the amount of grant funding for the program. Submission Guidelines

Applications are due no later than Monday, July 19, 2021, at 5:00 PM MST. All applications will be recorded upon receipt. Applications received after 5:00 PM are disqualified and will not be forwarded to the steering committee for funding considerations. Any additions or deletions to an application, unless requested by the steering committee, will not be accepted after the deadline on July 19, 2021 at 5:00 PM. One Fund Albuquerque Steering Committee is not responsible for unreadable and/or out-of-order submissions.

Incomplete application and/or missing documents will not be considered.

*Attachments Required
The One Albuquerque Fund is a government entity and subject to the New Mexico Inspection of Public Records Act (Sections 14-2-1 et seq., NMSA 1978). Notwithstanding anything contained herein to the contrary, the City or One Albuquerque Fund shall not be responsible to the applicant for any disclosure of confidential information pursuant to the Inspection of Public Records Act or pursuant to the City of Albuquerque's public records act laws, rules, regulations, instructions, or other legal requirement or disclosure made for any other lawful purpose.

Business owners must deposit the grant check in a business checking account. If a sole proprietor, the check must be deposited in an account matching the sole proprietor's name.

Business owners must agree to provide a report about the grant funds' use and results from one year after receipt.

Please include copies of the following documents with your application:
(Businesses who are unable to provide documentation will be required to complete trainings pertinent to the business needs)

◻ Current NM CRS documentation
◻ Current business registration (Bernalillo, Sandoval, and Valencia County)
◻ Employment verification (one of the following) − W-3 Summary
− Payroll Report/Summary
− Q2 Form 941
− 1040 Schedule SE

− 2020 Federal Tax form if you are a sole proprietor

CERTIFICATIONS

I hereby certify and warrant that the business meets all eligibility requirements applicable to the grant. All representations or statements made or furnished by me to the One Albuquerque Fund – Black Investment Fund in connection with this application are true and correct in all material respects and any material misstatements or misrepresentations may be grounds for withdrawing or requiring reimbursement of an award. I understand that it is a criminal violation under New Mexico law to engage in deception and knowingly make, or cause to be made, directly or indirectly, a false statement in writing to procure funds from One Albuquerque Fund, a state agency, or subdivision, or to misuse public funds.

I acknowledge and agree that One Albuquerque Fund has the discretion to award assistance as it sees fit. The aid is subject to the availability of funding. There is no guarantee of help even if applicants meet eligibility requirements. Upon successful completion of the application, the grantees will be scored.