Working Now Revolving Loan Fund

Click each portion of the flow chart for more information


The Working Now Loan Program was developed in response to the COVID-19 Pandemic through funding from the US Economic Development Administration (EDA).  These loans are available to small businesses in the NCNMEDD region for relief from the impacts of COVID-19. 


Potential Uses

Working Now funds can be used for to help businesses affected by the pandemic. Uses may include but are not limited to payroll, rent, inventory, marketing, ecommerce development, personal protective equipment, other equipment and small capital improvements.


Loan Terms & Structure


Loan Amount - Up to $10,000

Loan Term - Up to 42 months, 36-month amortization, 6-month deferment

Application Fee - $300 (Deducted from Loan Proceeds)

Interest Rate - 4 percent

Collateral - None


How to Apply

Visit, download and complete the application form. The application requires:

  1. Description of the following:

  • The business—location, tenure of operations, good or services sold

  • Viability of the business prior to the COVID-19 pandemic

  • How COVID-19 affected the business

  • Recovery plan for the business

  1. Financial Statement

  2. 2019 tax returns

  3. Current business license

  4. Valid Drivers License or Passport

Applications may be emailed to Keith Flynn, Loan Officer at



  1. Small businesses located in Santa Fe, Rio Arriba, Los Alamos, Taos, San Miguel, Mora or Colfax counties are eligible. Businesses in Sandoval County should consult with NCNMEDD before submitting an application.

  2. For-profit and non-profit businesses are eligible.

  3. Ineligible uses of loan proceeds include financing non-business endeavors, passive real estate, and repayment of delinquent taxes or taxes held in trust or escrow.

  4. Ineligible businesses include bars, pyramid schemes, gambling, lobbying, financial businesses primarily engaged in the business of lending, life insurance companies, businesses engaged in illegal activity, private clubs which limit the number of memberships for reasons other than capacity, government owned entities, businesses principally engaged in teaching, instructing, counseling or indoctrinating religion or religious beliefs, whether in a religious or secular setting, consumer and marketing cooperatives (producer cooperatives are eligible) and speculative businesses.

  5. Businesses must be current with all state and federal government debt obligations, taxes, and all other NCNMEDD loans to be eligible.

Personal Financial Statement Requirements

2019 Tax Returns or Internally Prepared Financial Requirement

Business Licence Requirement 



For more information about the Working Now Program or for other questions about the program or application process, please contact:


Keith Flynn, Loan Officer

North Central New Mexico Economic Development District

3900 Paseo del Sol

Santa Fe, NM  87507


© North Central New Mexico Economic Development District

3900 Paseo del Sol, Santa Fe, NM 87507