Updated: April 04, 2020 07:09 PM
Created: April 04, 2020 06:54 PM
ALBUQUERQUE, N.M.—The first wave of grants funded by the $2.2 trillion stimulus package arrived in New Mexico this week. The state is supposed to eventually receive more than a billion dollars to help people and businesses affected by coronavirus.
The $17 million received this week will be used to pay for things related to housing such as resources for the homeless and to eviction prevention.
Sen. Tom Udall said the money will help prevent the spread of COVID-19.
"But simply these dollars will keep people in homes at a time of great economic uncertainty. We know the best way to prevent the spread of COVID-19 is to ask people to stay home, but people can only stay home if they have a safe and affordable housing,” Sen. Udall said.
The federal stimulus package also set aside $350 billion to help small businesses by giving them loans. Some of those loans can be forgiven or converted into grants if employers don’t let go of their employees.
Rep. Xochitl Torres Small said she’s been trying to make the loan application easy for businesses.
"So the applications have been dramatically reduced in size. How long it takes to fill out those applications—which should be about 15 minutes, but there is still a challenge getting all the information you need so if you are having trouble or waiting on hold to get answers please feel free to call our office and we can get you as much information as we can,” Rep. Torres Small said.
President Trump announced Saturday that he would ask Congress for more money if the $350 billion for small businesses runs out.
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