Governor urges New Mexico small businesses to apply for disaster loans

7/5/2011

New Mexico Governor Susana Martinez recently issued a message to small business owners affected by the state's recent wildfires in which she instructed entreprenuers to fill out a form to receive economic assistance, New Mexico Business Weekly reports.

The low-interest small business loans from the U.S. Small Business Administration are only available for companies that suffered non-structural damages.

"I am committed to helping small businesses that were forced to close or experienced significant economic impact as a result of the fires obtain help from the Small Business Administration," Martinez said in a statement, quoted by the news source. "These low-interest loans can help our communities recover more quickly."

In order to receive the loans, Martinez must certify that a minimum of five eligible businesses suffered substantial economic injury. Completing the worksheet does not necessarily guarantee an SBA loan, however, and businesses must fill out the form within 120 days of the occurrence.

In June, U.S. Senator Jeff Bingaman issued low-interest loans to New Mexico small businesses in counties that were affected by February's freezing temperatures and nature gas shortage.