DRC Announces 2022 Tribal Economic Diversity Fund

News from the DRC:

For the past 25 years, the Regional Development Corporation (RDC), a nonprofit economic development organization, has assisted business development in northern New Mexico.

This year is no different with the opening of the Tribal Economic Diversity Fund.

DRC Tribal Economic Diversity Fund price grants of up to $8,000 to businesses owned by a federally recognized Indian tribe or by one or more registered members of a federally recognized Indian tribe for essential technical services and equipment.

The awards are given on a competitive basis and aim to provide services to Tribal Business Entities that diversify income, leverage other investments, create new jobs and/or establish systems that lead to growth.

“The past two years have been extremely difficult for many tribal businesses in northern New Mexico,” said RDC’s executive director. “We know financing can make a big difference, especially if it’s for making purchases needed to stabilize, diversify or grow a business.”

ELIGIBILITY:

  • business enterprise belonging to a federally recognized Indian tribe; or a business owned at least 51% by a registered member) of a federally recognized Indian tribe Pueblos of Cochiti, Jemez, Nambe, Ohkay, Picuris, Pojoaque, San Ildefonso, Santa Clara, Taos or Tesuque;
  • Company headquartered in Los Alamos, Mora, Rio Arriba, San Miguel, Sandoval, Santa Fe, or Taos County;
  • Business-only bank account encouraged;
  • Be in business for at least 6 months before applying;
  • Preference given to first-time applicants and previously unawarded applicants; and
  • Funds will be used to: purchase necessary business equipment, advertising and marketing, consulting services, specialized software.

TERMS:

  • Describe specific purchases that can be made within 6 months of the award date;
  • Submit an application to the Tribal Economic Diversity Fund by August 15; and
  • Unless other arrangements have been made in advance and approved, pay for financed purchases and submit paid invoices for reimbursement.

IMPORTANT APPOINTMENTS:

  • Opening of the application process: July 15; and
  • Applications due: August 15.

Application assistance available: [email protected]

For more information: https://www.rdcnm.org/tribal-grant