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Program Overview

The Black Chamber of Commerce of New Mexico is offering grants up to $15,000 to support businesses that are at least 51% Black-owned and are registered and operating within the Albuquerque city limits. These grants aim to provide financial assistance to businesses meeting certain criteria, promoting economic empowerment and growth within the community.

General Applicant Eligibility

1. The business must be registered and operating within the City of Albuquerque.
2. The business must be at least 51% Black-owned.
3. For-profit organizations.
   Tax-exempt organizations will be eligible to apply in 2025.

Grant Application Processing Time

• Online Applications Accepted: January, April, July, October
• Online Applications Reviewed: February, May, August, November
• Online Application Decisions (award or rejection letter): March, June, September, December

Additional Considerations

• Priority will be given to businesses that have not previously received a grant from the One Albuquerque Fund or the Chamber through this program.

Use of Funds

Applicants must specify how the funds will be utilized to benefit and grow their business. Examples include but are not limited to:

• Purchasing equipment or supplies
• Hiring additional staff
• Marketing and promotional activities
• Rent or lease payments for business premises
• Other strategic investments to enhance business operations
• Training/continuing education
• Community-based programs

Application Process

1. Complete the grant application form, providing all required information and supporting documentation.
2. Clearly outline how the grant funds will be used and how they align with the business’s growth objectives.
3. Provide a budget that supports the amount requested, along with documentation.
4. Submit the application by the specified deadline.
5. Applications will be reviewed and evaluated based on eligibility criteria and alignment with grant objectives.
6. Successful applicants will be notified and required to fulfill reporting obligations as outlined in the grant terms.

Reporting Requirements

Grant recipients must submit a report within one year of receiving the grant, detailing how the funds were spent and the impact on their business. This report should include proof of expenditures as agreed upon in the grant application.

Conclusion

The Black Chamber of Commerce of New Mexico is committed to supporting the success and sustainability of Black-owned businesses through these grants. By investing in local entrepreneurship, we aim to foster economic development and create lasting benefits for our community.

We encourage organizations who do not meet all the qualifications to join the Black Chamber of Commerce to receive free technical assistance. Small business membership is based on the number of employees, for example, if you have five or fewer employees, your annual membership is $100.
Membership Options (bccofnm.org)

All questions must be submitted in writing to: info@aagacc.org

Grant Tiers & Eligibility

Tier One (up to $5,000)

• At least 51% Black-owned
• Business is located in Albuquerque
• Been in business for a minimum of six months
• Business bank account established
• Clearly define how the grant funds will be used and how they align with the business’s growth objectives
• Provide a budget that supports the amount requested
• Must provide the following documents:
  • Articles of incorporation
  • Business operating agreement
  • Current business registration
  • Secretary of State Good Standing Certificate
  • A well-defined business plan

Tier Two (up to $10,000)

• All requirements of Tier One
• Been in business for a minimum of two years
• Current with tax filings
• Must submit the following documents:
  • Current tax return
  • Current financial statements (Balance Sheet/Profit and Loss)

Tier Three (up to $15,000)

• All requirements of Tiers One and Two
• Been in business for a minimum of three years
• Filed business taxes for a minimum of three years
• Submit a leadership and financial management skills narrative

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