In preparation for the American Rescue Plan administered and funding by the US Federal Government, Native American Tribes throughout the United States are preparing for allocation of funding. The Navajo Nation will be determining allotment of funds for various projects and programs in response to the effects of the COVID-19 Pandemic on the Navajo Nation.
We encourage businesses to resource from other Agencies, which some are available now, such as from the Small Business Administration. The funds designated to the Navajo Nation will take a longer timeframe to designate. The following is a quick overview of available funding resources. Please check back occasionally for updates.
State Small Business Credit Initiative (SSBCI)
Modifications to Paycheck Protection Program (PPP)
- $7.25 billion in Paycheck Protection Program (PPP) funding has been added with less stringent access standards for, among others, nonprofit entities, digital media companies, sole proprietors, independent contractors, and self-employed individuals. Eligible nonprofits now include those employing 500 or fewer per physical location (300 or fewer per physical location for second PPP loans) and meeting other standards.
Targeted EIDL Advance (EIDL)
- $15 billion in Economic Injury Disaster Loan (EIDL) funding has been added, with one third of such amount targeted to businesses that suffered a revenue loss of greater than 50 percent, are located in low income census tract areas, and employ 10 or fewer people.
Support for Restaurants (RRF)
- Establishes a $25 billion Restaurant Revitalization Fund for 2021 to be administered by the Small Business Administration (SBA). $5 billion of this will be allocated to restaurants whose gross receipts in 2019 were less than $500,000, and the first 21 days of the program prioritizes small businesses owned by women, veterans, or socially and economically disadvantaged individuals. Public companies, government-managed businesses, entities, and affiliates that have more than 20 locations, and entities that applied for a shuttered venue operator grant (as discussed below) will not qualify. Grant amounts will not exceed a restaurant’s pandemic-related revenue loss (which is measured by the difference between 2020 and 2019 gross receipts) of up to $10 million (with a limit of $5 million per physical location). Grant amounts may be used to cover payroll costs, mortgage payments, rent, utilities, maintenance expenses, operational expenses, paid sick leave, and supplies. Grant amounts received from the restaurant revitalization fund won’t be treated as taxable income, and expenditures paid with such grant amounts will still be deductible.
Community Navigator Pilot Program (CNS)
- The term “community navigator services” means the outreach, education, and technical assistance provided by community navigators that target eligible businesses to increase awareness of, and participation in, programs of the Small Business Administration. The term “eligible business” means any small business concern, with priority for small business concerns owned and controlled by women, small business concerns owned and controlled by veterans, socially and economically disadvantaged small business concerns. In addition to amounts otherwise available, there is appropriated to the Administrator for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $100,000,000, to remain available until September 30, 2022, for carrying out this subsection.
Shuttered Venue Operators
- Adds $1.5 billion to the $15 billion in shuttered venue operators grants, which are administered by the SBA, and that were funded under the Consolidated Appropriations Act to assist live venue operators or promoters, theatrical producers or live performing arts organization operators, motion picture theater operators, museum operators, and talent representatives that were in operation on Feb. 29, 2020, and that had a 25 percent or greater drop in gross earned revenue during any quarter of 2020 as compared to the same quarter of 2019. The new law removes the requirements under the Consolidated Appropriations Act that prohibited an entity from receiving both a PPP loan after Dec. 27, 2020, and being eligible for a shuttered venue operators grant. The amount of the grant will instead be reduced by the PPP loan amount received after Dec. 27, 2020.
Extension of Employee Retention Credit
- The expanded Employee Retention Credit (ERC) provisions under the Consolidated Appropriations Act, set to expire on July 1, will be made available through Dec. 31, 2021, for eligible employers. In addition, startup businesses established after Feb. 15, 2020, with annual gross receipts of up to $1 million and that otherwise do not meet the ERC eligibility tests, will now be eligible for the ERC. The startup ERC is capped at $50,000 per quarter, per employer, and the credit will be computed under regular ERC rules. The revised ERC rules also include a new provision for “severely financially distressed employers,” which is defined as an employer that experienced a gross receipts reduction of more than 90 percent as compared to the same quarter in 2019. If an employer meets this definition, it may treat all wages paid to employees as qualified wages, regardless of the number of full-time employees.
Farm Loan Assistance for Socially Disadvantaged Farmers & Ranchers
- In addition to amounts otherwise available, there is appropriated to the Secretary of Agriculture for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $1,010,000,000, to remain available until expended, to carry out this section. Adds money to support agriculture, including supply chain monitoring and surveillance, debt relief, grants, training, education, and other forms of assistance aimed at acquiring land.
New Mexico Recovery Fund
The Grant Plant Inc. COVID-19 Emergency Grants
New Mexico Clean & Beautiful Grant
2021, Build to Scale Program
Additional Funding Opportunities (Nationally)
- AC Agribusiness Partners
- Debt Fund
- Equity Fund
- Small Business Guaranteed Loan
- BlueHub Loan Fund
- Small Business Loan
- Small Business Capital Fund
- New Markets Tax Credit Financing
- Kiva Crowdfunded Microloans
- Kiva Crowdfunded Loans
- Lease Hold Improvements/FF&E Loans
- Marker Space Loans
- Commercial Real Estate Loans
- Permanent Working Capital
- Emergency Bridge Loan
- NDC Multicultural Community Impact
- Secured Term Loans
- Secured Revolving Lines of Credit
- Transformation Loan Fund
- New Market Tax Credit
Additional Funding Opportunities (Locally)
- Rural Energy for America Program (REAP) Grant
- Local Economic Development Act (LEDA) Grants
- Essential Services Working Capital Program
- Small Business Recovery Loan Fund
- Smart Money Business Loan Participation Program
- Direct Down Payment Farm Ownership Program
- Direct Emergency
- Direct Farm Ownership
- Direct Farm Ownership Microloan
- Direct Farm Ownership Participation
- Direct Operating
- Direct Operating Microloan
- Rural Energy for America Program (REAP) Grant
- Rural Energy for America Program (REAP) Loan
- Value-Added Producer Grants
- Microloan Program
- Small Business Loan
- Business Industrial Development Fund
Lastly, The Division of Economic Development is recommending proposals and projects to be determined by Navajo Nation Leadership. In preparation, we encourage Navajo Business owners and Artisans to file to be a recognized business on the Navajo Nation. To register click here.
The Division of Economic Development has established a resource team for the American Rescue Plan Act to assist with any technical support:
Daisha Holyan, Eligibility Technician, firstname.lastname@example.org
Steven Nez, Eligibility Technician, email@example.com
Douglas Capitan, Sr. Projects Specialist, firstname.lastname@example.org
Shaunya Manus, Sr. Economic Development Specialist, email@example.com
Coby Tom, Public Information Officer, firstname.lastname@example.org
JT Willie, Division Director, email@example.com
Phone: 928-871-6544 | 928-871-6841 | 928-871-7376