Udall Joins New Mexico Economic Development Department for Roundtable Discussion on Small Business Assistance

Press Release

Today, U.S. Senator Tom Udall (D-N.M.) joined New Mexico Cabinet Secretary Alicia J. Keyes of the Economic Development Department for a webinar for New Mexico small businesses. During the webinar, Udall outlined the federal small business assistance from the recently-passed $2 trillion emergency coronavirus response package and his efforts to secure future assistance for New Mexico small businesses in Congress.

"I'd like to extend my thoughts and prayers to everyone impacted by this virus," Udall began. "It's hit hard. My focus in the Senate has been on New Mexico workers, small businesses, vulnerable populations, and making sure our healthcare system and frontline healthcare workers have the resources they need to do their jobs and stay safe themselves.

"I'm here to talk about what we've done in Congress so far to help -- and the work ahead," Udall continued. "The CARES Act is a $2 trillion relief package -- the largest ever passed by Congress. I worked hard to make sure this was a bill that put our state, workers, and small businesses first. It's not the end of our work, but it's a good start.

"The entire New Mexico Congressional delegation has been asking [the Treasury Department] how many New Mexico loans have been disbursed, their geographic distribution, and whether businesses owned by underserved communities have had equal access," Udall said.

"Long story short: this bill has a lot of good resources for small businesses. But the administration needs to do better getting these resources out the door -- and I'm pushing hard on that," Udall continued. "Getting over $2 trillion dollars out the door and into the field will be a first. But New Mexico communities and communities across the nation need the relief now. Not weeks from now.

"Small businesses are a top priority. We want to see $250 billion dollars for them -- including $125 billion channeled through community-based lenders that serve women-, minority- and veteran-owned small businesses; farmers; and small businesses and nonprofits across the country.

"Working together, I believe we will get through this crisis, and come out stronger on the other end," Udall concluded.

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