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House sends business relief bill to governor
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A bill extending financial relief opportunities to those hit hardest by the COVID-19 pandemic is on its way to the governor’s desk for a signature. The House of Representatives on Thursday voted 51-17 to approve Senate Bill 3, which offers long-term, low-interest loans up to $150,000 to eligible New Mexico businesses and nonprofits. The loans can be used for capital expenses, including making alterations to property to adapt to the challenges of the pandemic, such as building an outdoor dining area at a restaurant. The money will go to businesses whose net revenue was $5 million a year or less based on 2019 figures. The first year of the loan is interest free.