Las Cruces Mayor Ken Miyagishima is asking and encouraging local banks, credit unions, and Community Development Financial institutions (CDFI) in our community to consider opening appropriate lines of credit to local restaurants that are participating in the City’s COVID-relief meal voucher program.
The Mayor believes small lines of credit would help restaurants that have been struggling during the COVID-19 pandemic. The meal voucher program, which has been established by the City of Las Cruces during the pandemic, enables nonprofit agencies to provide eligible residents with vouchers that can be used to pay for the cost of a meal. The meals are especially needed for residents who have been negatively impacted by the shutdown of businesses during the pandemic.
At a Las Cruces City Council meeting earlier in January, the Mayor said some restaurants have been hesitant to participate in the meal voucher program because reimbursement takes approximately 10 days after the vouchers were used by residents to purchase meals. The Mayor said it would be helpful if banks would work with restaurants who are accepting the meal vouchers to establish lines of credit.
If a restaurant would like to be considered for the food voucher program they can call Families and Youth Inc., at 575/522-4004, or the City's Community Development Department, at 575/528-3043, to be put on a list to be notified when the next Request For Proposal is issued. Also, if a member of the public would like a food voucher, they are available through Families and Youth Inc.
Local banks, credit unions, and CDFIs interested in helping local restaurants establish lines of credit, contact the City’s Business Concierge, Donald Bustos at firstname.lastname@example.org or 575/541-2191.