Tuesday, September 20, 2022

Bingo! New Mexico Business Owners Have Access to $25 Million in SBA Loans

The nonprofit, state-launched New Mexico Small Business Investment Corp. has a new RBC Impact Fund that will target small businesses with annual revenue up to $7.5 million and less than 500 employees. The loans would be in amounts from $150,000 to $5 million.

For small business New Mexico business owners, another $25 million in Small Business Administration loans is now available to New Mexico small businesses unable to secure traditional bank loans.

The NMSBIC funding is available to any SBA loan lender in New Mexico, but the funding primarily will go to DreamSpring, Lendistr and Capital Impact Partners, which are all Community Development Financial Institution lenders that focus on lending to underserved markets.

Learn more on how New Mexico small businesses can tap into $25 million in SBA loans

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