Category: State Incentives, Grants & Loans
AGENCY: Loan Fund
DESCRIPTION: NMCDLF’s mission is to provide loans and assistance to improve the economic and social conditions of New Mexicans. NMCDLF programs are designed to alleviate the high poverty rate in the state and to assist New Mexicans in becoming economically self-sufficient. The organization is a 501(c)(3) non-profit with bilingual loan officers.
• Non-profit organizations involved in affordable housing, daycare, health care, cultural organizations, cooperatives, youth organizations are eligible.
• Eligible small businesses include start-ups and expansions, entrepreneurs and family-owned businesses.
• Loan terms: Loan amounts based on need, average $5,000 to $100,000;
• Collateral required; and
• Competitive interest rates.
• Funding sources include investments, grants, program fees and interest, and contributions.
• Business and advertising assistance is available for:
• Financial management and bookkeeping;
• Marketing and promotion;
• Board development;
• Strategic planning; and
• Legal and tax referrals.
• Documentation of credit history.
• Sustainable enterprise.
• Meets “social benefit” criteria.
• For more information, visit the website at www.nmcdlf.org or call (505) 243-3196.