Incentives Directory
AGENCY: Department of Health and Human Services, Administration for Children and Families, Administration for Native Americans (ANA)
DESCRIPTION: Provides financial assistance through grants or contracts to further the three goals of the ANA: governance, economic development and social development.
ELIGIBLE USES:
• Technical assistance and...
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DESCRIPTION: The Advanced Energy Tax Credit provides a 6% credit against gross receipts tax, compensating tax, withholding tax, personal income tax or corporate income tax liability for the generation of electricity.
ELIGIBILITY: A taxpayer that holds an interest in a qualified electric generating facility...
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AGENCY: Federal Home Loan Bank (FHLBank) via Dallas
DESCRIPTION: This program finances home-ownership for families with incomes at or below 80% of the median income for an area. Also provides financing for rental housing in which 20% of the units must be affordable and...
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AGENCY: Federal Aviation Administration
DESCRIPTION: The Airport Improvement Program (AIP) provides grants to public agencies and, in some cases, to private owners and entities, for the planning and development of public-use airports that are included in the National Plan of Integrated Airport Systems (NPIAS)...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: The Angel Investment Tax Credit provides a 25% credit on the qualifying investment in a high-technology or manufacturing business. The maximum investment for which a credit will be allowed for a business is $100,000. The maximum credit will...
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AGENCY: Bureau of Indian Affairs (BIA), Division of Financial Assistance
DESCRIPTION: Guaranteed loans that are made by private lenders to eligible applicants for up to 90% of the unpaid principal and interest due.
ELIGIBLE USES:
• Funds may be used to finance Indian-owned commercial,...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: The Biodiesel Blending Facility Tax Credit provides a credit equal to 30% of the cost
of purchasing and installing biodiesel blending equipment.
ELIGIBILITY: A taxpayer who is a rack operator as defined in the Special Fuels Supplier Tax...
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AGENCY: Economic Development Administration (EDA)
DESCRIPTION: This program is also known as the Long-Term Economic Deterioration/Revolving Loan Fund. Grants are provided to economic development intermediaries and non-profit organizations which establish revolving loan funds (RLF) for business expansion opportunities.
ELIGIBLE USES: Awards may be used...
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AGENCY: Economic Development Administration (EDA)
DESCRIPTION: The EDA assists communities with funding the construction of public works and local facilities that contribute to private sector job creation and retention to alleviate unemployment and underemployment. Preference is given to rural communities. EDA funding decisions are...
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AGENCY: Commission on Energy Efficiency and Load Management Programs
DESCRIPTION: This Act encourages utility investment in energy efficiency and load management programs by allowing public utilities recovery of reasonable and prudently incurred expenses for such programs in an expedited manner.
STRUCTURE:
• Before the...
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DESCRIPTION: An ESOP is classified as an employee benefit plan that can be used for corporate debt financing.
ELIGIBLE USE:
• ESOPs are empowered to fulfill many different financing roles for a business:
• Buy out shareholders;
• Finance capital expansion;
• Refinance existing...
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AGENCY: Construction Programs Bureau, New Mexico Environment Department
DESCRIPTION: The Bureau has money to lend as part of its mission to protect human health and the environment via its administration of drinking water and wastewater projects.
ELIGIBILITY: Eligible public entities include municipalities, counties, special...
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DESCRIPTION: Leasing is an alternative to purchasing general equipment, furniture, medical equipment, office machines, typewriters and computers.
ELIGIBLE USE:
• Leasing provides the following benefits:
• A tax advantage through accelerated depreciation;
• Frees up cash for other uses;
• Allows lines of credit to...
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AGENCY: Federal Agricultural Mortgage Corporation (Farmer Mac)
DESCRIPTION:
• Farmer Mac is America’s secondary market for first mortgage agricultural real estate loans.
• Farmer Mac was created by Congress to improve the availability of long-term credit at stable interest rates to America's farmers, ranchers...
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AGENCY: Federal Home Loan Bank
DESCRIPTION: The EDPPLUS Small Business Grant Program is designed to promote and enhance small business development; to foster business relationships between member institutions, small businesses, and small business development organizations; to create and retain jobs; and to assist member...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: An eligible film production company may apply for, and the Taxation and Revenue Department may allow, a tax credit of 25%. New changes will become effective July 1, 2011.
ELIGIBILITY:
• Expenses including the direct production expenditures made...
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AGENCY: First Nations Financial Project (FNFP), Oweesta Program
DESCRIPTION: As part of an ongoing effort to stimulate small businesses, home ownership and economic development in Native Communities, OWEESTA provides the training and technical assistance needed to get Native Community Development Financial Institution (NCDFI) up...
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AGENCY: Flywheel Ventures
DESCRIPTION: Flywheel Ventures is a seed and early-stage venture capital firm focused on information technology and physical sciences ventures in the Southwest/Rockies region. The firm matches talented entrepreneurs with market opportunities where Flywheel’s capital, entrepreneurial experience and industry relationships help accelerate...
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AGENCY: U.S. Department of Agriculture (USDA) Farm Services Agency (FSA)
DESCRIPTION: The FSA guarantees loans made by agricultural lenders for family farmers and ranchers for farm ownership, improvements and operating purposes. The FSA describes a family farm as one which a family can operate...
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AGENCY: Farm Services Agency (FSA)
DESCRIPTION: The Limited Resource Farm Loan Program provides direct loans to low-income farmers and ranchers to buy improve or enlarge family farms.
ELIGIBLE USE:
• Loan funds may be used to buy land, build or improve existing structures and...
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AGENCY: Government National Mortgage Association (Ginnie Mae or GNMA)
DESCRIPTION: Ginnie Mae makes affordable housing a reality for millions of low- and moderate- income households across America by channeling capital into the nation's housing markets.
ELIGIBLE USES:
• The Ginnie Mae guaranty allows mortgage...
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An Ordinance creating a Gross Receipts Investment Policy (GRIP) passed, adopted and approved by the City of Gallup in June 2017. View the FAQs here.
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AGENCY: Taxation and Revenue Department
DESCRIPTION:
• Property interests of a lessee in project property held under a lease from a county or municipality under authority of an Industrial Revenue Bond (IRB), Pollution Control Revenue Bond Act, or the Statewide Economic Development Finance Act...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: The High-Wage Jobs Tax Credit provides a refundable tax credit to businesses for each high-wage job created.
ELIGIBLE USES:
• The credit is equal to 10% of the salary and benefits of each qualifying economic-based job, up to...
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AGENCY: U.S. Department of the Interior, National Park Service
DESCRIPTION: Tax incentives are available where historic structures are certified as having received rehabilitation to preserve and enhance their historic character.
ELIGIBLE USES:
A certified historic structure listed in the National Register of Historic Places or...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: To finance Medicaid and indigent healthcare recipients, the governing body of any
county may enact an ordinance imposing an excise tax of 1/16% for each purpose.
ELIGIBILITY: Any county is eligible to pass the 1/16% increase to fund...
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AGENCY: Department of Housing and Urban Development (HUD)
DESCRIPTION: The CDBG program is a flexible program that provides communities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: The objective of the HOME Program is to expand the supply of decent and affordable housing for low- and very low-income residents. HOME is authorized under Title II of the Cranston- Gonzalez National Affordable Housing Act, as amended...
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AGENCY: Department of Housing and Urban Development (HUD) and local Public Housing Authorities
DESCRIPTION: Family Self-Sufficiency is a HUD program that encourages communities to develop local strategies to help voucher families obtain employment that will lead to economic independence and self-sufficiency.
ELIGIBILITY: Families that...
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AGENCY: Department of Housing and Urban Development (HUD)
DESCRIPTION: Housing choice vouchers allow very low-income families to choose and lease or purchase safe, decent, and affordable privately-owned rental housing. The various types of vouchers include Conversion Vouchers, Family Unification Vouchers, Homeownership Vouchers, Project Based...
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PROGRAM: Indian Intergovernmental Tax Credit
AGENCY: Taxation and Revenue Department
DESCRIPTION: A company engaged in growing, processing or manufacturing may receive a tax credit from taxes imposed by an Indian nation, Tribe or Pueblo located wholly or partly in New Mexico.
PROGRAM/LOAN STRUCTURE:
Maximum...
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AGENCY: New Mexico incorporated municipalities and counties
DESCRIPTION: Pursuant to the Industrial Revenue Bond Act, New Mexico municipalities and counties are authorized to issue IRBs to stimulate the expansion and relocation of commercial and industrial projects in the state.
ELIGIBLE USE:
• IRB financing for...
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AGENCY: Economic Development Department (EDD), International Trade Division
DESCRIPTION: The International Trade Division offers export assistance, consultations on business practices, and a wealth of knowledge in doing business internationally. Additionally, they have trade networks throughout the globe available to assist you in a variety...
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AGENCY: International Trade Administration (Federal)
DESCRIPTION: Under a cooperative agreement between the district office of the International Trade Administration and the Trade Division of the New Mexico Economic Development Department (EDD), exporters and importers may receive timely assistance with most routine trade issues, as...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: It is the purpose of the Investment Credit Act [Chapter 7, Article 9A NMSA 1978] to provide a favorable tax climate for manufacturing businesses and to promote increased employment in New Mexico. The Investment Credit Act was introduced...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: To encourage travel by turboprop or jet-type powered airlines, the 2006 Legislature has allowed for a deduction for fuel to power those types of airplanes. ELIGIBILITY: Any supplier of fuel prepared and sold for use in turboprop and...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: The Job Mentorship Tax Credit encourages New Mexico businesses to hire youth
participating in career preparation education programs.
ELIGIBILITY: A company that files a corporate income tax return.
STRUCTURE:
• This tax credit provides for a tax credit...
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AGENCY: New Mexico incorporated municipalities and counties
DESCRIPTION: The Local Economic Development Act allows communities the option of offering local government aid to qualifying business entities for economic development projects.
STRUCTURE:
• One of LEDA’s advantages is that it allows municipalities and counties to...
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AGENCY: New Mexico incorporated municipalities and counties
ELIGIBILITY: Communities that have already passed the Local Economic Development Act (LEDA) are able to pass a LOGRT.
STRUCTURE:
• The community votes to raise its LOGRT.
• The rate is set at 1/8 of 1%.
•...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: The Low-Income Housing Tax Credit Program was created by the Tax Reform Act of 1986. The purpose of the program is to stimulate the development of low-income rental housing (new construction and rehabilitation) by providing tax credits to...
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AGENCY: Economic Development Department (EDD), Economic Development Division
DESCRIPTION: MainStreet provides technical assistance, services and resources to its affiliated non-profit organizations for downtown revitalization and redevelopment. It does so through the Four Point ApproachTM of the National Trust Main Street Center, providing strategic planning and...
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DESCRIPTION: Mesa Capital Partner’s mission is to grow small businesses by providing equity capital for expansion, investment and restructuring.
ELIGIBILITY: Early stage and small business sector located in geographic areas underserved by other capital providers.
STRUCTURE:
• Focuses on cash flow generation and sustainability...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: This loan program is for construction and permanent loans for affordable rental developments.
ELIGIBILITY:
• Eligible projects include new construction, substantial rehabilitation, refinancing or acquisition of projects having no less than five units per site. Detached, semi-detached, row...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: The purpose of Access Loans is to provide federally insured construction and permanent financing for small scale affordable housing projects throughout New Mexico. It is designed to minimize transaction and due diligence costs and expedite processing for small...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: The HOME/Rental Gap Financing Programs provide gap financing for a variety of affordable and special needs housing projects throughout the state of New Mexico. As gap financing, HOME funds are typically the last dollars committed to a project...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: The HOME/Single Family Development Program provides partial or “gap” financing to non-profit and for-profit developers, public and tribal entities, and Community Housing Development Organizations (CHDOs) for the construction, acquisition and rehabilitation of single family homes throughout New Mexico...
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AGENCY: Mortgage Finance Authority (MFA)
DESCRIPTION: The Housing Tax Credit Program (HTC) provides federal income tax credits to individuals or organizations that develop affordable housing through either new construction or acquisition and rehabilitation. The tax credits provide a dollar for dollar reduction in the...
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AGENCY: Navajo Nation, Division of Economic Development Support
DESCRIPTION: The division provides loans or loan guarantees to qualified Navajo individuals or Navajo-owned businesses. The program is intended to foster the establishment of new businesses or the expansion of existing businesses within the Navajo...
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AGENCY: New Mexico Finance Authority (NMFA)
DESCRIPTION: The NMFA has the authority to form, operate, own, or co-own any number of qualified community development entities to participate in the federal New Markets Tax Credits Program. The program was established primarily to provide greater access...
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AGENCY: New Mexico Community Capital
DESCRIPTION: New Mexico Community Capital’s mission is “to improve the lives of New Mexicans, particularly those in rural and economically under-served areas, by investing in New Mexican businesses, helping those companies prosper, and contribute to their communities.”
STRUCTURE:
•...
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DESCRIPTION: The NMFA is dedicated to improving the lives of New Mexicans by planning and financing infrastructure, strengthening the economy through public/private partnerships and setting the standard for superior, diverse, innovative and solution-driven financing.
ELIGIBILITY: Programs include a Public Project Revolving Fund, Drinking Water...
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AGENCY: Department of Cultural Affairs, Historic Preservation Division
ELIGIBILITY: The state income tax credit is available to owners of historic structures who accomplish qualified, rehabilitation on a structure or stabilization or protection of an archaeological site. Eligible applicants must own or lease a property that...
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AGENCY: New Mexico Economic Development Department (NMEDD)
DESCRIPTION: The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for new employees in newly created jobs in qualified expanding or relocating businesses.
ELIGIBLE USES:
• JTIP reimburses approved companies for a portion of new...
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AGENCY: New Mexico Manufacturing Extension Partnership (MEP)
DESCRIPTION: MEP is a 501(c) 3 non-profit corporation with an industry lead Board of Directors. Its mission is “to help New Mexico’s existing and emerging small and medium manufacturing enterprises strengthen their global competitiveness by extending advanced...
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AGENCY: New Mexico State Investment Council (SIC)
DESCRIPTION: The SIC invests in private equity through limited partnerships to enhance the economic climate in the State of New Mexico.
ELIGIBLE USE:
The SIC, through the Private Equity Investment Program, provides a source of equity to...
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AGENCY: Los Alamos & Sandia National Laboratories
DESCRIPTION: The New Mexico Small Business Assistance Program solves small business challenges through national laboratory expertise.
ELIGIBLE USES:
• Los Alamos and Sandia National Laboratory scientists and engineers provide technical assistance at no cost to small businesses...
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AGENCY: New Mexico Small Business Development Centers (NMSBDC)
DESCRIPTION: The mission of the NMSBDC is to strengthen the economy of New Mexico by providing direct assistance, entrepreneurial education and resource linkages designed to facilitate the retention and expansion of existing small businesses, and the...
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PROGRAM: New Mexico Workforce Connection
AGENCY: Office of Workforce Training and Development
DESCRIPTION: The NM Workforce Connection is a system that is integrated and coordinated through the alignment of economic development, education and job training programs for the purpose of increasing employment, job retention and...
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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...
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AGENCY: New Mexico Economic Development Department
DESCRIPTION: The Office of Business Advocacy advances New Mexico business and enterprise with expansion, retention and growth.
ELIGIBLE USE:
• Enables business owners to break through regulatory roadblocks and red tape.
• Helps navigate state government with assistance...
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DESCRIPTION: Production Credit Associations are customer-owned, credit cooperatives established by farmers and ranchers to provide themselves a source of reliable credit. PCAs form a nationwide system operated under the Farm Credit System created by Congress in 1917.
ELIGIBLE USE:
• PCAs may offer
•...
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AGENCY: Taxation and Revenue Department
ELIGIBILE USES: Real and tangible property is subject to taxation at the local level is eligible for the exemption.
PROGRAM LOAN/STRUCTURE:
• Maximum Program Benefits: Land, buildings and equipment associated with an eligible project are exempt from ad valorem...
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AGENCY: New Mexico State Investment Council (SIC)
DESCRIPTION: Severance Tax Permanent Fund (STPF) investment in the U.S. government guaranteed portion of business and/or agriculture loans by financial institutions.
ELIGIBLE USES:
• The STPF serves as a secondary market.
• Loan proceeds may be used...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service (RBS)
DESCRIPTION: The purpose of the program is to improve, develop or finance business, industry and employment, and improve the economic and environmental climate in rural communities (under 50,000 population) and non-urbanized...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Utility Service
DESCRIPTION: USDA Rural Development guaranteed loans made by lenders to finance the development of water and waste disposal systems, and other essential community facilities in rural areas.
ELIGIBLE USES:
• Water and...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service (RBS)
DESCRIPTION: The Cooperative Development Assistance Program helps rural residents form new cooperative businesses and improve the operations of existing cooperatives.
ELIGIBLE USES:
• Technical assistance.
• Cooperative development assistance.
• Education...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: Guarantees lender's loans to individuals and families in rural areas who are unable to obtain conventional financing at reasonable rates and who are without adequate housing. Secondary markets available to purchase...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: Guarantees lender's loans to construct rental housing for very low- to moderate- income income households; or elderly, handicapped, disabled persons with income not in excess of 115% of the median income...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: The Housing Preservation Grant (HPG) Program provides grants to sponsoring organizations for the repair or rehabilitation of low- and very low-income housing. Housing Preservation Grant assistance is available from grantees to...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service
DESCRIPTION: The purpose of the program is to finance business facilities and community development projects in rural areas. This is achieved through loans made by USDA Rural development to intermediaries. Intermediaries...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service
DESCRIPTION: This program, also known as the Rural Rental Housing or Section 515 Loan Program, was developed by the RD. The Multi-Family Program offers direct and guaranteed loans for purchasing, constructing and/or...
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AGENCY: U.S. Department of Agriculture Rural Development (RD), Rural Business-Cooperative Service (RBS)
DESCRIPTION: Programs authorized by the 2008 Farm Bill to provide financial support for the development of renewable energy projects to provide sources of energy other than petroleum based products.
PROGRAMS:
Repowering Assistance Program:...
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AGENCY: U.S. Department of Agriculture Rural Development (RD), Rural Business-Cooperative Service (RBS)
DESCRIPTION: The Rural Business Enterprise Grants Program provides grants for rural projects that finance and facilitate development of small and emerging rural businesses, help fund distance learning networks and employment related adult education...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service (RBS)
DESCRIPTION: The purpose of this program is to promote sustainable economic development in rural communities with exceptional needs through provision of training and technical assistance for business development, entrepreneurs, and...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Utility Service (RUS)
DESCRIPTION: The purpose is to provide zero interest loans to electric and telephone utilities financed by the Rural Utility Service (RUS) to promote sustainable rural economic development and job creation projects...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: Program provides loans for very low- and low-income families who are without adequate housing and live in rural areas.
ELIGIBLE USES:
• Home acquisition, construction, improvement and relocation. Also the...
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AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: The Rural Housing Repair and Rehabilitation Loan and Grant Programs provide loans and grants for home repair and improvements in rural areas.
ELIGIBLE USES:
• Funding for the removal of health...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: Loans for public or private non-profit organizations to buy and develop building sites.
ELIGIBLE USES:
• Construction of access roads, streets and utilities.
• Section 523 Loan funds may be...
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AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS)
DESCRIPTION: RD Self Help provides grants for technical assistance in building low-income housing.
ELIGIBLITY: Uses include technical assistance that will help very low- and low-income families build homes in rural areas...
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AGENCY: New Mexico State Investment Council (SIC)
DESCRIPTION: Often referred to as the "Oregon Plan". The Severance Tax Permanent Fund (STPF) may be invested in participations of real estate loans made by financial institutions.
ELIGIBLE USES:
• Loan proceeds may be used:
• Purchase...
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AGENCY: Cibola Communities Economic Development Foundation
DESCRIPTION: A variety of incentives offered to encourage economic development in Cibola County.
PROGRAM/LOAN STRUCTURE: Financial assistance is provided through gap financing and small business loans.
QUALIFICATION CRITERIA/COMMENTS:
• Available to qualified manufacturing and processing businesses located or willing...
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AGENCY: Energy, Minerals, and Natural Resources Department
DESCRIPTION: To encourage the growth of and investment in renewable sources of energy, the state of New Mexico allows a certain amount of credit for those eligible against their corporate income tax.
ELIGIBILITY: A person is eligible...
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AGENCY: Taxation and Revenue Department
ELIGIBILITY: Any taxpayer that is a qualified research and development small business is eligible. The costs of a qualified research and development business are eligible for this tax credit.
PROGRAM/LOAN STRUCTURE:
• Maximum Program Benefits: Credit may be taken...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: Employers in rural areas will be entitled to a tax credit when expanding their work force.
PROGRAM/LOAN STRUCTURE:
• The Economic Development Department will determine which employers are eligible and will report the listing to the Taxation and...
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AGENCY: Enchantment Land Certified Development Company (ELCDC)
DESCRIPTION: The ELCDC provides free, personalized pre-loan and post-loan advice and training to borrowers.
ELIGIBLE USES: The fund’s training and technical services include, but are not limited to:
• Small Businesses:
• Developing business plans;
• Financial...
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AGENCY: Enchantment Land Certified Development Company (ELCDC)
DESCRIPTION: The SBA 504 Program provides “economic development financing specifically designed to stimulate private sector investment in long-term fixed assets to increase productivity, create new jobs, and increase the local tax base”.
ELIGIBILITY:
• Typical candidates for 504...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: CAPLines are revolving lines of credit which allow a borrower to obtain funds as needed from a pre-approved credit account. The general formula is up to 80% of accounts receivable no older than 90 days and 50% of...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: The Delta program provides financial and technical assistance to defense dependent small businesses adversely affected by defense reductions. The goal of the program is to assist businesses to diversify in the commercial market while remaining part of the...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: Designed to provide short-term working capital to exporters.
ELIGIBLE USES:
• Proceeds can be used
• To purchase land or buildings, to cover new construction as well as expansion or conversion of existing facilities;
• To acquire equipment,...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: Assistance to eligible small businesses in an industry (1) engaged or preparing to engage in international trade or (2) adversely affected by import competition.
ELIGIBLE USES: The proceeds of a SBA International Trade loan may be used to...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: Often referred to as the 7(a) Program. Guarantees loans made by lenders to small businesses. The lender may sell the guaranteed portion into the secondary market or retain the asset.
ELIGIBLE USES:
• Includes the purchase of fixed...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: Pollution Control Loans are 7(a) Loans with a special purpose of pollution control. The program is designed to provide financing to eligible small businesses for the planning, design, or installation of a pollution control facility. This facility must...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: The SBA offers guaranteed loans to employee trusts either to (1) help finance the growth of its employer’s small business or (2) to purchase ownership or voting control of the employer.
ELIGIBLE USES:
• The SBA requires that...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: Through the 8(a) Program, small businesses owned by socially and economically disadvantaged persons may obtain federal government contracts and other assistance in developing their business.
ELIGIBLE USE:
• The SBA acts as a prime contractor and enters into...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: SCORE is a volunteer program sponsored by the SBA. The program matches volunteers with small business owners who need advice.
ELIGIBLE USES:
• In-depth counseling and training in a variety of subjects is provided to existing businesses, including:...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: The Small Business Innovation Research Program provides an opportunity for small technology-based firms to compete for federal research and development contracts.
ELIGIBLE USE:
• Phase I: Exploration of the technical merit or feasibility of an idea or technology...
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AGENCY: Small Business Administration (SBA)
DESCRIPTION: SBIC's are privately-owned and operated investment companies licensed by the SBA to provide equity, venture capital and/or loans to small businesses and minority-owned businesses.
ELIGIBLE USE:
• The SBIC must provide equity capital to small businesses.
• The...
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AGENCY: Taxation and Revenue Department
DESCRIPTION: As of the 2006 Legislature, a 10% tax credit on the installation and purchase of solar thermal and photovoltaic systems in a residence, business, or agricultural enterprise in New Mexico is allowed; the desire is to encourage the...
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DESCRIPTION: The Space Alliance Technology Outreach Program provides a free service designed to speed the transfer of space technology to the private sector by assisting small businesses facing technical challenges.
ELIGIBILITY: Businesses include but are not limited to consumer goods, technology, manufacturing, distribution, safety...
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AGENCY: Los Alamos National Laboratory, Phillips Laboratory, Sandia National Laboratory and University of New Mexico (UNM)
DESCRIPTION: Technology transfer is now a mission of all Department of Energy Laboratories. The labs and UNM have expressed their eagerness and ability to develop cooperative agreements with industry...
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AGENCY: North Central New Mexico Economic Development District (NCNMEDD) DESCRIPTION: The Tri-County Regional Revolving Loan Fund is an incentive implemented to assist counties impacted by program changes experienced by Los Alamos National Laboratory (LANL).
ELIGIBLE USE:
• The types of organizations and projects that...
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AGENCY: UNM Bureau of Business and Economic Research (BBER), University of New Mexico
DESCRIPTION: Provides research and information services for businesses and economic development organizations. BBER maintains a socioeconomic data bank and serves as a repository for U.S. Census Bureau data.
ELIGIBLE USES:
•...
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AGENCY: Utility Companies
DESCRIPTION: Because a healthy business environment is important to utility companies, most have business development specialists on staff.
ELIGIBLE USES:
• Most utility companies provide rate incentives to their industrial users.
• In addition, most utility companies provide referrals to:
•...
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AGENCY: Department of Veterans Affairs (VA)
DESCRIPTION: Assists eligible veterans to purchase single-family homes by guaranteeing a lender's mortgage against loss. Each qualified veteran receives a certificate of eligibility which provides a maximum entitlement.
ELIGIBLE USES: VA-guaranteed financing may be used to buy a...
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DESCRIPTION: Venture capital is a source of private capital.
ELIGIBLE USE:
• Fund raising technique.
• Generally requires the exchange of equity in return for funding.
• Generally requires a high rate of return on investment (20% per annum).
• Typical investment ranges from...
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AGENCY: National Minority Suppliers Development Council (NMSDC) or Small Business Administration (SBA)
DESCRIPTION: The primary objective of the National Minority Supplier Development Council is to provide a direct link between corporate America and minority-owned businesses. The Minority and Women-Owned Business Vendor-Partner Program facilitates the...
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DESCRIPTION: WESST is a non-profit organization whose purpose is to help create economic security by reducing the risks of starting and owning a business.
ELIGIBLE USES:
• WESST will assist a business owner in:
• Assessing new business ideas;
• Determining financialoptions;
• Pricing products...
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