In order to support business growth in New Mexico and to create and retain jobs, NMEDD encourages banks and other financial institutions to make loans to small businesses in “under-served” markets. NMEDD can pledge cash to cover a collateral shortfall of a loan in order to enable financing that otherwise might not be available to a small business. The program is administered through the NMEDD’s Finance Development Team.
Eligible borrowers must meet these criteria:
Loan proceeds can be used toward the following:
To learn more, please contact 505.827.0264 or email Johanna.firstname.lastname@example.org.
Following is a list of actively enrolled lending institutions in the Collateral Assistance Program. The Program is not limited to these institutions, NMEDD is actively enrolling lenders and will update this list as more lenders are enrolled.
|Century Bank||DreamSpring||Enchantment Land CDC|
|First American Bank||First National Bank||First New Mexico Bank Las Cruces|
|First Savings Bank||Lea County State Bank||Lift Fund New Mexico|
|The Loan Fund||Main Bank||Pinnacle Bank|
|Pioneer Bank||RCAC||Sandia Area Federal Credit Union|
|Southwest Capital Bank||Tierra Del Sol Housing Corporation||WESST|
|Western Bank||Western Bank of Clovis||Western Commerce Bank|
|Western Heritage Bank|
To enroll in the program as a lender, please fill out and submit the following documents to Johanna.Nelson@state.nm.us or call: 505.469.6204
On a per project basis the following application will need to be filled out between lender and borrower and submitted: