Community Meeting 2015 – Accessing Capital in New Mexico

NMSBIC Meeting Brings Capital Providers to Los Lunas on Friday, Oct. 23, 2015

The New Mexico Small Business Investment Corporation (NMSBIC) will host a community meeting to introduce owners of new and expanding businesses to sources of capital and knowledge that can help their businesses thrive. The meeting, called Accessing Capital in New Mexico, is open to the public and will be held on Friday, Oct. 23, from 11:30 am to 1:30 pm the Transportation Center, 101 Courthouse Rd, Los Lunas, New Mexico.

All members of the public are welcome, especially anyone interested in starting or growing a small business in New Mexico. Lunch will be provided. To reserve a seat, register here. 

Business owners and aspiring entrepreneurs have found the annual outreach meetings to be ideal settings for interacting with lenders and getting answers to their questions about free and affordable business services, and small business loans. Experts provide feedback in public forums and face-to-face private discussions, and they offer advice that’s specific to the needs and circumstances of individual businesses.

At past meetings, participating business owners have learned where to apply for loans for a new or growing business. Often these new or aspiring business owners can’t access traditional bank financing. At these meetings, they have been personally referred to representatives of nonprofit lending organizations such as The Loan Fund, Accion and WESST to set the process in motion.

At this year’s meeting, New Mexico and Los Lunas business-service providers will discuss what resources are available to entrepreneurs, and a panel of representatives from loan organizations will answer questions from the audience. Panelists include representatives from The Loan Fund, Accion, WESST, Rio Vista Growth Capital, and Enchantment Land CDC. After the presentation, there will be time for one-on-one meetings with the panelists.

The panel will be moderated by Russell Cummins, NMSBIC executive director and investment adviser.

Los Lunas Mayor Charles Griego will provide welcoming comments. Ralph Mims, economic development manager for the Village of Los Lunas, will be on hand to discuss resources available from the village.

The NMSBIC was created in 2001 under the New Mexico Small Business Investment Act to help promote economic development throughout the state. The NMSBIC does this by providing funding for small business loans, through its Lending Program partners.

Since 2004, the NMSBIC has provided funding for more than 3,500 loans, through its lending partners, to virtually every community in the state. Of that number, 146 loans totaling $2.1 million went to Valencia County businesses to support 299 jobs.

The NMSBIC is funded by an allocation from the Severance Tax Permanent Fund. For more information please visit www.nmsbic.org.