Community Meeting 2016 – Accessing Capital in New Mexico
Capital providers offer entrepreneurs individual consultations at NMSBIC meeting in Albuquerque
- What: NMSBIC community meeting: Accessing Capital in New Mexico
- When: Monday, Oct. 24, 2016 at 11:00 a.m.
- Where: CNM Workforce Training Center, 5600 Eagle Rock Ave. NE, Albuquerque
- Why: To connect businesses to capital and resources that can help them grow
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 start at 11:00 a.m. Oct. 24 at CNM Workforce Training Center, 5600 Eagle Rock Ave. NE in Albuquerque.
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 on Eventbrite at http://bit.ly/2dPGIdA.
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. These meetings allow them to be 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 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, Flywheel Ventures, Verge Fund and the Small Business Development Center at CNM. After the presentation, there will be time for one-on-one meetings with the panelists and general information gathering in the form of a mini tradeshow.
The panel will be moderated by Russell Cummins, NMSBIC executive director and investment adviser.
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, which include the New Mexico Community Development Loan Fund (The Loan Fund), Accion, WESST, Rio Vista Growth Capital and the New Mexico Mortgage Finance Authority.
Since 2001, the NMSBIC has provided funding for 3,793 loans totaling more than $64 million, through its lending partners, to virtually every community in the state.
The NMSBIC was funded by an allocation from the Severance Tax Permanent Fund. For more information, please visit www.nmsbic.org.