NMSBIC Commits More Funds to Clearinghouse CDFI

The NMSBIC voted at its April 2025 board meeting to increase funding to Clearinghouse CDFI (CCDFI). The vote came after a presentation by Jay Harrison, Chief Investment Officer for CCDFI, in which Mr Harrison requested a $10 million increase in its line of credit, from $20 million to $30 million. Mr. Harrison said CCDFI has fully deployed its current $20 million line of credit, and he anticipates easily deploying an additional $5 million, with the full $10 million likely to be deployed within the next year. He added that a $4.5 million construction loan in Gallup is currently in process, and it could be funded with NMSBIC funds.

Clearinghouse CDFI has been successful in deploying NMSBIC funds and providing small business loans in New Mexico. Current loans pledged to NMSBIC include hotels, daycare centers, charter schools, nonprofit offices, and mixed-use developments in Albuquerque, Las Cruces, Santa Fe, and Los Lunas, with an average loan balance of approximately $3.5 million. CCDFI has a solid financial position with total assets of $751 million and equity of $117 million, making up 16% of total assets. The organization has been consistently profitable for 25 years.

More recently, CCDFI has raised $33 million toward a $50 million new capitalization goal to support future lending.

CCDFI is one of the few CDFIs that do construction loans, and Mr. Harrison said the organization is making loans that traditional banks won’t do. The interest rate offered by CCDFI is the best rate that its borrowers can find, he said, and the NMSBIC line of credit provides a competitive advantage in New Mexico.

Learn more about Clearinghouse CDFI, and find other NMSBIC-funded lenders at the Finance New Mexico project.