Access to capital unites state’s entrepreneurs

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On the surface, Albuquerque’s Clínica la Esperanza, a medical clinic, has little in common with Desert Aire Copy and Fax Services, a convenience store and copy center that serves residents of the isolated border colonia of Chaparral. And it apparently has nothing in common with SSC Construction, a Native American-owned construction company based in San Felipe Pueblo that builds homes on tribal lands throughout New Mexico.
Yet all of these businesses got an early boost with loan funds that originated with the New Mexico Small Business Investment Corporation and were channeled through its network of lenders.
NMSBIC promotes economic development statewide by deploying capital to every area of New Mexico, including communities where it doesn’t traditionally flow. To that end, the organization will convene its August meeting in Española, where it hopes to attract the owners of new and expanding local businesses hungry for the capital and expertise it and its lending and equity partners can offer.
Partners in development
Since its creation by the Legislature in 2001, NMSBIC has managed funds allocated from the Severance Tax Permanent Fund and distributed money through its lending and equity partners to small businesses statewide. Some of those partners include The Loan Fund, Accion and WESST.

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