NM Collateral Support Loan Participation Program - Small Business

The New Mexico Finance Authority

and

New Mexico Economic Development Department’s

Finance Development Team

Invites You to A Presentation Outlining

NM Collateral Support Loan Participation Program

Santa Fe - Community Convention Center

• 11/13 (2pm – 5pm)
• 2pm-3pm Borrowers w/30 minutes one on one
• 3:30-4:30 Lenders w/30 minutes one on one

Albuquerque – Science & Tech Park
851 University SE, 2nd Floor Board Room

• 11/14 (3pm-4pm borrowers; 4pm-5pm lenders)

Grants-SBDC Conference Room
Gallup-Chamber of Commerce

• 11/15 (10-11am borrowers; 11am-noon lenders)
• 11/15 (1:30pm-2:30 lenders; 2:30-3:30pm borrowers)

Farmington –Quality Center for Business
5101 College Blvd

• 11/27 (1-2 for lenders; 2:30-3:30 borrowers)

Las Cruces – Dona Ana Comm. College Workforce Center
Room 127 - 2345 E Nevada

• 12/3 (11am-noon lenders; 1pm-2pm borrowers)

Hobbs – location TBD

• 12/5 (1pm-2pm borrowers; 2:30-3:30pm lenders)

In 2011, New Mexico was authorized to receive $13,168,350.00 from the US Department of Treasury as part of the State Small Business Credit Initiative provided through the Small Business Jobs Act of 2010. The Finance Authority administers these funds on behalf of the State through the Collateral Support Loan Participation Program.


Through the Collateral Support Participation Program, the Finance Authority is able to partner directly with banks to provide capital to credit worthy businesses seeking to expand, create or retain jobs by offering an efficiently lower the interest rate paid by the business. To mitigate the bank’s risk by purchasing a portion of the bank’s loan, often in a subordinated collateral position. The amount of the Finance Authority’s participation will vary based upon the location of the business, the term of the loan and the collateral position offered to the Finance Authority. *The application for this program is submitted by the bank on behalf of the business.

SMALL BUSINESS ELIGIBILITY CRITERIA:

• Be located in New Mexico
• Use the loan proceeds for business purposes
• Have 500 or fewer employees
• Be a non-profit corporation, for-profit corporation, LLC, partnership, sole proprietorship, cooperative or other entity that is authorized to conduct business in the state of New Mexico
• Meet the bank’s lending requirements with the exception of the deficient collateral, which is enhanced through the program.

You may direct any inquiries or questions to:
John Brooks (jbrooks@nmfa.net) at 505-984-1454 or Juan Torres (juan.torres@state.nm.us) at 505-827-0238