New Markets Tax Credit Program
The New Markets Tax Credit Program by New Mexico Finance Authority offers flexible, below-market financing for projects that drive economic growth in rural or low-income New Mexico communities.
Funder: New Mexico Finance Authority
Due Dates: Quarterly deadlines (next expected: December 2026) | Rolling for rural/non-metro projects (subject to funding availability)
Funding Amounts: Up to $7 million per project (main program); $500,000–$4 million (Small Loan Pool); up to 40-year terms, interest-only first 7 years, below-market rates
Summary: Provides flexible, low-cost financing to for-profit and nonprofit businesses in rural or low-income New Mexico communities for job creation and economic growth.
Key Information: Applicants must secure a primary lender willing to leverage its loans through the program.
Description
The New Markets Tax Credit (NMTC) Program, administered by the New Mexico Finance Authority (NMFA), is designed to expand capital access for businesses operating in federally designated rural or low-income census tracts within New Mexico. By leveraging private investment through the sale of federal tax credits, the program offers flexible, below-market financing to qualifying projects, stimulating job creation and economic development. Funding is available for a wide range of development activities, including real estate, equipment, and working capital, with a dedicated Small Loan Pool for projects under $4 million.
