Smart Money Business Loan Participation Program
The Smart Money Business Loan Participation Program by New Mexico Finance Authority helps New Mexico businesses access affordable capital for projects that drive economic growth, especially in underserved areas.
Funder: New Mexico Finance Authority
Due Dates: Rolling
Funding Amounts: NMFA may purchase up to 49% of loans ranging from $50,000 to $7,500,000; loan terms up to 25 years at low, fixed interest rates.
Summary: Supports New Mexico businesses and nonprofits—especially in rural and underserved areas—by providing partial loan participation to increase access to capital for eligible projects.
Description
The Smart Money Business Loan Participation Program, managed by the New Mexico Finance Authority (NMFA), is designed to stimulate economic growth by increasing access to capital for businesses and nonprofit organizations in rural and underserved communities across New Mexico. NMFA partners with local banks to purchase up to 49% of eligible loans, allowing borrowers to benefit from low, fixed interest rates for projects such as working capital, equipment acquisition, and building improvements. The program leverages state resources to support job creation and local enterprise development throughout New Mexico.
