State Small Business Credit Initiative (SSBCI) Loan Participation Program
The State Small Business Credit Initiative Loan Participation Program from New Mexico Finance Authority supports New Mexico businesses by partnering with lenders to boost access to capital for growth and innovation.
Funder: New Mexico Finance Authority
Due Dates: Rolling (open until funds are exhausted)
Funding Amounts: $50,000–$7,500,000 per loan; up to 49% participation by NMFA; terms up to 36 months (working capital) or up to 10 years (real estate).
Summary: Supports New Mexico small businesses (for-profit and nonprofit) by reducing lender risk and expanding access to capital for business growth, equipment, and facility investments.
Key Information: Application must be initiated through a participating lender; NMFA participation is limited to 49% of the loan.
Description
The State Small Business Credit Initiative (SSBCI) Loan Participation Program, administered by the New Mexico Finance Authority (NMFA), is designed to increase access to capital for small businesses across New Mexico. NMFA partners with approved financial institutions to purchase a portion of a loan (or provide a subordinate loan) alongside private lenders, reducing lender risk and enabling more favorable terms for borrowers. The program supports business startups, expansions, facility and equipment investments, working capital, and technology upgrades. Both for-profit and nonprofit businesses in New Mexico are eligible, with a focus on job creation and economic development, especially in underserved and rural communities.
