Albuquerque, NM. Greater Albuquerque Chamber of Commerce’s Board of Directors has named The Loan Fund the recipient of a Volunteer Recognition Award - Small Business Advocate for 2013. The award is given annually to an individual or organization that has been an effective advocate for small business in New Mexico. According to the Chamber, “The Loan Fund has helped hundreds of people learn, grow, and succeed – creating sustainable businesses and thousands of jobs for our community.”
A non-profit alternative lender, The Loan Fund has just topped the $50 million mark in cumulative lending since it was established in 1989, which has helped to create or preserve more than 7.000 jobs statewide.
Founded by the New Mexico Conference of Churches with a mission to help alleviate poverty, The Loan Fund is New Mexico’s largest and most experienced nonprofit alternative lender, providing loans and technical assistance to small businesses, microenterprises, and non-profit organizations that are typically unable to obtain financing through traditional lending sources. The Loan Fund’s loans range from $5,000 to $500,000. The loan repayment rate from borrowers is 97.5%.