Community development, nonprofit & banking community mourn loss of longtime Loan Fund Leader
With heavy hearts, we share the news of the passing of F. Leroy Pacheco, our President and CEO for 18 years.
Born and raised in Northern New Mexico, Leroy worked in community development and banking for more than 35 years. His experience earned him statewide and national recognition from the U.S. Small Business Administration and the U.S. Department of Commerce, including the 2019 SBA New Mexico Legacy Award and the 2011 Financial Services Champion Award.
Appointed President and CEO of the New Mexico Community Development Loan Fund, dba The Loan Fund, in January 2007, Leroy grew the loan portfolio by more than $29 million for the nonprofit. The Loan Fund is one of 19 certified Community Development Financial Institutions (CDFIs) in the state.
Under his leadership, the organization turned a profit, experiencing substantial growth in the last five years through investments, bank and foundation grants, and federal grants. In 2024 alone, the organization made more than $8 million in loans and created or preserved more than 451 jobs at businesses from Raton to Las Cruces. The Loan Fund has managed a loan portfolio exceeding $130 million, which helped create or preserve more than 13,000 jobs for New Mexicans, since its inception of June 1989.
Leroy served on several boards, including the American Indian Chamber of Commerce of New Mexico, the Black Chamber of Commerce of New Mexico, and served as President & CEO of the Albuquerque Hispano Chamber of Commerce. Other board seats included Finance New Mexico, the Advisory Board of the Atrisco Heritage Foundation, the New Mexico Small Business Development Center, and the Advisory Board of Greater Albuquerque.
He was the former chief administrative officer of Roses Southwest Papers, Inc., and served as the senior consultant for the All Indian Pueblo Council, the senior procurement analyst for the National Economic Development Association, and spent several years with the U.S. SBA and in private banking. In 1995, Leroy was named by the former New Mexico Business Journal (now Albuquerque Business First) as one of the Top 20 Most Influential People in Albuquerque.
From 1997 to 2003, Leroy served as President & CEO of ACCION Chicago and was appointed as Executive Director of ASSETS Chicago in 2004.
Leroy, who grew up in Mora, earned a bachelor’s degree in finance from New Mexico State University and completed coursework for a master’s certificate in entrepreneurship from DePaul University. He eventually found his way back home to New Mexico to support the state’s business community.
Eric Hall, Board Chairman, said Leroy was a man for the ages.
“He was a force that boosted so many New Mexicans and built such strong momentum that is now felt and can be carried into the future,” he said.
The Board of Directors has appointed the organization’s Chief Financial Office Conchie Searle as acting CEO.
“Leroy was a dear friend to many and an influential business leader,” Searle said. “Our challenge now is to continue the precedent that he set.”
Leroy was also well known for supporting business owners throughout New Mexico, often visiting, offering support and advice, and purchasing their goods, including honey, chile, and nutrition bars. Leroy also supported Native American communities as The Loan Fund is one of the few lenders that lend to residents on sovereign reservation land in New Mexico. He was also very generous, giving to community events and schools.