01/04/2016
Albuquerque, NM. The Loan Fund, a statewide nonprofit community lending organization, is pleased to announce that 2015 was the organization’s highest lending volume to New Mexico’s small businesses, entrepreneurs, and nonprofit organizations in its 26 year history.
In 2015, The Loan Fund:
• Made 95 new loans throughout New Mexico totaling $7.3 million.
• Helped secure over 540 New Mexico jobs with these loans
• Financed 7 start-up businesses
• Finished the year with a $13.1 million active loan portfolio Small businesses that received loans from The Loan Fund in 2015, included:
• Taos Mountain Energy Foods (Taos/Questa): producers of Taos Mountain Energy Bars
• Strong Is Sexy d.b.a. Rad-ish (Albuquerque): startup health food restaurant
• Quick Service (Las Cruces): printing and reproductions
• Pulped and Squeezed (Ruidoso): startup organic juice bar
• Central Features Contemporary Art (Albuquerque): art gallery
• New Mexico Algae Production (Santa Fe): algae producers for pharmaceutical and nutritional supplement markets
“Last year demonstrated the creativity and resiliency of New Mexico’s entrepreneurs,” says Leroy Pacheco, President/CEO of The Loan Fund.
“The Loan Fund was able to help many new and growing small businesses do exciting and innovative things. And we were also able to provide some multi-generational small businesses with the capital they needed for continued long-term success.”
About The Loan Fund:The Loan Fund was founded in 1989 to help alleviate poverty. The Loan Fund is New Mexico’s largest and most experienced nonprofit community lending organization, providing loans and consulting services to small businesses, entrepreneurs, and nonprofit organizations that are typically unable to obtain financing through traditional lending sources. The Loan Fund’s loans generally range from $5,000 to $500,000. Since inception, The Loan Fund has made over $65 million in loans that have helped secure over 8,200 New Mexico jobs.