05/05/2014
Santa Fe. The Loan Fund, the state’s oldest and most experienced nonprofit community lending organization, has received a $250,000 investment from Santa Fe Community Foundation, under the Foundation’s Local Impact Investing Initiative. The investment will directly fund affordable loans to low-to-moderate-income entrepreneurs and nonprofits in Santa Fe, Rio Arriba, Taos, Los Alamos, San Miguel and Mora Counties. The Loan Fund currently has $1.8 million in loans outstanding in Santa Fe, Rio Arriba, Taos, Los Alamos, San Miguel and Mora Counties. These loans have helped secure more than 200 jobs. People interested in applying for assistance should call 505-243-3196 or 866-873-6746.
“We are excited to partner with The Loan Fund on this investment” said Brian T. Byrnes, President/CEO of the Santa Fe Community Foundation. “With a proven track record of creating economic opportunities for underserved small businesses, entrepreneurs and nonprofits in our region, The Loan Fund is a natural partner for our Local Impact Investing Initiative, which will deploy a portion of our invested assets into causes that achieve social impact and generate a financial return. This investment will direct additional capital to low-income communities in a way that complement the grants we make to enhance economic playing field for all northern New Mexicans.”
“We are very excited that this partnership between The Loan Fund and the Santa Fe Community Foundation will provide new resources to empower individuals and families in northern New Mexico whose dreams are to start or grow their own small businesses. Entrepreneurship has proven to be viable path for many New Mexicans to enhance their economic opportunities,” states Leroy Pacheco, President/CEO of The Loan Fund.
About The Loan Fund (dev.loanfund.org)
The Loan Fund is an Albuquerque-based nonprofit organization that provides loans from $5,000 to $500,000 and consulting services to small businesses, entrepreneurs, and nonprofits across the state that are typically unable to access credit through traditional lending sources . Founded in 1989, The Loan Fund has made over $54 million in loans since inception that have secured more than 7,300 jobs in New Mexico.
About the Santa Fe Community Foundation (www.santafecf.org)
Founded in 1981, the Santa Fe Community Foundation is a tax-exempt public charity that works with values-driven donors, who live in or have an affinity for Santa Fe and Northern New Mexico, meet their charitable goals. SFCF provides funding and technical assistance to nonprofit organizations that will enable them to carry out their essential work efficiently and effectively. SFCF funds nonprofit programs serving the populations in Santa Fe, Los Alamos, Mora, Rio Arriba, San Miguel and Taos Counties.
###