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By 2001, The Loan Fund was actively expanding services to underserved populations such as Native Americans and nonprofit organizations. That year, it opened a satellite office in Gallup, on the edge of the Navajo Nation, to better serve Navajo and other Native entrepreneurs in western New Mexico. The Loan Fund also partnered with Laguna Pueblo in 2001 to jump-start Native-owned businesses: it matched $200,000 of its funds with $100,000 from Laguna to make the very first loan to a Laguna Pueblo member enterprise, a traditional jewelry and gift shop called Turquoise Lady in Albuquerque’s Old Town. At the same time, the organization broadened its mission to include nonprofit groups as key borrowers, recognizing their role in community development. A two-year pilot project (the Las Colonias/Dream Team initiative) brought expanded technical assistance to communities in southern New Mexico, and in 2001 alone, The Loan Fund made 15 loans (over $558,000) to nonprofit organizations working in low-income areas. These steps deepened The Loan Fund’s impact in communities of color and high-poverty regions, affirming that economic opportunity should extend to all New Mexicans, not just those in the metro areas.

The Loan Fund

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