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NEW Mexico Community Development Loan Fund
NEW Mexico Community Development Loan Fund
Amount
Varies
Deadline
Rolling
Odds
Not published
Effort
30 to 60 min
Can you get this?
✓For small businesses or nonprofits in New Mexico
✓For those unable to secure traditional bank financing
✓Serves low-income and underserved communities
✓Microloans, small business, and nonprofit loan types available
Your real odds
No approval rate is published, but the fund has disbursed loans to hundreds of New Mexico businesses since 1989 and recorded a record $5.6 million in loans in the second half of 2023 alone.
This is a mission-driven CDFI designed to approve borrowers banks reject, and credit flexibility is built into how it operates, though you still need to demonstrate a viable business.
What it takes
Review loan types and use the calculator30 to 60 min
Gather financial statements1 to 3 days
Submit application online or book appointment1 to 2 hrs
Worth knowing
Banks, credit unions, and community organizations actively refer clients to The Loan Fund, so if you have been declined elsewhere, that rejection tends to strengthen your case for financing here.
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