Business Financing

About

NMFA has been active in private lending since 1994 with the establishment of the Primary Care Capital Fund. With the creation of the Statewide Economic Development Finance Act in 2003, the Legislature authorized NMFA to issue bonds, make loans, and provide loan and bond guarantees on behalf of other private entities, including businesses and nonprofit corporations. NMFA partners with the New Mexico Economic Development Department in creating and operating finance programs that help stimulate the economy through job creation and business growth, particularly in rural and underserved areas of New Mexico. NMFA has implemented several economic development programs that meet these goals and help improve communities in New Mexico.

On November 30, 2021, the New Mexico Finance Authority Oversight Committee approved the Cannabis Microbusiness Loan Program, a new, $5-million program that will offer affordable loans to small licensed cannabis establishments that demonstrate the capacity to operate but are unable to fund start-up costs. The program rules and policies were adopted in November, 2021. Information for potential applicants will be coming soon, and the application for this program is expected to be available by February 2022.