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Business loan fund seeks applicants

Loan funds may be used for working capital, equipment, real estate and improvements. Small businesses are encouraged to apply. (Stock photo)
Northwest New Mexico Council of Governments fund is accepting applications

Northwest New Mexico Council of Governments administers a loan fund that is dedicated to serving small businesses in San Juan, McKinley and Cibola counties.

Loans ranging from $20,000 to $100,000 are available to businesses that have been operating for at least two years.

Successful applicants cannot be operating a startup business, must show proof of a positive cash flow and cannot use the money for construction. The loan money is designed to be used for working capital, machinery and equipment, real estate acquisition, tenant improvements or refinancing of existing business debts.

NWNMCOG said in a news release that the ideal applicant is somebody, including small businesses that may be paying high interest rates often associated with online lenders.

For more information, contact Michael Sage at (505) 722-4327 or msage@nwnmcog.org.