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NMSBIC Meeting Brings Capital Providers to Española

on August 12, 2013 - 8:35am

NMSBIC News:

The New Mexico Small Business Investment Corporation (NMSBIC) will host a community meeting to introduce owners of new and expanding businesses to sources of capital and to knowledgeable resources that can help their businesses grow.

The meeting, called Accessing Capital in New Mexico, is open to the public and will be 5:30-7:30 p.m. Thursday, Aug. 22 at the Santa Claran Hotel, Rio Grande Room, 460 N. Riverside Dr. in Española.

New Mexico and Española business-service providers will discuss free and low-cost services, and a panel of representatives from lending organizations will answer questions from the public. Panelists will include representatives from The Loan Fund, Accion, WESST, the Regional Development Corporation, and the Small Business Development Center at Northern New Mexico College. The panel will be moderated by NMSBIC Executive Director and Investment Advisor Russell Cummins.

NMSBIC meetings, which are open to the public, are held eight to 10 times a year in Albuquerque, but once a year the board hosts a forum to introduce NMSBIC financial program lenders to other communities.

“The NMSBIC board is excited to hold its August meeting in Española and to have this opportunity to share information with members of the community in Northern New Mexico,” said Lupe Garcia, NMSBIC board member, and owner of Garcia Tires based in Santa Cruz.

The NMSBIC was created in 2001 under the New Mexico Small Business Investment Act to help promote economic development throughout the State of New Mexico. The NMSBIC does this by providing equity and debt capital to small businesses in coordination with cooperative agreement partners under its Lending and Equity Programs. NMSBIC’s Lending Program cooperative agreement partners include Accion New Mexico, New Mexico Community Development Loan Fund (The Loan Fund), and WESST. Equity Program cooperative agreement partners include Flywheel Ventures, New Mexico Community Capital, New Mexico Mezzanine Partners, and Verge Fund. Since 2004, the NMSBIC has made more than 2,600 loans through its lending partners to virtually every community in the state.

The NMSBIC is funded by an allocation from the Severance Tax Permanent Fund. For more information, visit www.nmsbic.org.


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