Areas Served: Statewide New Mexico
Smart Money is a New Mexico loan participation program administered by The New Mexico Finance Authority.
NMFA provides bank participation loans, direct loans and loan guarantees to New Mexico businesses.
The SMART Money loan program is designed to lower the cost for the borrower and share the risk with the bank.
The borrower receives a fixed interest rate typically three to four percent below the bank’s rate on the NMFA portion of the loan.
LOAN CRITERIA: Business owners or entrepreneurs can utilize Smart Money for the following types of business loans: land, buildings, equipment, infrastructure and working capital The Smart Money share of the loan will not exceed $2 million and no more than 49% of the total loan amount.
Terms and interest are negotiated between the borrower and the bank.
For every $50,000 borrowed, at least 1 job must be created.
Contact InformationNew Mexico Finance Authority
Address: 207 Shelby Street
City: Santa Fe
State: New Mexico
Website:
http://www.nmfa.net
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