Areas Served: City of Santa Fe
The Santa Fe Loan Fund provides loans, business training and consulting to entrepreneurs and small businesses that have difficulty in securing traditional commercial credit.
Loans can range from $5,000 $100,000 and can be used for working capital, equipment, building purchase or renovation and land acquisition.
Interest rates are from 6-8%.
The fees for the loans are 2% for loans up to $15,000 and 1% for loans larger than $15,000. The loan terms are from 1-10 years.
It will take approximately 1-3 weeks to process your request after a completed loan application is received.
The Loan Fund provides complimentary technical assistance to entrepreneurs or businesses receiving a loan.
LOAN CRITERIA Preference will be given to companies who fit into one of the City of Santa Fe’s Economic Development Target Sectors (Media, Technology, Green, Knowledge Based Enterprises and Arts & Culture).
Entrepreneurs or businesses who create jobs with wages of $16.00 or more and businesses who provide benefits to their employees are also preferred.
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To qualify, entrepreneurs must be located within 20 miles of the City of Santa Fe City limits, have a reasonable credit history, provide acceptable collateral; demonstrate an ability to repay the loan and for every $25,000 in loans, entrepreneurs or businesses must create or retain one job.
Contact InformationThe Loan Fund
Address: 423 Iron Ave SW
City: Albuquerque
State: New Mexico
Website:
http://www.loanfund.org
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