Application Now Open
Newly Expanded
Small Business Recovery Loan Fund |
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Small Business Recovery Loan Fund
Application Now Open |
In the 2021 Session, the New Mexico Legislature substantially expanded and extended the Small Business Recovery Loan Fund to better help businesses experiencing financial hardship caused by the pandemic.
- More businesses are now eligible to apply for a loan
- The loans have more favorable and flexible terms
- Businesses that received a Small Business Recovery Loan in 2020 can refinance for a longer term or a bigger loan
This $500 million loan fund offers loans up to $150,000 at a current interest rate of 1.625%, terms up to ten years, no payments due the first year, interest-only payments due in the second and third year, and no penalty for paying off a loan in advance.
Visit the NMFA website for more information. |
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