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NM
Smart Money Business Loan Participation Program – Restaurants
NMFA purchases up to 49% of loans originated by local banks at low, fixed interest rates to expand capital access for restaurant and food service businesses in rural and underserved New Mexico communities.
About this program
Visit the program website for full details.
Eligibility
Businesses located in rural and underserved areas of New Mexico. Must create at least one job per $50,000 of Smart Money funding. Project must serve an economic development purpose.
Requirements
- Business must be located in a rural or underserved area of New Mexico
- Must create at least one job per $50,000 of Smart Money funding invested
- Loan must demonstrate ability to repay from operating cash flows