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NM
NM Collateral Assistance Program (CAP) 2.0
EDD pledges cash to cover collateral shortfalls on loans for professional services small businesses that would otherwise not qualify for conventional financing.
About this program
Visit the program website for full details.
Eligibility
New Mexico for-profit small businesses applying through a CAP-approved lender with a collateral shortfall. Cannot be used with SBA-guaranteed loans. Preference for women-, veteran-, and minority-owned businesses.
Requirements
- Must apply through a CAP-approved lender
- Business must have a collateral shortfall on an otherwise qualifying loan
- Cannot use CAP in conjunction with an SBA-guaranteed loan