Owners looking for a loan for their small business should be familiar with the 5 Cs of Credit. Character, capital, collateral, capacity, and conditions determine if a traditional lender will offer a loan to a business owner. New and aspiring business owners can learn about the 5 Cs of Credit on Thursday, October 2, 2025, in a workshop hosted by the nonprofit lender WESST.

The workshop, called Introduction of the WESST Loan Program, outlines the differences between how traditional lenders and nonprofit lenders evaluate loan requests. Participants can ask questions and discuss the potential next steps toward obtaining financing. The workshop, which is offered free online and in person at the WESST Enterprise Center in Albuquerque, is led by Sandro Tonino, vice president of lending at WESST.

One of the obstacles most commonly reported by entrepreneurs — particularly first-time business owners — is the difficulty obtaining capital to start or grow a business. WESST helps bridge this gap by providing no-to-low interest rate small business loans in addition to training and consulting services. As a microlender, WESST specializes in financing viable businesses that, for whatever reason, do not meet the criteria of banks or other traditional lenders that use the 5 Cs of Credit to determine loan eligibility.

WESST loans offer several advantages:

• WESST’s loan program focuses on building relationships with loan recipients through critical business consulting, training, and other support services to maximize their chances of success.
• WESST’s interest rates and fees are extremely competitive and often the lowest available in the state.
• WESST’s loan program specializes in helping business owners who have been unable to receive a loan elsewhere.

WESST is a statewide 501(c)(3) small business assistance organization committed to supporting individuals in New Mexico who want to start a business or improve the performance of an existing one.  Founded by three women in 1989, WESST proudly serves all New Mexicans who want to start and grow a small business.

Loans range from $500 to $50,000 with maximum terms of 5 years and offer business support through the duration of the loan.

In 2024 alone, WESST loaned $6 million to clients, helped 94 businesses launch, extended advice in 4,276 one-on-one consultations, and hosted workshops that 4,213 participants attended.

Register for the Oct. 2 workshop, and read more about the 5 Cs of Credit. Learn more about WESST and a few of the businesses it has helped.