Do you make beef jerky at home? Or maybe homemade sausage in your garage? Aspiring meat processing entrepreneurs can get business assistance and loan advice from the Biz Sprint program Arrowhead Center.
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Get Up to Speed on GRT and Business Taxes
Unlike many states that require businesses to collect a tax on products sold (referred to as a sales tax), New Mexico imposes the state’s Gross Receipts Tax (GRT) that must be collected on the sale of products AND services. Sell advice or IT services, even if you don’t sell a tangible product? New Mexico’s GRT must be added to the amount your client will pay.
Continue readingBusiness Grants Exist and Money is Available
New business owners often ask if they can get a grant to fund their startup. Money is never free, but a few available business grants only require the time it takes to fill out an application.
Continue readingLoan Request Mistakes to Avoid
The nonprofit small business lender LiftFund has helped thousands of small business owners navigate the funding landscape, and they’ve noticed some common pitfalls along the way. These are the three biggest mistakes LiftFund lenders have seen new business owners make – and how you can avoid them.
Continue readingConferences Offer Business Resources, Loans, and Networking
Several June and July conferences aim to offer networking opportunities and equip participants with knowledge about business resources and available capital, including loans and grants. The nonprofit lender and business development organization WESST is offering a half-day Women’s Entrepreneurship Conference in collaboration with Arrowhead Center at NMSU on July 18. The Atomic 66 Convergence of Space, Art, Tech, and Culture takes place June 10 to 13, and the Women Veterans Conference is June 14, 2025.
Continue readingSBA Loans Offer Low Interest Rates
Kelley and Steve Cherry were so pleased with the experience of securing a loan to buy one commercial building in Red River that they want to buy another building the same way.
The couple worked with Century Bank to obtain a U.S. Small Business Administration 504 loan to purchase the building they previously leased for their 3-year-old ice cream and sweets shop, L’il Willie’s Shenanigans. They hope to use the same strategy to buy the building from which they’ve operated Shotgun Willie’s Café for the past decade.
The appeal of 504 loans is that interest rates are fixed at a significantly lower rate than traditional banks offer for commercial real estate loans, and borrowers get lots of help from lenders and the certified development companies that evaluate 504 loan packages for the SBA. The nonprofit Enchantment Land Certified Development Company played that role for the Cherrys.
Continue readingPrepare for a Small Business Loan
Clearinghouse CDFI is hosting a webinar at 12:00 pm on Wednesday, May 28, 2025, to help businesses, developers, and nonprofit organizations prepare to apply for a small-business loan.
Continue readingProgram Pairs Businesses with Unique Expertise
The New Mexico Small Business Assistance Program was enabled by state legislation to bring the “technology and expertise of the national laboratories to small businesses in New Mexico to promote economic development in the state…” In exchange for a tax credit, New Mexico’s national laboratories and their partners work one-on-one with small businesses and entrepreneurs to solve problems that are often seen as roadblocks to business growth. NMSBA Program assistance ranges from product analysis and testing to inventory and manufacturing management, with myriad others in between. Businesses can learn about the program at an event in Santa Fe from 2:00 to 4:00 pm on May 20, 2025.
Continue readingEmployers Must Comply with Healthy Workplaces Act
Employers in New Mexico must comply with the state’s Healthy Workplaces Act. To help employers understand their responsibilities, the New Mexico Department of Workforce Solutions will host a webinar at 2:00 pm on Tuesday, May 13, 2025.
Continue readingWESST Named NM Microlender of 2025
The nonprofit business development organization WESST has been named the New Mexico Microlender of the Year 2025 by the U.S. Small Business Administration. Known best for its workshops and business consulting, WESST has a loan fund that offers microloans to qualifying businesses that work with its consultants.
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