Rural Community Assistance Corporation, the nonprofit organization known as RCAC, offers small business loans to help businesses retain or create jobs and thus improve the economic condition of rural communities. Its Building Rural Economies Small Business Coaching team goes a step further by providing no-cost direct technical assistance to rural entrepreneurs and small businesses to launch or re-launch their business; operate, sustain, and grow their business; secure access to financing; and build networks.
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Take a Deep Dive into Export Regulations
Selling internationally is a great opportunity to increase revenue and scale a business. But don’t let your export journey be over before it begins by failing to comply with export controls. Join New Mexico MEP, the New Mexico Economic Development Department, the New Mexico Trade Alliance and others on May 14, 2024 to learn about Export Administration Regulations (EAR) and International Traffic in Arms Regulations (ITAR).
Continue readingWESST Named NM Microlender of the Year
The small business development organization WESST was named the 2024 Small Business Administration’s New Mexico Microlender of the Year. The award was bestowed on May 1, 2024 at the SBA New Mexico Small Business Awards Breakfast. The SBA celebrates National Small Business Week by honoring outstanding entrepreneurs and resource providers while putting a spotlight on the people who run the 33 million small businesses in the country.
Continue readingSmall Business Week 2024
In celebration of National Small Business Week, April 28-May 4, 2024, the Internal Revenue Service is featuring useful tax-related tools and resources to help small business owners, employers and self-employed individuals succeed.
Continue readingNew Source for Business Start-Up Information
The New Mexico Economic Development Department has launched a new tool to connect New Mexicans to business, entrepreneurial, and community resources from across the state. The Business Resource Map is now live on the New Mexico EDD website.
Continue readingDreamSpring Expands Bi-Lingual Services
DreamSpring, known for providing small business loans and assistance to entrepreneurs in 27 states, is expanding its English-Spanish online technical assistance and training materials, as well as one-on-one technical assistance, thanks to more than $500,000 received from a Congressionally Directed Spending appropriation, part of the bipartisan Fiscal Year 2024 (FY24) Financial Services and General Government Bill. U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Appropriations Committee, helped secure the funds that are part of $28 million for 52 projects in New Mexico during the Senate’s passage of six bipartisan appropriations bills on March 23, 2024.
Continue readingWESST Helps Clients Help Others
Brenda Ramos Almeida helped her husband start J&B Gardens while working full time as an office manager for another contractor. In 2019, she turned to WESST, a nonprofit business development organization, for one-on-one counseling and workshops to help her manage the Northern New Mexico landscaping business as she maintained the company’s books. It wasn’t long before she spotted a need and decided to start a service to assist others with bookkeeping and acquiring permits and applications for their own small businesses.
Libelula Financial focuses on the Spanish-speaking small business community. Being bilingual, Ramos Almeida knew she could provide customers with the highest quality of service in both Spanish and English, offering bookkeeping and general business assistance.
Continue readingNM LEEP Accepting Applications
The New Mexico Lab-Embedded Entrepreneur Program (NM LEEP) is accepting applications from technology entrepreneurs ready to obtain two years of individualized assistance to commercialize their technology. The program pairs deep-tech entrepreneurs with the unique talent and technology of Los Alamos and Sandia national laboratories, matching LEEP fellows with seed capital and a large network of mentors, customers, and investors. Applications will be accepted from February 22 to April 22, 2024.
Continue readingBusiness Finance Fairs Offer Insight
Entrepreneurs and business owners looking for money to start or grow a business can gain insight into how lenders make small business loan decisions by attending a business finance fair. Events are often hosted online, while others, such as the February 29, 2024, Business Finance Fair in Santa Fe, are in-person events that also serve to connect business owners with local lenders.
Continue readingEntrepreneur Responds to Market Needs
When Las Cruces resident Silvia Terrazas looked for videos to rent in Spanish, she found none so she created a store to fill that need. In 2000, she obtained financing to open Video Exitos, where she placed a freezer filled with ice cream and the Mexican-style popsicles known as paletas.
Terrazas noticed the ice cream treats were popular and she decided to learn how to make her own Michoacan-style ice cream and paletas, venturing to the Mexican state of Michoacan to attend an ice cream-making course. She learned how to incorporate the state’s fresh fruit into popsicles and ice cream.
In 2005, Terrazas was ready to expand her business. She went to the nonprofit lender, The Loan Fund, for a loan to construct a building for her new ice cream and treat shop, Paleteria La Reyna Michoacana where she could also sell pinatas, candy, and other Mexican specialty items.
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