
By Joe Justice, Loan Officer, The Loan Fund
Steven Horwath spent his career as a fitness trainer working at Albuquerque-area gyms with highly motivated, competitive athletes. Two years ago, he leased a 3,000 square foot building on San Francisco Road and opened his own gym to cater to this elite crowd. Turning Point Strength and Conditioning provides structured, individualized workouts and state-of-the-art equipment designed to build strength, speed and agility.
Despite his years of expertise and a 40-page business plan, Horwath found a traditional bank unable to lend him $60,000 for his startup. However, the bank’s loan officer referred the aspiring business owner to The Loan Fund, a nonprofit community development financial institution (CDFI) that helps business owners and nonprofit organizations throughout New Mexico by providing loans, training and business consulting.