Author Archives: Taura Costidis

New Mexico Communities Building On-Ramps to Information Superhighway

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New Mexico broadband; photo illustration by Taura Costidis/FNMBy Finance New Mexico

Just as public utilities and the interstate highway system made New Mexico more accessible and habitable over the past century, the internet — today’s information superhighway — is what links the state’s entrepreneurs with potential customers and partners around the world.

In a state with far-flung rural villages and growing urban hubs, such infrastructure enhancements as fast and reliable internet service determine whether residents are isolated or engaged and whether enough taxable revenue can be generated through economic development to improve public safety and community amenities. Continue reading →

Keeping Commitments Key To Building Government Contract Résumé

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Build government contracting resume

By Sandy Nelson for Finance New Mexico
Reviewed by Adolfo Vasquez, deputy director, SBA New Mexico district

Winning a government contract requires diligence and deliberate focus. Fulfilling it and building a résumé on outstanding performance are even more demanding.

Failure to perform as promised — depriving a government agency of the expected product or service — will sour future opportunities for underperforming or defaulting businesses. And it might result in serious financial and legal problems for the business that breaches a contract. Continue reading →

WESST Wraps Banner Year; New Programs Expected in 2018

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By Damon Scott for Finance New Mexico

Dineland

Dineland Protection Services Inc., photo courtesy Chris Hunter, WESST

WESST, the statewide nonprofit best known for consulting and training programs that support entrepreneurs and small businesses, hit a milestone in 2017: It made its largest loan ever. WESST loaned $150,000 to Dinéland Protection Services Inc. of Fruitland to help the company launch the security services it provides to the Navajo coal mine on the Navajo Nation.

While the bulk of WESST’s services focus on one-on-one consulting and deep-dive business workshops, WESST also wants to make sure its clients have the funds needed to grow their businesses. Kim Blueher, vice president of lending at WESST, said the loan program is about 10 percent of the overall services they offer, but it makes a significant impact. Continue reading →

Farmington Manufacturer Seeks Quality-Management Goal With Help From MEP

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PESCO truck

Courtesy photo

By Sandy Nelson and Taura Costidis for Finance New Mexico

Brothers Kyle and Jim Rhodes have big ambitions for the family business they’ve owned since 1970. It’s not enough that their Farmington company Process Equipment & Service Company Inc. (PESCO) has a solid reputation as a manufacturer of natural gas and oil production equipment and that the company continues to grow even as gas prices rise and fall, employing more than 300 people and serving national and international customers. Continue reading →

Cedar Crest Woman Brews Up Business With Help From Nonprofit Lender

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Hannah Johnson in front of Cabra Coffee

Hannah Johnson

By Finance New Mexico

Hannah Johnson left Cedar Crest, New Mexico, to get a biology degree, and after a stint in shorebird conservation, she returned to start a coffee shop in her hometown in the eastern Sandia Mountain foothills.

The owner of Cabra Coffee, which opened in spring 2017, started making quality coffee at college. “My first job working in the industry was when I was going to school at the University of Puget Sound in Tacoma. It was just the coffee shop in the school, but we were getting coffee from a cafe in Seattle, and they would come down and train us. That’s where I first learned how to make coffee professionally.” Continue reading →

Nonprofit Lenders Lower Startup Funding Risk

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Business LoanBy Finance New Mexico

Entrepreneurs traditionally dipped into personal savings or tapped their friends-and-family network to fund a startup, and they used credit cards and home equity lines of credit to buy equipment or make payroll. If the venture stumbled and revenue evaporated, the owner faced years of compounding debt.

Those risks haven’t disappeared, but today’s business owners have more funding options, including a network of New Mexico nonprofit lenders. Continue reading →

Local Businesses Need Support Every Day of the Year

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Shop LocalBy Finance New Mexico

Small Business Saturday came and went with the Thanksgiving holiday weekend, but persuading budget-conscious consumers to shop locally is not just a one-day effort. If they hope to compete with national chains and internet-based rivals, small businesses need a year-round strategy that highlights how their products or services are superior to what a national or multinational corporation can deliver. Continue reading →

Businesses Unsettled by DACA Uncertainty

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DACA stamp

Photo credit: beebright / 123RF Stock Photo

By Finance New Mexico

Barring congressional intervention, the Deferred Action for Childhood Arrivals (DACA) program is ending, and DACA recipients — or “Dreamers” — are subject to deportation when their work permits expire if they didn’t get an extension before the Oct. 5 deadline.

The demise of the program has created uncertainty among employers who are required to fire DACA recipients the day after their permits expire but risk discrimination charges if they act too soon to terminate — or even identify — DACA recipients on their payrolls. Continue reading →

Steeled for Success: Las Cruces Company Grows With Help From Partnership Loan

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By Taura Costidis and Sandy Nelson for Finance New Mexico

Mesilla Valley Metals owners Casey and Chancie RobertsCasey Roberts earned an MBA at the same time he was learning the family trade: welding. Today, the Las Cruces man and his wife, Chancie, own Mesilla Valley Metals, a manufacturer of pipes, structural steel, farm implements and custom-ordered metal products.

“My family has always been in the welding business,” Roberts said. “My dad was a rig welder in Farmington, where my uncle on my mom’s side owns a big fabrication shop. I always enjoyed making something and seeing results at the end of the day.” Continue reading →

Building a Business Reputation Starts With Basics

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Customer serviceBy Sandy Nelson for Finance New Mexico

A common complaint of people who hire specialists or tradespeople to provide a service is that the person didn’t show up as promised or didn’t even return a phone call. Sometimes all it takes to build a client base is to treat prospective customers with the basic decency you would use in personal relationships that matter to you. Continue reading →