
By Matt Loehman, The Loan Fund
Starting a business takes guts, but it also takes money. Obtaining that startup capital is one of the biggest challenges facing aspiring entrepreneurs.
Some may find it easy to secure credit: They’re typically the ones with good collateral, a high credit score and a fully developed business plan. But that’s not the case for many small business owners in New Mexico who find it challenging to access credit through traditional sources.
Small business owners who do have difficulty accessing credit from traditional lending sources can contact a community development lender, which is typically more than just a place to go when the banks say “no”. Continue reading