Category Archives: Articles

Pilot Program Allows Accion Greater Flexibility in Business Lending

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By Sandy Nelson and Taura Costidis for Finance New Mexico

Reduced risk for lenders

Nonprofit lender Accion is partnering with the U.S. Small Business Administration to offer a type of business loan — the Community Advantage loan — that allows more entrepreneurs to have their loan requests approved.

Accion is the only Community Development Financial Institution in the state to participate in this pilot SBA program that began in 2012. And Accion offers the loan in all five states where it does business: New Mexico, Arizona, Colorado, Nevada and Texas. Continue reading →

Equity Investors Have Much to Offer New Mexico Entrepreneurs

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Raising business capital
By Finance New Mexico

While New Mexico hasn’t attracted the type of venture capital that flocks to entrepreneurial hot spots like San Francisco and other West Coast cities, equity investors are pumping money into promising startups all over the state. Those investors might be venture capitalists, but they’re more likely to be angel investors, family members and friends, and crowdfunders.

According to the National Venture Capital Association, 162 New Mexico startups received capital funding from venture capitalists between 2020 and 2024 — small potatoes when compared with VC investment in more than 22,900 companies in California during the same period.

Continue reading →

WESST Workshop Helps Businesses Orient to Customers With Disabilities

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By Sandy Nelson and Taura Costidis for Finance New Mexico

Disabilities Welcome montageBusiness owners who don’t consider the impact of dollars spent by people with disabilities are missing a market opportunity. Complying with the Americans With Disabilities Act (ADA) can raise a business’s costs, but the rewards of making a business accessible to members of America’s largest minority community more than compensate for the investment.

More than 58 million Americans live with some type of disability, and that number is expected to grow as the last of the post-World War II baby boomers reaches 65, according to Julie Ballinger, a disability rights consultant affiliated with the Southwest ADA Center — one of 10 ADA centers nationwide. Continue reading →

Successful Elevator Pitches Are Part Prep, Part Improv

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By Sandy Nelson, Finance New Mexico

Whether it’s made on an elevator or on the ground floor, the 30- to 60-second business pitch that’s named for the place it’s often made should sound unrehearsed and authentic even if it’s the product of exhaustive thought and preparation — which it should be.

The “elevator pitch” is a concise summary of a product, service or idea that is so intriguing or compelling that the listener wants to hear more. It’s the hook that catches the attention of the potential investor, client or collaborator. Continue reading →

Continuous Improvement Helps Belen Manufacturer Go Global

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By Claudia Infante, Projects Coordinator, New Mexico MEP

Sisneros Brothers Manufacturing embodies the entrepreneurial notion that finding the right niche can transform talent into business success.

Avenicio Sisneros, founder of the Belen company, began as a cabinetmaker in the 1950s but shifted to making and installing sheet metal ducting for houses in 1987. With him were sons Martin, Alex and Philip.

Demand quickly grew beyond the residential market, and the company began manufacturing and installing ductwork for larger commercial customers. By 1990, Sisneros Brothers abandoned installation altogether to focus on manufacturing custom sheet metal ductwork for a wide variety of customers. Continue reading →

Mind Your NTTCs: Avoid Penalties by Verifying Document Accuracy

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By Paul Braverman for Finance New Mexico

In 2009, Gregg Hull was running a shipping company in Rio Rancho, New Mexico, when he got news that would strike fear into the most lion-hearted soul: The New Mexico Taxation and Revenue Department would be auditing his finances for the past three years.

In a recent interview, Hull related the surprise he felt when the auditors focused on transactions involving Non-Taxable Transaction Certificates (NTTC). Surprise turned to despair when the audit expanded to six years, and to shock when Hull was told that he owed the state $120,000 in taxes that he had failed to collect. The amount threatened to shutter his business. Continue reading →

Supplier Financing Leverages Trusted Relationships

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Desert Blends of Taos; photo courtesy of the company

By Finance New Mexico

Vendors who supply products to retailers don’t always have the capital needed to fill a large order. If the vendor can’t get the money — or can’t spend all its capital delivering a big order it has to wait 90 days to be paid for — it misses a chance to increase its profits and expand demand.

This is a common situation for many startups and small businesses that can’t borrow from traditional banks or even nonprofit community development loan institutions because the business principals have no track record, uneven credit histories, scant collateral or unclear citizenship status. Continue reading →

SWOT Analysis Helps Businesses Plan for Growth

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SWOT analysis business strategy management process concept diagram illustration

By Finance New Mexico

A business of any size can analyze its internal strengthens and weaknesses and external opportunities and threats — a process known by its acronym, SWOT — to gain insight into the forces it does and doesn’t control and to set realistic goals.

Strengths and weaknesses are within a company’s control: Strengths give it a competitive edge; weaknesses give rivals an opportunity to gain the upper hand. Opportunities and threats originate outside the company, and a company only can control how to anticipate and react to them: Opportunities are conditions a business can leverage to its benefit, and threats are dangers that are best avoided. Continue reading →

Pinball Parts Maker Gets Boost From Manufacturing Makeover

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By Claudia Infante, Projects Coordinator, New Mexico Manufacturing Extension Partnership

X-Men Pinball Wolverine Bracket made by the company on a 3-D printer; courtesy of Mezel Mods

It started three years ago with a 3-D printer and a lifelong passion for pinball. Former Intel engineer Tim Mezel now runs a small company that makes “mods,” 3-D printed plastic after-market parts installed in pinball machines to make the games more challenging or personalized.

There’s a niche market for these products, and Mezel Mods caters to it.

In 2015, Tim Mezel and his wife, Kristin, moved production from their home to a 1,500-square-foot manufacturing facility in Rio Rancho, where they and two employees design and fabricate novel add-ons and replacement parts for tricked-out pinball machines. Continue reading →