Enchantment Land Certified Development Company (ELCDC)

A nonprofit with an economic development mission, ELCDC provides business financing through the 504 SBA Loan Program. ELCDC partners with local banks to provide up to 90% financing at below-market, fixed rates of interest. With low down payments and fixed-rate financing, business owners can retain the working capital needed to grow. The organization’s Premier Certified Lender Program (PCLP) designation enables it to work directly with its borrowers and banks to make certain loan decisions without prior SBA approval.

Enchantment Land Certified Development Company

Type of Businesses Served

  • Wide variety of businesses, from restaurants and artisans to manufacturers and mechanics.

Stage of Businesses Served

Funding Style

  • SBA 504 Commercial Real Estate Loans
  • SBA 504 Equipment Loans

Funding Range

  • Up to $5 million in SBA money
  • No limit on Third Party Lender portion of loan

Read more about ELCDC:


http://www.elcdc.com/ or 505-843-9232

Sadie's Restaurant, Albuquerque, NM

Sadie’s Restaurant, Albuquerque, NM

Eligible Costs

  • Land
  • Land & Building
  • Construction Costs
  • Renovation & Remodeling Costs
  • Professional Fees
  • Soft Costs

Applicant Requirements

  • Financial statements must demonstrate adequate personal and business cash
  • There must be sufficient remaining cash — net of equity injection — so that business and household are not negatively affected
  • If a business is a startup — defined as being in business for two years or less — projections with assumptions are required
  • First mortgage lender and ELCDC must review for additional payroll, occupancy and other costs related to expansion
  • Expansion into a different product, service or geographic market must be very well supported by market research

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