Small businesses that have been in operation for at least six months may be eligible for a collateral-free loan. The Credit Builder loan is an entry-level loan designed to help New Mexico businesses build or strengthen credit while accessing working capital. The Rural Express loan is similar and is for businesses located in rural areas of New Mexico. Neither Credit Builder nor Rural Express requires collateral, and both are offered by the nonprofit Community Development Financial Institution (CDFI) known as B:Side Fund.

Credit Builder Loans for Small Businesses offer up to $10,000 in working capital. Loans terms are up to three years with a fixed rate of interest.

Rural Express Small Business Loans offer between $20,000 and $25,000 in working capital for three years at a fixed interest rate to businesses in rural areas.

B:Side Fund is a nonprofit Community Development Financial Institution that aims to create an even playing field for entrepreneurs from all walks of life, especially those with limited resources and opportunities. Through a combination of grants, program-related investments, and loans from its funding partners, B:Side Fund offers unique small-business financing options designed to support early-stage businesses located in New Mexico. B:Side helps entrepreneurs access responsible capital to start and grow their operations, and its capital opportunities specifically target underserved communities. B:Side Fund businesses are 49% female-owned, 43% rural-owned, 23% minority-owned, and 6% veteran-owned. Startup and early-stage businesses make up 41% of B:Side’s loans.

B:Side Capital is the sister organization of B:Side Fund. Together, they represent two sides of the same mission-based lending organization focused on fostering the economic growth of diverse small businesses. B:Side Capital works with the U.S. Small Business Administration (SBA) as a Certified Development Company to offer SBA 504 loans for owner-occupied commercial real estate purchases, renovations, and construction.

Learn more about B:Side Capital and B:Side Fund on this website, which includes links to both home pages.