The Loan Fund, an award-winning nonprofit organization that provides loans and consulting to small businesses, entrepreneurs, and nonprofit organizations across New Mexico, said today it provided funding for 121 new loans in 2020. Minorities and women-owned businesses made up the overwhelming majority of the year’s loans, which created 189 new jobs and preserved 589 existing jobs in the state.

The Loan Fund was founded in 1989 to help alleviate poverty by creating and preserving job opportunities throughout New Mexico, particularly in low-income and underserved communities. Most Loan Fund clients are unable to obtain financing through banks or credit unions. Since its inception, The Loan Fund has made over $75 million in loans that have helped create or preserve more than 9,000 jobs.

Read an overview of The Loan Fund services, and visit The Loan Fund website.