NMSBIC Plans to Expand Lending Program in 2013

Russell Cummins

Russell Cummins, Executive Director and Investment Adviser, NMSBIC

While many financial experts predict slow economic growth in 2013, the New Mexico Small Business Investment Corporation (NMSBIC) is taking action to improve the economy in New Mexico by providing capital to small businesses around the state.

Created in 2001 under the New Mexico Small Business Investment Act to stimulate job creation, the NMSBIC plans to assist more small businesses in more parts of the state, said Joseph Badal, board chairman and president of the organization.

“We want to increase the velocity of money we have to deploy,” he said. “The faster money gets into the hands of small-business owners, the faster the economic development impact on those businesses and on the state’s economy. Continue reading