A nonprofit organization that increases access to business credit, makes loans and provides training which enables New Mexico-based entrepreneurs to realize their dreams. Since 1994, DreamSpring has provided more than 14,000 loans totaling over $142 million to entrepreneurs in 600 New Mexico, Arizona, Colorado, Nevada, and Texas communities.
The small businesses funded by the organization have created or sustained an estimated 20,000 jobs. In 2018, 90 percent of loans issued by the organization went to low-to-moderate income, minority and/or women entrepreneurs.
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Type of Businesses Served
- Wide variety of businesses, from restaurants and artisans to manufacturers and mechanics
- Loans for nonprofits
Stage of Businesses Served
- Start-ups
- Established businesses (Defined as operational for at least 6 months)
Funding Style
Funding Range
- Loans from $1,000 to $2,000,000
Online Loan Application
Start an online application here
Applicant Requirements
- Strong commitment to managing the credit provided
- Strong commitment to the business and its development
- For loans $35,000+, business plan, three years of personal or business tax returns
- With strong FICO scores, loans up to $40,000 can be unsecured
Resources Provided
- Financial literacy training
- Credit review for applications
- Technical assistance referrals
- Mentorship opportunities for clients
Contact
www.dreamspring.org or 1-888-265-5676