![\"Paul](\"http:\/\/www.financenewmexico.org\/userfiles\/Paul%20Goblet.jpg\")
Paul F. Goblet, Investment Advisor, NMSBIC<\/p><\/div>\n
During the past six months, the New Mexico Small Business Investment Corporation (NMSBIC) and its partners have created a series of business-related articles and a web site to provide information and resources to New Mexico business owners and entrepreneurs.\u00a0If you are reading this article in a newspaper, you can thank the editors of the publication in which it appears for supporting economic development in your community.\u00a0The Finance New Mexico initiative has been a collaborative effort that has relied on the simultaneous actions of entities in both the public and private sectors across the entire state.<\/p>\n
Why?\u00a0It was and still is our collective belief that if we provide timely, well-written articles containing useful information about the resources available to all small businesses, it will help strengthen local businesses and communities.\u00a0Those resources include services, advice, technical assistance and training \u2013 all of which prepare current and future business owners.<\/p>\n
The network of Small Business Development Centers (NMSBDC) is one such resource.\u00a0Located in 20 communities around the state, these centers provide classes, consulting and business advice \u2013 much of it for free \u2013 to hundreds of businesses.\u00a0WESST Corp. provides technical assistance and training workshops on topics such as creating a business plan \u2013 something that can be of critical value to comprehensive understanding of the challenges and opportunities confronting your business.\u00a0These resource-services can help you prepare to access capital more successfully, and this is something in which the NMSBIC is particularly interested.
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The Governor, Lt. Governor, and State Legislators have repeatedly looked for ways to help New Mexico\u2019s small businesses.\u00a0In 2001, they voted to create the NMSBIC, providing funds which have grown from $10 million to $47 million.\u00a0This capital is exclusively for New Mexico businesses in the form of loans or equity investments.\u00a0There is a very strong desire to see this capital reach rural businesses where other financial resources may not be plentiful.\u00a0The Finance New Mexico articles have been produced to help business owners become more knowledgeable and therefore more likely to succeed in accessing capital.<\/p>\n
The past few months of financial turmoil, particularly in the home mortgage sector, have led to massive loan losses by major financial institutions.\u00a0As individuals find it more challenging to obtain mortgages and credit card loans \u2013 as noted in headlines that have appeared elsewhere in this paper \u2013 we believe business credit will also be far more difficult to secure.\u00a0Whether you are trying to borrow money to start a business or to expand your business, your pursuit is likely to be tougher in the coming months.\u00a0As a New Mexico business owner, what can you do?<\/p>\n
Take advantage of the information available at FinanceNewMexico.org.\u00a0Capitalize on the resources provided by organizations like NMSBDC and WESST Corp.\u00a0Read the articles published by your newspaper.\u00a0Future Finance New Mexico articles, written by experts in our partner organizations, will address surviving the credit crunch by running your business according to proven financial principles.<\/p>\n
ACCI\u00d3N New Mexico<\/span><\/strong><\/a>, The Loan Fund<\/span><\/strong><\/a>, and WESST Corp<\/span><\/strong><\/a>. manage over $11,000,000 in loan funds on behalf of the NMSBIC.\u00a0They have made over 1,500 loans in virtually every community in the state.\u00a0Each will share advice to help you confront the challenges facing New Mexico businesses.<\/p>\n Strong local businesses beget healthy communities, create more and better jobs, and help provide opportunities and benefits for a large number of New Mexicans.<\/p>\n <\/a>Download 26_Finance New Mexico Provides Business Solutions PDF<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A recap of resources associated with the Small Business Investment Corporation is discussed, as well as an overview of what these partner organizations provide. Continue reading