Resource Tool for Start-up and Small Businesses in New Mexico

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Tag Archives: 7A Community Advantage loan

7A Community Advantage Still Available

Posted on by Admin

The U.S. Small Business Administration created the 7A Community Advantage loan program as a pilot program to help small businesses in underserved markets. The program was scheduled to expire on September 30, 2022.

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Posted in New Programs, Open Opportunities and Announcements | Tagged 7A Community Advantage loan, DreamSpring, LiftFund, New Mexico business, RCAC, small business loans

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Featured Article

Small Businesses Gain with Year-End Giving

Philanthropic giving is approaching $600 billion annually in the United States, and New Mexicans do their part every year to underwrite the causes that matter most to them. Often overlooked among worthy food bank and animal welfare nonprofits are organizations that promote grass-roots economic development. Nonprofit lenders that offer business assistance — LiftFund, DreamSpring, and others — rely on private giving to support and enable individual entrepreneurship in our state.

Microlenders such as these manage separate pools of private and public money, which they make available as loans and lines of credit to small businesses — especially startup businesses and those in chronically underserved communities and populations. They also support their clients’ success through other services, such as business counseling, training, and mentoring.

Thoughtful contributions — sometimes known as social investments — to any one of these organizations have a way of living indefinitely into the future.

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