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

New Digs for Farmington Dog Groomer

Greta Wilson and Harmony Brown launched Suds & Snouts LLC in Farmington in 2026 to create a great pet grooming experience for both dogs and their owners. The company operated out of Greta’s home until July, when the pair moved into their own building with help from The Loan Fund.

Greta said that when it was time to take the leap and form their own business, expand their inventory and equipment, and move into a storefront, she found The Loan Fund during an online search.

The Loan Fund is a nonprofit Community Development Financial Institution (CDFI) that provides flexible financing to small businesses and nonprofit organizations across New Mexico. It specializes in supporting those often overlooked or turned down by traditional banks and lenders.

“We did try our bank in town, but they wouldn’t do a startup loan,” said Greta. Harmony added, “But (The Loan Fund) officer was extremely helpful and very communicative. They made the process extremely easy for us.”

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