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Tag Archives: Black Business Summit

Meet With Small-Business Lenders at the Black Business Summit

Posted on by Admin

The nonprofit lender and resource provider WESST is just one of the small-business loan providers that will offer information at the 2025 Black Business Summit on February 28 in Rio Rancho. The event is free, but registration is required due to limited space.

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Posted in New Opportunities | Tagged Black Business Summit, business assistance, New Mexico business, small business loans, WESST

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Featured Article

SBA Loans Offer Low Interest Rates

Popular pies from L’il Willie’s Shenanigans, the Red River ice cream and sweets shop owned by Kelley and Steve Cherry.

Kelley and Steve Cherry were so pleased with the experience of securing a loan to buy one commercial building in Red River that they want to buy another building the same way.

The couple worked with Century Bank to obtain a U.S. Small Business Administration 504 loan to purchase the building they previously leased for their 3-year-old ice cream and sweets shop, L’il Willie’s Shenanigans. They hope to use the same strategy to buy the building from which they’ve operated Shotgun Willie’s Café for the past decade.

The appeal of 504 loans is that interest rates are fixed at a significantly lower rate than traditional banks offer for commercial real estate loans, and borrowers get lots of help from lenders and the certified development companies that evaluate 504 loan packages for the SBA. The nonprofit Enchantment Land Certified Development Company played that role for the Cherrys.

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