Tag Archives: New Mexico business

SEC rules allow everyone to invest in small businesses

Posted on by
By Karl Dakin, Owner, Dakin Capital Guild LLC

Owners of startups and early-stage businesses can now look beyond traditional financing and equity sources when searching for growth capital. Federal and state laws make it possible for everyone — not just the top three percent of income earners known as accredited investors — to invest in small businesses.

Crowdfunding is the activity of raising money from everyone. Organizations have used it since the late 1990s to obtain a large number of small donations for art and philanthropic projects. Rules adopted by the U.S. Securities and Exchange Commission (SEC) in 2015 allow the general public to participate in securities-based crowdfunding. Instead of receiving a tee shirt or other gift of appreciation for a donation, crowdfunding investors get equity in the company they help fund.

Continue reading →

Define Need Before Applying for Business Loan

Posted on by

Cabra Coffee in Cedar Crest, New Mexico

Cabra Coffee in Cedar Crest financed growth through The Loan Fund

Most New Mexico entrepreneurs can’t start or operate a small business without occasionally borrowing money. And that requires preparation and a methodical approach.

It begins by identifying why the money is needed and the most appropriate loan to fulfill that need. It continues with finding a lender that offers optimal terms and fees for clients with the borrower’s credit score and financial resources and gathering documents the lender needs to review.

Define the need: Businesses may need loans for daily operating expenses or to build reserves, renovate a commercial building or buy equipment. The specific need typically drives the decision about what type of loan to shop for. Continue reading →

New Mexico Set to Celebrate Manufacturing Sector

Posted on by

Technology Leadership High School students during the Sandia Science and Technology Park Manufacturing Day 2015 tour

More than a third of young people studying for vocational and technical careers have no contact with potential future employers before they graduate, and only 12 percent have seen the inside of a manufacturing facility.

That conclusion, from a 2016 study by the Manufacturing Institute, lends urgency to Manufacturing Day, an annual event designed to educate the public about modern U.S. manufacturing and to attract young people to this fundamental industry.

Manufacturing Day, or Mfg Day as it’s typically known, actually lasts more than a month in New Mexico. Sponsored by the nonprofit New Mexico Manufacturing Extension Partnership (NM MEP), Manufacturing Day introduces students and job seekers to manufacturing careers by inviting them to tour factories and facilities where people make things. Continue reading →

Economic development bonds let governments help businesses

Posted on by

Toby Rittner wants to help communities leverage their limited financial resources to solve the needs of business, industry, developers and investors.

Rittner is CEO of the Council of Development Finance Agencies, a nonprofit organization that provides research, training and technical assistance to government entities that want to explore how bonds and other development financing tools can support and encourage public and private investment in infrastructure, redevelopment and other projects that benefit a community’s economy. Continue reading →

New Mexico Communities Building On-Ramps to Information Superhighway

Posted on by

New Mexico broadband; photo illustration by Taura Costidis/FNMBy Finance New Mexico

Just as public utilities and the interstate highway system made New Mexico more accessible and habitable over the past century, the internet — today’s information superhighway — is what links the state’s entrepreneurs with potential customers and partners around the world.

In a state with far-flung rural villages and growing urban hubs, such infrastructure enhancements as fast and reliable internet service determine whether residents are isolated or engaged and whether enough taxable revenue can be generated through economic development to improve public safety and community amenities. Continue reading →

New Mexico Film Conference Sheds Light on Entrepreneurial Opportunities

Posted on by

By Belle Allen

The film industry in New Mexico offers numerous opportunities for entrepreneurs to get in on the “lights, camera, action!”

To share information about state resources and growing industry trends with filmmakers, producers, accountants, studios, vendors, crew, actors and emerging media innovators, the New Mexico State Film Office hosts the New Mexico Film and Media Industry Conference.

Established players in the state’s vibrant film industry aren’t the only ones who could benefit from the workshops and sessions: The event is a setting for savvy creatives and go-getters to find a niche in established service areas and to learn about unmet needs their products, properties and talents might fill. Continue reading →

Los Alamos National Lab Program Shares Cutting Edge Technologies

Posted on by

Marianne Johnston

By Mariann Johnston, Richard P. Feynman Center for Innovation

Los Alamos National Laboratory has a stockpile of patents covering technologies with untapped commercial potential, and it wants to simplify the process of sharing these innovations — as well as its portfolio of copyright-protected software — with businesses that can translate this wealth into private-sector jobs.

The lab’s Richard P. Feynman Center for Innovation (FCI) in August launched the Express Licensing program to fast-track the licensing of technologies and software with a simple online application. The application template standardizes licensing terms and makes it possible for LANL to share inventions on a broader scale without making potential partners and customers undergo exhaustive individualized negotiations. Continue reading →

MEP to Showcase Products Made in New Mexico

Posted on by

Claudia Serrano

The New Mexico Manufacturing Extension Partnership is taking the “buy local” concept to a broader level with its New Mexico Made program.

The initiative aims to promote the companies that create and fabricate goods in New Mexico, where manufacturing is a $5.9 billion industry representing 7.4 percent of the total gross state product, according to the National Association of Manufacturers.

It does so by certifying qualifying businesses on the New Mexico Made website directory, raising the profile of the state’s manufacturers and giving participating businesses access to promotions and networking opportunities.

Continue reading →

Revitalizing New Mexico’s Historic Centers of Commerce

Posted on by

Economic development in New Mexico is often a joint effort of individual communities and the state’s Economic Development Department (EDD), which oversees multiple programs designed to bolster the state’s infrastructure and support the entrepreneurial ambitions of New Mexicans.

Three high profile initiatives are the New Mexico MainStreet Program and two programs that fall under its umbrella: the Frontier Communities Initiative and the Arts and Cultural Districts Program.

Continue reading →

Identity Theft Victim Gets Accion Loan to Start Educational Nonprofit

Posted on by

Edwin Rios

Edwin Rios, Loan Assistant, Accion New Mexico – Arizona – Colorado

Mark Medley was working with a business consultant to recover from identity theft when he heard about Accion New Mexico–Arizona–Colorado. What Medley learned while trying to repair his credit prompted him to start a nonprofit — ID Theft Resolutions — to help others protect themselves from identity thieves and to rebound as quickly and completely as possible if their efforts fail.

Medley got a loan from Accion to help him get the nonprofit going after obtaining his designation as a 501c(3) nonprofit. Accion offers loans as small as $200 and as large as $300,000 to people who might otherwise be turned down by lenders because they are a startup or have credit problems.

Medley qualified in both cases: His credit score was destroyed by identity theft and his nonprofit was the equivalent of a startup.

Continue reading →