Tag Archives: New Mexico business

Loan Enables Contract Fulfillment for REI

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Jonathan Ballesteros is the inventor, founder, and CEO of Geyser Systems, a manufacturer of portable water systems. When the company obtained a large contract with REI Co-op, Ballesteros turned to the small-business lender B:Side Fund for a loan to expand production.

Geyser Systems designs and manufactures products that address real-world problems faced by 2.3 billion people: water-scarcity and sanitation. Their flagship product is a hot, portable shower that uses less than one gallon of water and is ready to use in as little as five minutes. 

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Grant and Loan Program Helps Businesses Install Renewable Energy Systems

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U.S. Department of Agriculture (USDA) Rural Development REAP provides grants and low-cost loans to agricultural producers and rural small businesses interested in saving money by saving energy. The Rural Energy for American Program (REAP) aims to reduce the amount of greenhouse gas pollution that affects the climate. REAP grants and loans help businesses purchase and install renewable energy systems and make energy-efficiency improvements.

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Businesses Paid to Hire Interns

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Small businesses in need of workers can hire an intern and receive pay reimbursement of up to $4,800 per intern through the Paid Internship Assistance for Employers program at Central New Mexico Community College. The program aims to give students real-world working experience as it connects businesses to a talent pipeline of potential future employees from CNM.

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New Mexico MEP Helps Company Go Lean

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Largo Tank received assistance from NM MEP

In 2014, Adam Wagoner attended a Lean 101 workshop conducted by Denise Williams, Northwest Region Innovation Director for New Mexico Manufacturing Extension Partnership (MEP), when it hit him that lean strategies would be a good fit for Largo Tank’s longstanding company culture of promoting from within and encouraging professional development among workers.

Wagoner is an owner and vice president of Largo Tank and Equipment, a three-location manufacturing and service facility for truck-mounted equipment, fire equipment, truck tanks, and tank trailers in the Four Corners region.

Largo’s focus is welding and mechanical service work on all types of semi-trailers, tankers, and truck-mounted equipment. The company holds an American Society of Mechanical Engineers (ASME) U-stamp for pressure vessel manufacturing and an R-stamp for pressure vessel repairs.

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VAPG Grant Awards Up To $75,000 For Feasibility Studies

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The portal to apply for a Value Added Producer Grant is open until April 17, 2025, but agriculture producers and food manufacturers should prepare now to apply. The VAPG program, funded and administered by the U.S. Department of Agriculture Rural Development, awards up to $75,000 for feasibility research and planning and up to $250,000 for operating expenses to individual businesses and organizations engaged in adding value to agricultural products.

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Ski Lift Pitch Offers $10,000 Grant

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Nine pre-seed and series-seed New Mexico startup businesses will compete for $10,000 at this year’s Ski Lift Pitch on February 4 at Taos Ski Valley. Organized by Activate NM and powered by CNM Ingenuity, the Ski Lift Pitch brings together New Mexico’s best startups and world-class VC funds for a fun-filled day on the slopes. The competitors have already been selected, but entrepreneurs can attend to learn what a successful pitch looks like.

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Nonprofits in Need: Borrowing Can Be Tool for Financial Stability

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The Loan Fund at St. Elizabeth Shelter
The Loan Fund at St. Elizabeth Shelter

A nonprofit isn’t in business to enrich its shareholders, but it still needs revenues and incurs operating expenses while pursuing its community service mission. It, too, can experience cash flow problems or require considerable cash to fund a capital project or expanded services.

When that happens, the nonprofit faces many of the same choices a for-profit business does, though it draws from different funding sources.

While a for-profit business can offer investors a chance to share in the company’s fortunes by buying stocks, for example, a nonprofit relies on stakeholders who are motivated by public interest rather than self-interest.

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