Tag Archives: NMSBIC

The Loan Fund Helps Launch In-Home Care Service

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Joe Justice

Joe Justice, Community Development Officer, The Loan Fund

Leslie Van Pelt knew she wanted to do some type of work that improved people’s lives when she visited the Albuquerque offices of Comfort Keepers, a national for-profit company that provides in-home nonmedical care to the elderly and other adults recovering from illness and injuries. What she saw persuaded Van Pelt, co-owner of Cutlery of Santa Fe, to begin searching for funding to open a Santa Fe franchise.

Van Pelt already had a home equity line of credit, but she needed more money to launch the franchise. Her inquiries led her to The Loan Fund, an alternative lender that provides capital to businesses and nonprofits in New Mexico.

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Strength without Splash: Small Businesses Generate Steady Growth

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Joseph H. Badal

Joseph H. Badal, Board Chair and President, NMSBIC

When avionics supplier Bendix/King and power grid connector Tres Amigas each selected New Mexico as their new administrative headquarters, the announcements represented the kind of economic development most regions aggressively seek. Bendix/King, a Honeywell subsidiary, is expected to create up to 100 new engineering and support jobs by the end of 2012. Tres Amigas, which plans to connect three regional power grids at their superstation in Clovis, will create 15-20 jobs in Clovis, 75 – 100 high-paying jobs at a new administrative office/control center in Albuquerque and untold jobs when it completes construction of a 15,000-to-20,000 square foot training center in Rio Rancho. All of these projects are examples of classic economic development: The jobs they create are new and originate outside the local area.

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