The Tuesday after Thanksgiving marks Giving Tuesday when nonprofit organizations encourage charitable donations that can enable their charitable work. Often overlooked are grass-roots economic development organizations such as nonprofit lenders and business resource programs that support entrepreneurship in our state. Nonprofit lenders like DreamSpring, WESST, and others rely on private and public money they make available to startups and small businesses in New Mexico.
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B:Side Capital and B:Side Fund
B:Side Capital and B:Side Fund are two sides of the same mission-based lending organization focused on fostering the economic growth of diverse small businesses.
Continue readingHomewise Helps Couple Buy Building
Christina and Carlos Davis launched Trendz Beauty Supply in December 2010 in Albuquerque to offer high-quality hair and wigs at affordable prices. Having had several negative experiences at other hair stores, the couple decided to make customer service one of their company’s hallmarks. The strategy has paid off. After opening their original shop of 1,700 square feet, the growth of their loyal customer base propelled the company into filling a 3,000 square foot shop, and subsequently into their current 8,000 square foot location with a nearby warehouse encompassing another 2,850 square feet.
The rented space has served the needs of Trendz Beauty Supply, but the Davis’s always wanted to own their own building. That opportunity arose when they learned the owner of the building housing their store was interested in selling.
With the help of the nonprofit lender Homewise, the Davis’s obtained an affordable commercial real estate loan and purchased the building in June of 2022.
Continue readingThe Loan Fund Fuels Adobe Tradition
Albuquerque Joinery is a small design-build company that specializes in new home construction using traditional adobe building techniques and fine carpentry.
Kenny DeLapp and Esther Fredrickson launched the business in February 2020 after building their own adobe home in Albuquerque’s South Valley. Built under an owner-builder permit, their 1,600 square foot home is a showcase of modern construction and traditional materials with brick floors, exposed vigas, adobe mud plaster walls, and site-built solid wood doors.
DeLapp, who is skilled in masonry and fine carpentry, learned traditional building techniques while working with his uncle Win, a long-time adobe builder known for custom furniture, cabinets, and museum exhibits.
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