Tag Archives: small business loans

SBA Loans Offer Low Interest Rates

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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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WESST Named NM Microlender of 2025

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The nonprofit business development organization WESST has been named the New Mexico Microlender of the Year 2025 by the U.S. Small Business Administration. Known best for its workshops and business consulting, WESST has a loan fund that offers microloans to qualifying businesses that work with its consultants.

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Historic Childcare Center to Double Capacity

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Christina Kent Early Childhood Center (CKECC), Albuquerque’s oldest continuously operating childcare center, is set to significantly expand its services through the purchase and renovation of a new building, thanks to a community-centered partnership with Homewise. The expansion will allow CKECC to double its capacity, offering critical early education to even more families in the Barelas neighborhood and across Albuquerque. 
 
Established in 1919, CKECC has served the Albuquerque community for over a century, providing high-quality childcare and early childhood education to low-income families. The center, accredited by the National Association for the Education of Young Children (NAEYC), currently serves 62 children in three classrooms and is committed to ensuring accessible education through a sliding scale tuition model that considers both income and family size. Through its participation in the NM PreK program, CKECC also offers free tuition for 3- to 5-year-olds. 

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Learn to Use QuickBooks to Manage Business Finances

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April is Financial Literacy Month, and for business owners, that means getting business finances in order. The business development organization WESST is offering a workshop in Santa Fe from 10:00 am to 12:00 pm on April 22, 2025, to teach business owners how to use the QuickBooks financial and accounting software.

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Line of Credit Boosts Security Entrepreneur

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Like many entrepreneurs, Adrian Chavez, Sr. did not intend to start a security business.

Chavez created Lobo Protective Services in 2017 after working as a security guard to earn income while studying political science at university and paying for his wedding. It was working that job that he was approached by someone who noticed his work ethic and integrity.

“This woman said, ‘I never met someone like you in the industry. If you open your own company, I will hire you for my next project,’” Chavez recounted.

Chavez wasn’t well versed in the security field at the time, but he would hear that there weren’t many reputable or state-licensed security companies.

After that conversation and a discussion with his wife, Chavez decided to take the entrepreneurial leap. “It’s not rocket science. It’s doing good, doing what you say, and saying what you mean,” Chavez said.

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Loan for Entrepreneurs Ready to Launch

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The Ready, Set, Grow! loan from the nonprofit lender DreamSpring offers financial footing for entrepreneurs ready to make their side business their main priority. The loan allows entrepreneurs to take the leap and turn their business dreams into reality.  It offers flexible and affordable capital from the nonprofit organization known for funding and support for new businesses.

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LiftLearn Promotes Business Growth

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The nonprofit small business lender LiftFund is now offering self-paced online classes to enhance knowledge about business finance, marketing, HR, and management. Participants in the LiftLearn program walk away with certificates of completion and the know-how necessary to grow their businesses. The LiftLearn program is based on the premise that smart decision-making requires the right tools.

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