The nonprofit lender and resource provider WESST is just one of the small-business loan providers that will offer information at the 2025 Black Business Summit on February 28 in Rio Rancho. The event is free, but registration is required due to limited space.
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TEAM Fund Offers Zero-Interest Loans
The Regional Development Corporation’s TEAM Fund will begin accepting applications from businesses in Northern New Mexico on February 18, 2025. RDC’s Technology & Manufacturing (TEAM) Fund awards up to $20,000 in no-interest loans to technology and manufacturing companies on track to add jobs, grow revenues, and attract additional funding or investment.
Continue readingLoan Enables Contract Fulfillment for REI
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.
Continue readingRural Businesses Can Get Free Coaching – With or Without a Loan
The nonprofit lender RCAC provides no-cost direct technical assistance to rural entrepreneurs and small businesses to launch or re-launch their business; operate, sustain, and grow their business; secure access to financing; and build networks.
Continue readingResources for Creative Entrepreneurs Suffering Hardship
Suppose a disaster, illness, or other hardship disrupts your ability to work as a creative entrepreneur. In that case, you can apply for emergency relief funding or support services based on your artistic field.
Continue readingNonprofits in Need: Borrowing Can Be Tool for Financial Stability
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.
Continue readingConsider Giving to Business This Tuesday
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.
Continue readingMilitary Entrepreneurship Summit
The Military Community Entrepreneurship Summit will take place in Las Cruces on Dec. 3, 2024. The full-day summit offers essential business resource information to military entrepreneurs. Participants can tap into expert-led breakout sessions, networking opportunities, and the experience of veteran business owners.
Continue readingB: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 readingSmall Business Loan is Most Recent Help for Gallup Family Business
Robert Slover leaned on the WESST Farmington Women’s Business Center for extensive one-on-one consultation sessions in the early days of his cell phone repair business. Cell Phone Doctor sells new and factory-refurbished phones, including iPhone, Samsung, LG, Motorola, and Android, and it services all brands of cell phones and tablets. The business also sells PlayStation and Xbox gaming systems and can network unlock phones. When the Gallup business was ready to expand, Stover turned to WESST again, this time for a small business loan.
Slover’s relationship with WESST initially focused on cash flow and financial planning. Soon after, Slover worked with consultant and trainer Holly Patterson to understand how to use digital marketing tools to improve his social media postings. Help with marketing strategies aimed at growing his target markets was next.
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