Following the Signs to Small Business Success

Virtually everyone in New Mexico has seen signs made by P&M Signs. Article by Jason Gibbs.

You’ve seen the signs.

For nearly half a century, Phil Archuletta, the CEO of P&M Signs, has crafted signs for the U.S. Forest Service and the Bureau of Land Management. He got his start in 1970 in Ojo Caliente before opening P&M Signs in Mountainair in 1991. He now employs a dozen people in the rural community in Central New Mexico.

If you’ve toured a national forest, Archuletta’s signs likely guided your way. If you’ve seen the ubiquitous Smokey Bear fire danger signs in New Mexico, that’s his handiwork. Stopped to read a historical marker in the state? Yup, that’s his too.

The signs are produced in an 11,000 square-foot, $1 million facility in Mountainair. He’s designed and manufactured Forest Service road signs all over the country, “coast to coast,” he said. Around 70 percent of the signs in New Mexico are churned out of the giant, blue building in Mountainair with “lots of cars parked around it,” Archuletta said. He also holds a patent for the road closure signs used in the national forest and BLM lands. Continue reading

Define Need Before Applying for Business Loan

Cabra Coffee in Cedar Crest, New Mexico

Cabra Coffee in Cedar Crest financed growth through The Loan Fund

Most New Mexico entrepreneurs can’t start or operate a small business without occasionally borrowing money. And that requires preparation and a methodical approach.

It begins by identifying why the money is needed and the most appropriate loan to fulfill that need. It continues with finding a lender that offers optimal terms and fees for clients with the borrower’s credit score and financial resources and gathering documents the lender needs to review.

Define the need: Businesses may need loans for daily operating expenses or to build reserves, renovate a commercial building or buy equipment. The specific need typically drives the decision about what type of loan to shop for. Continue reading

The Loan Fund Helps Launch In-Home Care Service

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.

Continue reading

Loans Help Contractor Build, Renovate Homes in Native Communities

F. Leroy Pacheco

F. Leroy Pacheco, CEO, The Loan Fund

Doris Sandoval works in an industry hard hit by the recession and lagging recovery, yet by following a strategic plan of borrowing through lines of credit, the owner of SSC Construction has kept her business going strong.

SSC Construction is based in San Felipe Pueblo in northern New Mexico near Algodones. The woman- and Native-owned company builds houses on tribal lands all over New Mexico and employs seven members of Sandoval’s family and numerous subcontractors.

While most contractors struggled to find work and financing as home construction slowed and home prices dropped, SSC Construction received five lines of credit from The Loan Fund to underwrite various building projects in Native communities.

Continue reading

Strength without Splash: Small Businesses Generate Steady Growth

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.

Continue reading

Outside Capital Helps Aerial Photography Company Take Off

F. Leroy Pacheco

F. Leroy Pacheco, CEO, The Loan Fund

Blue Skies Consulting knows a lot about building a business through strategic growth funded by outside capital. The Belen-based aerial photography company is a client of The Loan Fund, a top-ranked community development financial institution that provides loans and other banking services to underserved markets in New Mexico.

Blue Skies began its relationship with The Loan Fund in 2009 when it sought funding to buy aerial camera system components in preparation for the purchase of a digital aerial camera designed for high-resolution photography. Two loans in 2011 made it possible for the company to buy the Microsoft Vexcel UltraCam Lp, the only photogrammetric digital mapping camera in New Mexico. Continue reading

Quemado Rito Convenience Store Puts Rural Community Back on the Map

 

F. Leroy Pacheco

F. Leroy Pacheco, President and CEO, The Loan Fund

Tommy Padilla works full time for the state Livestock Board and owns a 2,000-acre cattle ranch near Quemado, a rural community that’s home to 781 people. In 2008, he saw an opportunity to provide a needed service to motorists driving through the town.

Quemado is on U.S. Highway 60 in rural western New Mexico. For decades, the community supported five gas stations and four restaurants that served travelers heading to and from Arizona and California. But after east-west Interstates 10 and 40 were built in the 1960s, Quemado began a slow decline.

Continue reading