A nonprofit organization that increases access to business credit, makes loans and provides training which enables New Mexico-based entrepreneurs to realize their dreams. Since 1994, DreamSpring has provided more than 14,000 loans totaling over $142 million to entrepreneurs in 600 New Mexico, Arizona, Colorado, Nevada, and Texas communities.
The small businesses funded by the organization have created or sustained an estimated 20,000 jobs.In 2018, 90 percent of loans issued by the organization went to low-to-moderate income, minority and/or women entrepreneurs.
Type of Businesses Served
- Wide variety of businesses, from restaurants and artisans to manufacturers and mechanics.
Stage of Businesses Served
Funding Style
Funding Range
- Loans and Lines of Credit from $1,000 to $2,000,000
Online Loan Application
Start an online application here.
Mark Medley of ID Theft Resolutions with the Accion team at his loan signing
Applicant Requirements
- Strong commitment to managing the credit provided.
- Strong commitment to the business and its development.
- For loans $35,000+, business plan, three years of personal or business tax returns
- Collateral (for loans below $5,000, can have qualified co-signer in place of collateral)
Resources Provided
- Financial literacy training
- Credit review for applications
- Technical assistance referrals
- Mentorship opportunities for clients
Read articles
- Nonprofit Lenders Lower Startup Funding Risk
- Loan Enables Investment in Vintage Motel, Local Economy
Contact
www.dreamspring.org or 1-888-265-5676