NMSBIC Community Meeting: Accessing Capital in New Mexico
The New Mexico Small Business Investment Corporation (NMSBIC) will host a community meeting to introduce owners of new and expanding businesses to sources of capital and knowledge that can help their businesses grow. The meeting, called Accessing Capital in New Mexico, is open to the public and will be held from 5:00 p.m. to 7:00 p.m. on Monday, August 13, 2012 at the City of Hobbs Annex Building, third floor, 200 E. Broadway, Hobbs, New Mexico.
New Mexico and Lea County business-service providers will discuss free and low-cost services, and a panel of representatives from loan organizations will answer questions from the public. Panelists include Leroy Pacheco, CEO of The Loan Fund; Dr. Lisa Hardison, President of the Economic Development Corporation of Lea County; Brandon Hunt, Director of the Small Business Development Center at New Mexico Junior College; Juan Pablo Trevizo, Portfolio Quality Supervisor at Accion New Mexico; and Anthony Urquidez, Regional Manager at WESST. The panel will be moderated by Russell Cummins, NMSBIC Executive Director and Investment Advisor.
Hobbs Mayor Sam Cobb will provide welcoming comments. Mayor Cobb has served on the NMSBIC board of directors since 2003 and was recently reappointed by Governor Susana Martinez. Mayor Cobb and NMSBIC Board Chair and President, Joseph H. Badal, will remain on hand to answer questions.
NMSBIC meetings, which are open to the public, are held 8-10 times a year in Albuquerque, but once a year the board hosts a forum to introduce NMSBIC financial program lenders to other communities. This is the second time the NMSBIC has hosted a meeting in Hobbs.
“The NMSBIC Board is excited to hold its August meeting in Hobbs and to have this opportunity to share information with members of the Hobbs community,” stated Joseph H. Badal, NMSBIC Board Chair and President.
The NMSBIC was created in 2001 under the New Mexico Small Business Investment Act to help promote economic development throughout the State of New Mexico. The NMSBIC does this by providing equity and debt capital to small businesses in coordination with cooperative agreement partners under its Lending and Equity Programs. NMSBIC’s Lending Program cooperative agreement partners include Accion New Mexico, New Mexico Community Development Loan Fund (The Loan Fund), and WESST. Equity Program cooperative agreement partners include Flywheel Ventures, New Mexico Community Capital, New Mexico Mezzanine Capital, and Verge Fund. Since 2004, the NMSBIC has made more than 2,400 loans through its lending partners to virtually every community in the state.
The NMSBIC is funded by an allocation from the Severance Tax Permanent Fund. For more information please visit www.nmsbic.org.