Success Stories – Loan Program

Through its partnerships, the NMSBIC has provided loans to these companies that have been featured in the press.

Banks Do Businesses a Favor When They Turn Down a Loan Request»
Sept. 19, 2023; Albuquerque Journal

Bankers like Joshua Smith, New Mexico Senior Vice President of Washington Federal Bank, regularly refer small businesses to CDFIs where they can get help with financial literacy and business plan development that increases the venture’s success and prepares owners for obtaining a loan.

Rural Community Assistance Corporation Helps Put Food Truck ‘Over the Moon’»
May 9, 2023; Albuquerque Journal

Melinda Arquero’s dream of owning a food truck business came true in 2019 – and then the pandemic hit. A loan from Rural Community Assistance Corporation (RCAC) helped the business survive, and then thrive with new equipment and by serving new markets.

Gallup Community Central to Music Store Owner»
February 23, 2022; Navajo Times

Quintana’s Music Center turned to the Rural Community Assistance Corporation (RCAC) for a loan that would help them purchase the inventory needed to launch their store. Barely two years later, another loan helped the business survive the pandemic.

Startup Relied on Family Funds, Local Advisers»
June 14, 2021; Albuquerque Journal

Two months after COVID-related emergency orders shuttered the clinic that employed them, Melissa Esquibel and three colleagues started Sandia Sunrise Therapy LLC with assistance from WESST.

WESST and Client Navigate Pandemic Problems Together»
August 27, 2020; Valencia County News-Bulletin

Amanda Davison, CEO of The Family Connection, was able to “pay it forward” by sharing with WESST what she learned about the PPP loan program so that WESST could help its clients the way it had helped Davison.

Lenders Loyalty Sustains Business Growth for Disabled Vet»
August 21, 2020; Gallup Sun

Ron Edwards, CEO of Focus Advertising, secured several loans from The Loan Fund. “They’ve always been there for us,” Edwards said of The Loan Fund. “We love doing business with them; they are like a family.”

Resources Target Veterans in Business»
November 17, 2019; Rio Rancho Observer

Having his own business “was just something I wanted to do,” said Jose Ocampo, owner of Santa Fe Exclusive Honda and Acura Repair. A loan from The Loan Fund helped Ocampo purchase his building.

Coworking Space Helps Vet Build Gourmet Popcorn Business»
August 5, 2019; Albuquerque Journal

“Coworking spaces like those at the WESST Enterprise Center increase opportunities for emerging or expanding businesses like Cornivore.”
Popcorn entrepreneur Roberto Mendez found space and assistance at WESST.

Small Size No Deterrent for Nonprofit Lender Accion»
March 31, 2019; Rio Rancho Observer

When Charles Riley of Carrizozo approached a local banker for a loan to purchase machinery that would help his business grow, he was told the bank couldn’t help him — it couldn’t loan such a small amount. That’s when Riley was referred to Accion.
Accion is now known as DreamSpring.

Following the Signs to Small Business Success»
March 22, 2019; Clovis Livestock Market News

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. When Archuleta sought an extension on a loan during the 2008 recession, he was told the bank would no longer extend loans like his, despite his record of on-time payments.
P&M Signs of Mountainair continued operations thanks to a loan from nonprofit lender The Loan Fund.

Loan Can Bake in Success»
December 17, 2018; Albuquerque Journal

 Pratt Morales, founder of Golden Crown Panaderia, didn’t have the kind of credit history that traditional lenders want to see before approving loans. But given the bakery’s enormous popularity with its customers and decades of success, a local banker referred Morales to Accion”
Accion is now known as DreamSpring.

New Mexico Businesswoman’s Soaps, Lotions Made With Milk from Goat Herd»
October 22, 2018; Las Cruces Sun News

“Daven Lee is exactly the type of business owner that Accion loves to support,” said Metta Smith, vice president of lending and client experience at Accion. Lee tapped into New Mexico’s many small-business resources, including a loan from Accion, to turn Love + Leche into a thriving business.
Accion is now known as DreamSpring.

WESST’s Online Courses Help Women Entrepreneurs Build Dreams»
October 16, 2018; Santa Fe New Mexican

Graduates of WESST’s DreamBuilding course leave the program with a first draft of a business plan that they create using business plan generator software that prompts them to apply course concepts to their own business or business idea and stores the answers in a business plan template.

New Mexico Woman Brews Up Business With Help from Nonprofit Lender»
September 9, 2018; Las Cruces Sun News

Hannah Johnson needed startup capital to open Cabra Coffee in Cedar Crest. Because hers was a new business, she did not qualify at a traditional bank. In addition to getting a loan from The Loan Fund, the nonprofit lender has offered Johnson advice on various business matters, including building her website.

Classes, Funding Help to Nourish Make My Lunch»
January 7, 2011 by Christie Chisholm, New Mexico Business Weekly

“Callie Tolman was bored.” “Looking for a challenge, two years ago she hatched a business plan. A year ago, she put it into action.”
Make My Lunch has received assistance and loans from WESST and The Loan Fund.