NMSBIC News
These recent articles and press releases feature NMSBIC and its partners.
NMSBIC Elects Joshua L. Smith President and Board Chairman»
November 10, 2023
Smith, who was appointed to the NMSBIC board of directors by Gov. Michelle Lujan Grisham in January 2022, has 23 years of experience in banking and finance and is the New Mexico Commercial Division Manager and Senior Vice President for WaFd Bank.
NMSBIC Allocates $25 Million to Support Community Development»
September 13, 2022
In partnership with RBC Global Asset Management (RBC GAM), NMSBIC will invest $25 million in an impact investment strategy that seeks to positively support the creation of small business loans for entrepreneurs in underserved communities across New Mexico.
NMSBIC Gives Presentation to Interim Committee of the Legislature»
September 6, 2022
Russell Cummins, NMSBIC Executive Director and Investment Advisor, gave a presentation to the Investments and Pensions Oversight Committee of the New Mexico Legislature on September 6, 2022. Download the handouts and view the webcast here.
$10 Million Added to NMSBIC’s Commitment to Small Businesses Impacted by COVID-19»
April 21, 2020
At its April 14, 2020 meeting — its second emergency meeting in less than a month — the board voted to increase its previous $25 million COVID-19 response allocation by $10 million, resulting in $35 million available to its lending partners to assist New Mexico small businesses navigating the crisis.
NMSBIC Commits $25 Million to Assist Small Businesses Impacted by COVID-19»
March 25, 2020
The New Mexico Small Business Investment Corporation (NMSBIC), at its March 23, 2020 meeting, committed up to $25 million to its lending partners to assist New Mexico businesses that have been impacted by market disruption related to the Coronavirus (COVID-19) crisis.
State-Backed Small Biz Loans Boost NM Economy»
July 12, 2019
The editorial board of the Albuquerque Journal said about the success of the SBIC lending program, “That’s real growth that translates to private wealth and a healthy economy. N.M. taxpayers should take heart the state is devoting more dollars to a program that not only works, but diversifies the economy while putting New Mexicans to work.”
SBIC to Expand its Lending Partners»
July 8, 2019
SBIC executives say in an Albuquerque Journal article that a doubling of its lending capacity will allow it to offer funds to more microlending organizations, while also increasing lines of credit for current SBIC lending partners.
Pumping Up Small Businesses with State Funds»
July 8, 2019
According to this Albuquerque Journal article, the SBIC is poised to deploy another $52 million in additional severance tax capital, thanks to a new law approved this year that doubles the amount of permanent fund money earmarked for the SBIC.
Small Businesses Flourish with SBIC-Backed Loans»
July 8, 2019
Albuquerque Journal article features several New Mexico small business that have received funding through SBIC lending partners.
Gov. Michelle Lujan Grisham Signs Senate Bill 10»
March 19, 2019
Legislation promoted by Gov. Michelle Lujan Grisham doubles the funding for the state Small Business Investment Corporation, delivering $50 million into new and growing New Mexico small businesses.
NMSBIC sets sights on young entrepreneurs»
posted March 28, 2018
NMSBIC is hosting a networking session at the Inventors and Entrepreneurs Workshop sponsored by the New Mexico Institute of Mining and Technology (New Mexico Tech) Center for Technology Commercialization (CTC) in Socorro. The Joseph A. Fidel Conference Center, 801 Leroy Place, is the setting for the Friday-Saturday, April 13-14, event.
NMSBIC Community Meeting 2016: Accessing Capital in New Mexico»
posted October 14, 2016
On Monday, Oct. 24, 2016, the NMSBIC hosts a community meeting at CNM Workforce Training Center, 5600 Eagle Rock Ave. NE in Albuquerque, to introduce the owners of new and expanding businesses to lenders and experts with the financing and knowledge to help their businesses thrive. The public meeting, called Accessing Capital in New Mexico, starts at 11:00 a.m. and will include optional one-on-one private meetings with lenders. Lunch will be provided to those who register.
The meeting offers business owners and aspiring entrepreneurs an opportunity to talk personally with lenders and get answers to questions about free and affordable business services and small-business loans.
NMSBIC Community Meeting 2015: Accessing Capital in New Mexico»
October 23, 2015
On Friday, Oct. 23, 2015, the NMSBIC hosts a community meeting in Los Lunas to introduce the owners of new and expanding businesses to lenders and experts with the financing and knowledge to help their businesses thrive. The public meeting, called Accessing Capital in New Mexico, runs from 11:30 a.m. to 1:30 p.m. at the Transportation Center, 101 Courthouse Road. Lunch will be provided.
The meeting offers business owners and aspiring entrepreneurs an opportunity to talk personally with lenders and get answers to questions about free and affordable business services and small-business loans.
NMSBIC Community Meeting 2014: Accessing Capital in New Mexico»
October 27, 2014
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 to knowledgeable resources that can help their businesses grow. The meeting, called Accessing Capital in New Mexico, is open to the public and will be held from 11:30 am to 1:30 pm on Monday, October 27, 2014 at the Business Enterprise Center, 105 E. Grand Avenue, Clovis, New Mexico. RSVP no later than Thursday, October 23, 2014.
NMSBIC Community Meeting 2013: Accessing Capital in New Mexico»
August 22, 2013
“The NMSBIC Board is excited to hold its August, 2013 meeting in Española and to have this opportunity to share information with members of the community in Northern New Mexico,” stated Joseph H. Badal, NMSBIC Board Chair and President. The meeting, called Accessing Capital in New Mexico, is open to the public and will be held from 5:30 p.m. to 7:30 p.m. on Thursday, August 22, 2013 at the Santa Claran Hotel, Rio Grande Room, 460 N. Riverside Drive, Española, New Mexico.
NMSBIC Community Meeting: Accessing Capital in New Mexico»
July 16, 2012
“The NMSBIC will host a community meeting to provide information to new and expanding businesses on Accessing Capital in New Mexico. The meeting is open to the public and will be held from 5:00 p.m. to 7:00 p.m. at the City of Hobbs Annex Building, Third Floor, at 200 E. Broadway, Hobbs, New Mexico on Monday, August 13, 2012.”
NMSBIC selects Russell Cummins as Executive Director/Investment Advisor»
May 25, 2012
“The NMSBIC Board is delighted to have someone with the background and experience that Russ Cummins will bring to the Executive Director/Investment Advisor position,” stated Joseph H. Badal, NMSBIC Board Chair and President.
For Women, By Women»
October 6, 2011 CNN Money
“Business incubators are a critical lifeline for budding entrepreneurs. These startup boot camps provide fledgling companies training, counseling, facilities, office space and the most essential element for a small business — access to funding.” WESST is one of “seven that are on fire.”
NMCC’s Shyla Sheppard named to 2011 Native American 40 Under 40»
September 2, 2011 New Mexico Community Capital
“First Nations Development Institute and its wholly-held subsidiary, First Nations Oweesta Corporation, are proud to announce that board member Shyla Sheppard (Three Affiliated Tribes) has been named to the “Native American 40 Under 40″ by the National Center for American Indian Enterprise Development (NCAIED).”
ACCION in Action»
January 10, 2011 Albuquerque Journal
“After delivering $26.6 million in loans to more than 2,500 companies over 16 years, ACCION New Mexico decided it was time to see what kind of ripple the organization has created in the state economy.”
NM’s Microlenders and Incubators Flourished in 2010»
December 31, 2010 New Mexico Business Weekly
Nonprofit microlenders and small business incubators grew, perhaps tapping a desire for entrepreneurship among those who lost steady jobs.
Technology Firms Saw Improvements in 2010»
December 31, 2010 New Mexico Business Weekly
Many venture-backed startups expanded their markets and signed new partnerships, setting themselves up for much more growth next year and beyond.
VC Picks Up Speed in New Mexico, Nationally»
September 27, 2010 New Mexico Business Weekly
Local deal flow is still sluggish, but New Mexico investors report a marked increase in funding this year compared to 2009.
New Mexico Community Capital Receives New Funding to Help Build Tribal Businesses»
May 5, 2010 New Mexico Community Capital
New Mexico Community Capital received $649,111 of funding to pilot a tribal business initiative.
Venture Capitalists Plant Fresh Seeds in Local Startups»
April 16, 2010 New Mexico Business Weekly
Investors are investing significantly more in seed and early stage deals in New Mexico and nationally since the beginning of the year, said Trevor Loy, managing partner of Flywheel Ventures.
Flywheel Grows its Portfolio with New Investments»
April 16, 2010 New Mexico Business Weekly
Txteagle is the second investment this year for Flywheel Ventures’ gap fund, which provides seed money for early-stage startups.
Biz Weekly Honors ‘Who’s Who in Technology’»
April 2, 2010 New Mexico Business Weekly
The New Mexico Business Weekly honored 28 people who have made a mark in the technology field at its “Who’s Who in Technology” event Thursday.
The Loan Fund Doubles Small Business Lending in 2009»
January 1, 2010 The Loan Fund
The Loan Fund recently marked its 20th year of financing and supporting entrepreneurs throughout New Mexico by making $6.4 million in small-business loans, compared to $3.3 million in 2008.
WESST Opens New Business Incubator»
April 17, 2009 New Mexico Business Weekly
A slew of politicians, business leaders and economic development officials celebrated the opening of the state’s newest business incubator Friday in Albuquerque. The WESST Enterprise Center at 609 Broadway NE has been six years in the making. WESST is a staple of New Mexico’s small business sector, offering business assistance, loans and other services to entrepreneurs.