NMSS - Boosting Local Businesses

Local Partnerships

jan — Sun, 21 May 2006 14:45:01 -0600

Partners for Technology Success

No business makes it on its own! We all benefit from support from our colleagues, trade associations, and other organizations in our field. New Mexico is rich in both business support organizations and in technical support organizations like the ones below. From these groups, you may:

meet strategic partners
build alliances
get recommendations for key employees
locate scientists and engineers who can help you solve technical problems
identify technology that is ready for commercialization.

Commercialization & Research Support

Support From Peers

Local Financing Your Business

jan — Sun, 21 May 2006 14:41:59 -0600

Financing Your Business

Capital is always a challenge for business, whether you need to access funds for start-up and expansion, or a line of credit to manage cash flow needs. Both debt and equity (investment) resources are available in Metro New Mexico. The federal SBIR/STTR programs offer highly competitive grants to small, high technology businesses.

Debt Financing

Many commercial banks in Metro New Mexico offer competitive small business loans with or without SBA loan guarantees. In addition, several organizations specialize in micro-lending, with invaluable business assistance as part of the package. The local SBA and Small Business Development Centers can help you do a financial analysis and prepare a loan package, whether for a government or commercial loan.

ACCION - microfinance organization dedicated to helping low-income entrepreneurs with technical assistance and micro-lending programs.
Enchantment Land Certified Development Company - a non-profit organization offering competitive long-term loans with low down payments to finance such assets as buildings, land and machinery.
The Loan Fund - an alternative source of loans, technical assistance, and advocacy for low-income people.
Santa Fe Small Business Development Loan Fund
Small Business Administration, Albuquerque - information about SBA loans
Small Business Development Center Network - information about SBA loans and lenders; technical assistance
USDA Business & Industry Guaranteed Loans - available to qualified businesses in rural areas (less than 50,000) including Belen and Estancia Valley, that promote economic development
WESSTCorp - a non-profit organization headquartered in Albuquerque, dedicated to facilitating the start-up and growth of women and minority-owned businesses in New Mexico through training and micro-lending programs.

Equity Financing

Metro New Mexico is now on the equity capital radar screen:

Technology Ventures Corporations runs an equity capital symposium in Albuquerque and helps prepare companies seeking equity investments.
The New Mexico State Investment Council has joined with Fort Washington Capital Partners to invest New Mexico funds in local companies.
The Coronado Ventures Forum and the Gathering of Angels in Santa Fe both bring potential angel and venture capital investors (small, seed capital private investors) together with target companies.
New Mexico Community Capital provides equity capital and business growth services to qualifying NM businesses, especially in under-invested areas; particular interests include light manufacturing, sustainable energy, and consumer products.
New Mexico Venture Capital Association sponsors a quarterly CEO Forum which, allows New Mexico CEO’s to network with business and financial experts
More than a dozen venture capital companies now have offices in Metro New Mexico.

Grants

There are very few grant programs for businesses. The primary exceptions are the federal Small Business Innovation Research and Small Business Technology Transfer programs for small, high technology companies. Information about these programs and training on proposal writing is available from SBIRworld or through the SBIR Outreach Center at Technology Ventures Corporation. The New Mexico Women's Foundation helps nonprofits and grassroots groups that work with women to develop cottage industries

According to TVC, New Mexico ranked 12th among all states in SBIR awards in 2004, with companies receiving 99 awards totaling $25 million - a new record for the state!

Local Business Incentives

jan — Sun, 21 May 2006 14:28:32 -0600

Incentives Work For Local Business

If you have a manufacturing business, or if your company derives more than 50% of its revenues from out-of-state sales, you qualify as a economic-based company. That qualification opens the door to a variety of financial incentives including:

Your company may also take advantage of myriad other industry-specific tax credits and deductions. E-mail or call us at 800-226-2935 for an individual assessment of credits you are eligible for, and assistance applying for them.

Local Support Organizations

jan — Sun, 21 May 2006 14:21:30 -0600

Local Support Organizations

Metro New Mexico's sunny economic forecast, combined with generous incentives, access to national labs, affordable locations and low business costs all contribute to attracting many companies. Metro New Mexico's local support organizations and resources help foster business, whether huge or tiny. Some of those organizations include:

Small Business Administration

SBA, New Mexico District Office - Albuquerque; Resources for small businesses, including information on starting a business and local success stories.
SCORE - Albuquerque; Provides free expert assistance in solving problems encountered by small businesses.
SCORE - Santa Fe; Promotes the economy of Santa Fe and Northern New Mexico by counseling small for-profit and nonprofit businesses.

NMSS - Boosting Local Businesses

Local Partnerships

Partners for Technology Success

Commercialization & Research Support

Support From Peers

Local Financing Your Business

Financing Your Business

Debt Financing

Equity Financing

Grants

Local Business Incentives

Incentives Work For Local Business

Local Support Organizations

Local Support Organizations

Small Business Administration

NM Small Business Development Centers

Incubators

Other Support Organizations

Business Membership Groups

Local Government

The State of New Mexico