apply for money through a revolving loan fund supported by USDA Rural Development.
New Mexico’s Community Development Loan Fund just received an obligation of $400,000 to be used to expand small, rural businesses in rural New Mexico.
“The Loan Fund,” as it’s known, is a national Intermediary Relending Program which provides financial support in rural areas of 25,000 people or less.
The revolving loan program is designed to provide financial assistance for various types of projects including community development projects, and the opening of new businesses or
the expansion of existing businesses, with the goal of saving or creating new jobs in rural areas.
“The Loan Fund” will use the $400,000 Intermediary Relending Program loan to target the financing of renewable energy systems owned by ag-producers and small businesses, and to
provide other financial support to rural small businesses.