![]() DreamSpring prohibits loan funds from being used to pay past due bills, tax bills, or personal expenses. Acceptable uses of loan include any business-related expense that helps you start or grow a business including, but not limited to, inventory, equipment purchases, vehicle purchases, payroll and material costs, marketing, buying the assets of an existing business, refinancing debt, and hiring expenses. They consider lending to businesses with any structure in a wide variety of industries. Loan Criteria – Must be over the age of 18, have a SSN or ITIN, want to start or grow a business, must be located in one of the states they serve: Arizona, Colorado, Georgia, Nevada, New Mexico, North Carolina, Texas. They offer several types of loans depending on your business’ needs, with varying interest rates, loan amounts and APRs. Applications can be completed online, by phone, or in person. ![]() DreamSpring serves Arizona, Colorado, Nevada, New Mexico and Texas with business loans ranging from $1,000 to $2,000,000. ![]() , 2000 Zearing Ave NW, Albuquerque, NM 87104, 1.800.508.7624, (formerly Accion serving Arizona, Colorado, Nevada, New Mexico and Texas) is an award-winning, 25-year-old nonprofit organization that increases access to credit, makes loans and provides a community of support to help entrepreneurs realize their dreams. Loan Criteria – Owners of established businesses and individuals who want to start their own business qualify if they have a reasonable credit history, can demonstrate ability to repay the loan and can offer acceptable collateral. The Loan Fund provides complimentary technical assistance to entrepreneurs or businesses receiving a loan. Typically, it takes three to four weeks to close the loan once all information is received. The length of the loan process varies based on when your loan officer receives the appropriate documentation. Loans can range from $5,000 – $750,000 and can be used for operating capital, equipment, building purchase or renovation, land acquisition, and inventory. , 423 Iron Ave SW, Albuquerque, NM 87102, 505.243.3196, Loan Fund provides loans, business training, and consulting to entrepreneurs and small businesses that have difficulty securing traditional commercial credit. The following micro-lenders are in the Santa Fe area. Micro-Lenders also provide entrepreneurs with technical assistance so that other sources of financing can be easier to access. These lenders assist businesses that have trouble accessing capital. Microlenders are lenders that traditionally make loans from $300 – $200,000.
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