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Collateral Support Program (New Mexico)
DSIRE/LstUpdt September 15, 2014  +
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/AddlPlaceSelector State-Level  +
Incentive/AddlPlaceStateLevel New Mexico  +
Incentive/ApplDsc Commercial  +
Incentive/AuthCode Small Business Jobs Act of 2010  +
Incentive/AuthDtEff August 2010  +
Incentive/AuthLink http://thomas.loc.gov/cgi-bin/query/D?c111:6:./temp/~c111C9lxQs::  +
Incentive/Cont2Dept New Mexico Finance Authority  +
Incentive/Cont2Div Economic Development and Private Lending  +
Incentive/Cont2Email lcordova@nmfa.net  +
Incentive/Cont2Name Leandro Cordova  +
Incentive/Cont2Phone 505-992-9637  +
Incentive/Cont2Website http://nmfa.net/NMFAInternet/NMFA_Web.aspx?ContentID=145  +
Incentive/ContDept New Mexico Finance Authority  +
Incentive/ContDiv Economic Development and Private Lending  +
Incentive/ContEmail jbrooks@nmfa.net  +
Incentive/ContName John Brooks  +
Incentive/ContPhone 505-992-9638  +
Incentive/ContWebsite http://nmfa.net/NMFAInternet/NMFA_Web.aspx?ContentID=145  +
Incentive/FundSrc US Department of Treasury State Small Business Credit Initiative  +
Incentive/ImplSector State/Province  +
Incentive/Name Collateral Support Program (New Mexico)  +
Incentive/PolicyType Financial Incentive  +
Incentive/ProgAdmin New Mexico Finance Authority  +
Incentive/ProgBudget $13.2 million  +
Incentive/Summary The New Mexico Finance Authority has been
The New Mexico Finance Authority has been approved to administer a $13.2 million Small Business Collateral Support Participation Program. The funds are dedicated to help finance credit worthy small businesses leverage private lending when they are unable to obtain the capital required to expand and create jobs. Through the Collateral Support Participation program, the Finance Authority is able to partner directly with banks to provide capital to credit worthy businesses seeking to expand and create or retain jobs. Under this bank participation program, the Finance Authority is able to fund quickly and efficiently lower the interest rate paid by the business and mitigate the bank’s risk by purchasing a portion of the bank’s loan, often in a subordinated collateral position. The amount of the Finance Authority’s participation will vary based upon the location of the business, the term of the loan and the collateral position offered to the Finance Authority. In order to qualify for Collateral Support Participation program funds, a small business must: - Be located in New Mexico - Use the loan proceeds for business purposes - Be a non-profit corporation or a for-profit corporation, partnership, limited liability company or partnership, sole proprietorship, cooperative or other entity that is authorized to conduct business in the State of New Mexico - Have 500 or fewer employees - Meet the bank’s lending requirements with the exception of the deficient collateral, which is enhanced through the program
ral, which is enhanced through the program  +
Incentive/TechDsc Biomass/Biogas + , Coal with CCS + , Concentrating Solar Power + , Energy Storage + , Fuel Cells + , Geothermal Electric + , Hydroelectric energy + , Hydroelectric (Small) + , Natural Gas + , Nuclear + , Solar Photovoltaics +
Incentive/Type Loan Program +
Incentive/UserSource http://www.gonm.biz/uploads/files/cspBrochure.pdf http://energy.gov/savings/collateral-support-program-new-mexico  +
Incentive/Website http://www.gonm.biz/Business_Financial_Assistance.aspx  +
OpenEI/PageDescription Collateral Support Program (New Mexico): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Mexico  + , Loan Program  + , New Mexico Finance Authority  +
Place New Mexico: Energy Resources +
Categories EZFeed Policies , Incentive with Contacts , Incentive with Authorities
Modification date
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02:12:53, 13 February 2015  +
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