Collateral Support Program (New Mexico)

From Open Energy Information

Last modified on February 12, 2015.

EZFeed Policy

Place New Mexico

Applies to States or Provinces New Mexico
Name Collateral Support Program (New Mexico)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics
Active Policy Yes
Implementing Sector State/Province

Funding Source US Department of Treasury State Small Business Credit Initiative

Program Budget $13.2 million

Program Administrator New Mexico Finance Authority
Primary Website

Last Review 2014-09-15

Information Source


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

Policy Contact

Contact Name John Brooks
Department New Mexico Finance Authority
Division Economic Development and Private Lending

Phone 505-992-9638

Contact Name Leandro Cordova
Department New Mexico Finance Authority
Division Economic Development and Private Lending

Phone 505-992-9637


Authorities (Please contact the if there are any file problems.)

Authority 1: Small Business Jobs Act of 2010
Date Effective August 2010