Business Loans in New Mexico

New Mexico is a splendorous place to start a business. The state is also very business-friendly—a place where a loan can help you succeed.

Types of Business Loans in New Mexico

The Land of Enchantment is a bountiful home to many small businesses, with a favorable corporate tax rate and a booming tourism industry. A business loan can strengthen your company and prime it for triumph in New Mexico.

SBA Loans

A Small Business Administration (SBA) loan is a commercial loan serviced by private financiers, but partly backed by the federal government via the SBA.

Line of Credit

Similar to a credit card, a revolving line of credit allows you to make purchases on credit and then pay down your balance as you go.

Term Loan

If approved for a term loan, you receive a lump sum disbursement that you repay, plus interest and fees, in monthly installments over years—sometimes up to 25 or 30 years.

Equipment Finance

You can finance equipment up front. This allows you to use it and start growing your revenue through it, while paying it off in installments.

Accounts Receivable Financing

If you are owed a significant amount of money due to unpaid invoices, you can receive a business loan based on these invoices in the form of accounts receivable financing.

Local New Mexico Business Loan Options

Several non-profits service low-interest loans to small businesses that set up shop in the Lone Star State.

New Mexico Bank & Trust has a growing suite of commercial lending programs, and they have branches throughout the state. This bank even provides educational resources like cash flow modeling.

United Business Bank is another popular New Mexico bank with multiple locations in the state and the wider western United States. The fact that they cater to entrepreneurs is right in their name.

The New Mexico Finance Authority is a clearinghouse for connecting New Mexico businesses interested in working on government projects with financing.

How to apply for a small business loan

Fill out the 15-minute online application.

It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.

Receive matches.

See which credit cards you qualify for before choosing the one that best suits your business needs and offers the cash rewards you’re looking for.

Get funded.

Once you choose a card, you can get approved in as little as 7-10 days.

Apply Now

FAQ about Small Business Loans in New Mexico

Various state agencies came together to create the New Mexico Business Portal, a powerful online one-stop resource for any company operating in the Land of Enchantment. SCORE, which is partnered with the SBA, has a notable presence in New Mexico and provides trainings, a learning library, and networking opportunities. You should also get in touch with New Mexico’s Small Business Development Center (SBDC), which has offices throughout the state and can help you plan and grow your company.


If you are impacted by a natural or economic disaster, you should see if you qualify for grants from the All Together NM Fund, a granting initiative that started in the wake of the pandemic and continues in its aftermath. If you are located in the Albuquerque area, the City of Albuquerque Economic Development Department maintains a running list of grants and other incentives for small businesses in the metropolitan region. As a small business, you should consistently check for potential grant opportunities, especially if your business works in childcare, education, tourism, or technology.


To secure funding, you first need to structure your company—for instance, as a sole proprietorship, corporation, or limited liability company (LLC). Depending on your corporate structure, you may need to register with the Secretary of State. In New Mexico, you’ll also need a license to work in some industries. Once your company is legally set up, you can begin to apply for loans. To qualify for loans, most lenders will want you to have a good personal credit score and provide accurate financial documentation. Some financiers will also require you to show them your business plan.

The right loan for your New Mexico business is one that will assist your company in growing over time, but also won’t squeeze your cash flow due to repayments. A business line of credit, for example, might be best structured to help a tourism business deal with the uneven cash flow that comes with seasonality. On the other hand, a term loan might work best if you run a chain of fast-food restaurants that requires a large outlay of cash up front.

A New Mexico business loan can help your business immensely by allowing you to acquire amazing talent, open new locations, obtain necessary equipment, and launch a tantalizing marketing campaign.

Quickly compare financing options from multiple funders.

Applying is free and won’t impact your credit

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