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Small Business Loans in New Mexico

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Loan Overview

Loan Amount Up to $500,000
Estimated Repayment Terms 1-5 Years
Interest Rate Starting at 7%
Speed of Funding As fast as 1 day
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New Mexico is known for its tourism and natural resources. Santa Fe, Roswell and Carlsbad Caverns National Park alone draw many visitors.

If you operate a business in the state, how can you stand out from your competition and attract customers? Sometimes an increase in accessible capital is what you need.

Here are a few lenders you can turn to for small business loans in New Mexico, whether you want to invest in your company or need to cover an unexpected expense.

New Mexico’s Small Business Landscape

There are nearly 157,000 small businesses in New Mexico, employing roughly 339,700 workers, according to the Small Business Administration (SBA). More than 1,150 small businesses generated $3.5 billion in exports. 

Other industries through which small businesses contribute to the economy of the state include the following:

  • Health care and social assistance
  • Accommodation and food services
  • Construction
  • Retail
  • Professional, scientific and technical services

5 Banks for New Mexico Business Loans

1. U.S. Bank

This institution’s parent company, U.S. Bancorp, was listed among Forbes’ list of America’s Best Banks. It was also named a Best Bank in New Mexico by WalletHub and has an A+ rating with the BBB, where it’s also accredited.

If you’re in search of SBA New Mexico loans, you’ll find them here as well as the following:

  • Vehicle loans
  • Business credit cards
  • Business term loans
  • Equipment financing
  • Practice financing
  • Business line of credit
  • Commercial real estate loan
  • McDonald’s franchise financing

2. The Citizens Bank of Clovis

This financial institution has been in operation since 1916. Today it is accredited by the Better Business Bureau (BBB), where it’s earned an A+ rating.

  • Letters of credit
  • Small business loans
  • Agricultural loans
  • Capital asset lending
  • Revolving lines of credit
  • Investment property loans
  • Commercial real estate loans
  • Construction and land development loans

3. City Bank 

City Bank was named a best bank in New Mexico by WalletHub, where it earned a 4.3-star rating. 

Visit one of several branches throughout New Mexico, where you’ll find the following small business loan options: 

  • Lines of credit
  • Agricultural loans
  • Equipment loans
  • Working capital loans
  • Expansion loans
  • Real estate lending
  • Commercial term loans
  • Commercial construction loans
  • Commercial mortgages

4. Pioneer Bank 

Pioneer Bank is an SBA lender in New Mexico. It’s also A+ rated with the BBB and has a 4.6-star rating on WalletHub. Head to 1 of 11 branches in the state, where you’ll find the following small business loans:

  • Business term loans
  • Business credit cards
  • Business lines of credit
  • Commercial real estate loans
  • Commercial construction loans

5. New Mexico Bank & Trust

This bank is BBB-accredited and has the agency’s A+ rating. The institution’s holding company, Heartland Financial, was named No. 52 on Forbes’ America’s Best Banks list

In addition to offering SBA New Mexico loans from the 7(a) and 504 programs, this institution offers the following: 

  • Lines of credit
  • Business credit cards
  • Letters of credit
  • Term loans
  • Lease financing

Alternative Financing Options in New Mexico

While you could apply for a small business loan at one of the New Mexico banks listed above, banks aren’t the only lenders you can turn to. After all, getting approved for financing with a bank can wind up being a fairly challenging and lengthy process. 

Because of that, many small business owners are looking elsewhere. Alternative lenders are now available to fund entrepreneurs who may have been turned down elsewhere and whose credit score has seen better days. In exchange for more accessible applications and speedier funding options, applicants will see shorter repayment terms and higher interest rates. 

  • Applying for New Mexico Business Loans Through Fast Capital 360

    If you operate in the state of New Mexico, small business loans available through our lending partners include SBA loans, lines of credit and short-term loans. We also are able to offer you alternative financing products, such as merchant cash advances.

    Here’s how you can benefit: 


    Find out what you qualify for by completing our easy online application. It takes just a few minutes to get started. 

    Multiple Offers

    We partner with lenders throughout the U.S., which means your single application with us could return multiple funding offers.

    Expert Guidance

    A Fast Capital 360 Business Advisor will review the terms of your financing options with you and answer your questions about your offer. Choose the best option for your business.

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Additional Resources for New Mexico Entrepreneurs

In addition to the lending resources listed above, here are a few organizations in the state that offer assistance to entrepreneurs.


SCORE is a nationwide nonprofit sponsored in part by the SBA. Here, small business owners at all stages of their entrepreneurial journey can find support. Services range from free individualized business consulting to workshops and training opportunities. There’s also a wealth of information available in the online business library, including document templates, articles, videos and tools. 

Locations are available in these New Mexico cities:

  • Santa Fe
  • Albuquerque
  • Las Cruces  

Small Business Development Center

Small Business Development Centers also are available nationwide and are partially sponsored by the SBA. Small business owners can take advantage of business counseling, training programs. Entrepreneurs can also get help accessing capital, developing business plans, securing data systems, protecting intellectual property and more.

New Mexico Economic Development Department Business Resource Center

Get help planning, starting or growing your business. Research business programs and incentives for which you may qualify. Watch a previously recorded webinar or take part in a workshop or seminar on a topic of interest, such as taxes, funding sources, franchising, patents, technology and more. Access the organization’s resource directory too.

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