Economic Development New Mexico opens applications to help small businesses access capital

ALBUQUERQUE — Twenty New Mexico small businesses will have the opportunity to receive $4,000 in free financial consulting and coaching services through Capital Connect, a bilingual program opening applications on November 2.  

Now in its third year, the initiative, managed through Economic Development New Mexico’s (EDNM) Infrastructure Program, is part of the State Small Business Credit Initiative (SSBCI) Technical Assistance Program, funded by the U.S. Department of the Treasury. Capital Connect is delivered in collaboration with Revby, a national consulting firm specializing in small business growth and capital readiness. 

“Accessing capital is one of the biggest challenges for small businesses, and we’re excited to help them prepare to take that next step,” said EDNM Infrastructure Program Manager Tanya M. Kelley. “Capital Connect gives business owners the opportunity to learn alongside their peers, build their financial knowledge and move forward with confidence.” 

Capital Connect is a free, three-month program that will support 20 for-profit small businesses across New Mexico with hands-on financial guidance, bilingual instruction and direct support to help participants become "capital ready." 

Participants will receive: 

• $4,000 in free consulting and coaching services 
• Group workshops and 1:1 financial technical assistance 
• Support with accounting, financial planning and loan application preparation 
• Instruction and peer learning in English and Spanish 

The program is fully bilingual and is designed for entrepreneurs with very small (fewer than ten employees), minority-owned, rural businesses that are ready to grow.  

Applications are open through November 27 on the Capital Connect webpage at edd.newmexico.gov/capital-connect. 

If you need assistance, please email infrastructure.program@edd.nm.gov.