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Business Loans

WESST Small Business Loans Include a Bonus: Support to Help You Succeed

One of the obstacles most commonly reported by entrepreneurs — particularly first-time business owners — is the difficulty obtaining capital to start or expand a business. WESST helps to fill this gap by providing small business loans for women and other entrepreneurs who encounter this difficulty. As a microlender, we specialize in financing viable businesses that don’t meet the criteria of banks or other traditional lenders.

Our small business financial services offer several advantages over other micro-lending operations in the state:

  • WESST is one of only three select micro-lenders in New Mexico that can provide an SBA small business loan.
  • Our loan program focuses on providing critical business consulting, training, technical assistance and other support services to our loan recipients, in order to maximize their chances of success.
  • Our small business loan rates and fees are extremely competitive, and often the lowest available.

The value of the support services that we provide to our loan recipients is evidenced by the extremely low default rate on our small business loans.

Our loan platform includes the following programs:

WESST Loan Fund Program – Loans to help facilitate either the start-up or growth of small businesses that are unable to obtain financing through traditional loan sources. View the Eligibility Requirements for a WESST loan.

Technology Toolkit Loan Program – Loans to purchase computer related software, computer devices and/or to cover the costs associated with setting up or enhancing a business website, low interest rate and accelerated application process. More information on Technology Toolkit loans >>

Small Loan Program – Business loans of up to $500 for the purpose of building a positive credit history or to improve an existing score.

To start a loan inquiry process, fill out our Small Business Loan Inquiry. Also, review our Training section which describes our course offerings and a calendar of classes offered at each WESST regional office. 

Here are a few examples of our loans from January – October 2016:

Loan DescriptionRegion

$10,000 loan to purchase a truck for a start-up delivery service

Albuquerque

$22,000 to purchase equipment to expand capacity for a DJ entertainment business

Rio Rancho

$8,000 to purchase kitchen equipment for a mid-eastern grocery store that also makes bread

Albuquerque

$4,400 for computer equipment for a growing acupuncture and herb business

Albuquerque

$50,000 line of credit to a job placement/payroll company

Albuquerque

$2,800 to a salon for relocation expenses

Albuquerque

$18,000 to a salon for relocation expenses

Las Cruces

$2,000 to a salsa manufacturing company for marketing expenses

Albuquerque

$30,000 to a political refugee from Cuba to purchase a truck for a father/son owned delivery business.

Albuquerque

$15,000 to a food tour business for marketing and a new employee

Santa Fe

$150 to a handyman service to purchase tools

Albuquerque

$3,000 to a cleaning business to purchase equipment and supplies

Albuquerque

$3,500 to a therapy business for marketing

Rio Rancho

$1,500 to an insurance business for office equipment

Albuquerque

$150 to a salon for supplies

Albuquerque

$9,000 to a fitness studio for marketing and leasehold improvement

Albuquerque

$30,000 to a trucking company for an additional truck for their fleet

Albuquerque

$32,000 to a trucking company for a livestock trailer

Farmington

$500 to an auto sales business for office equipment

Albuquerque

$150 to a bookkeeping business for office supplies

Albuquerque

$150 to a grooming business for tools and supplies

Albuquerque

$20,000 to a therapy business for expansion

Albuquerque

$4,000 to a laundromat business for equipment

Albuquerque