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State Incentives (Community Side)

Category: Business

Community Development Revolving Loan Fund

  • Loan of up to $250,000.00 to assist in creating new jobs and prosperity
  • May be used for infrastructure improvements, acquisition of real property, construction, rehabilitation, public facilities, and other real property investment
  • The local government either makes an acquisition or improvements and the loan is repaid via a lease agreement with a business. After the loan is repaid, ownership of the property or equipment may be transferred to the business
  • Terms of the agreement are negotiable, but not to exceed 10 years
  • Interest rate is set at half the treasury bond equivalent rate
  • Private property may not benefit directly from this program

This information is © New Mexico Economic Development Department.