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.