Nonprofit Loans

• What types of loans do you offer? Who qualifies?

  • The Loan Fund offers financing options to Nonprofit, 501(c)3 organizations registered in the state of New Mexico.

    We DO finance:	We DON’T finance:
    Equipment	Consumer loans
    Inventory	Recent bankruptcies
    Building renovations	No collateral
    Operating capital
    Business expansions
    Bridge loans

• Does The Loan Fund offer grants to nonprofit organizations?

  • We do not offer grants; all our loans must be repaid.
    

• What are the typical loan terms, interest rates, and repayment plans?

The Loan Fund offers flexible payment schedules, and we review each loan application on a case-by-case basis. Our typical loan rates and terms are:

• Interest rates: 7-10%

• Amount: $5,000-$500,000. Higher dollar amounts available on case-by-case basis.

• Terms: 1 to 10 years for most; 15 years for real estate-based loans.

• Fees: $350 for loans up to $25,000, 1% of loan amount for loans over $25,000.
  

• How do I get started?

  • To talk with one of our loan officers, call us at (505) 243-3196 or fill out our Loan Inquiry Form. If you are ready, download our loan application.

  • Process:

    • Talk with us!

    • Fill out our application, available for download.

    • Gather and submit the appropriate documents- financials, business plan, etc.

    • Underwriting

    • Loan closing
      

• How long does it take to get a loan?

  • The length of the loan process varies based on when your loan officer receives the appropriate documentation. Typically, it takes three to four weeks to close the loan once all information is received.
    

• What if I want to pay more than my monthly payment? Pay off my loan early?

  • There is no penalty for either.
    

• I don’t think The Loan Fund is right for me. Where else can I go?

  • Check out these other great resources for nonprofits!