The Small Business Investment Corporation, d.b.a. New Mexico Small Business Investment Corporation (NMSBIC), was created in 2001 under the New Mexico Small Business Investment Act, NMSA 1978 §§58-29-1 et. seq., to help create new job opportunities throughout the State of New Mexico. The NMSBIC does this by providing equity and debt capital to small businesses through its Lending Program and Equity Program. The NMSBIC is funded by an allocation from the Severance Tax Permanent Fund, pursuant to NMSA 1978 §7-27-5.15.
Support for the New Mexico Small Business Investment Act is based on the recognition that small businesses are the backbone of the State’s economy, sustaining the local communities where they are located. Most new jobs in the State are generated by small businesses, and small firms represent the majority of business enterprises in New Mexico.
More than $47 million in investment funds has been made available to NMSBIC for use in its Lending and Equity Programs, directly benefiting the New Mexico small businesses that need capital for expansion or startup. More than 3,500 New Mexico businesses have received loans and more than 45 have received equity investments using NMSBIC funds. These investments have enabled New Mexico small businesses to finance expansion, create and retain jobs and increase the State’s economic livelihood.