Program addresses gap in accessibility of business resources in New Mexico
SANTA FE — The New Mexico Economic Development Department (EDD) is now accepting applications for Capital Connect, a new bilingual program designed to help small businesses overcome barriers to accessing capital.
The new program, led by EDD's Justice, Equity, Diversity & Inclusion Office (JEDI), is part of the State Small Business Credit Initiative (SSBCI) Technical Assistance Program, funded by the U.S. Department of the Treasury. The program is delivered in collaboration with Revby, a national consulting firm specializing in small business growth and capital readiness.
"Providing bilingual assistance helps us build trust and make sure every New Mexico entrepreneur feels supported along the way," said EDD Cabinet Secretary Rob Black. "When we take a dual-language approach, we open doors for businesses that might otherwise miss out on the resources the state offers."
Capital Connect is a free, three-month cohort that will support 20 for-profit small businesses across New Mexico with hands-on financial guidance, bilingual instruction and direct support to help participants become "capital ready." The program includes:
$4,000 in free consulting and coaching
Group workshops and 1:1 financial technical assistance
Help with accounting, financial planning, and loan application readiness
A fully bilingual cohort with instruction and peer learning in English and Spanish
The program is fully bilingual, from marketing to instruction, and is designed for entrepreneurs with very small (fewer than 10 employees), minority-owned, or rural businesses, who are ready to grow.
Applications are open through November 19 on the Capital Connect webpage at www.edd.newmexico.gov/capital-connect.
