11/1/2011 - The Loan Fund

Faith &FUNDING
in New Mexico
two decades of grassroots economic development
“ I was very interested in poverty issues and was looking
for an activity that would further the mission of my
Congregation—to promote peace and justice. It was a
way to do something that was more than just putting a
band-aid on the problem. It was giving people a hand
up instead of a handout.”
DEDICATED TO
SISTER MARIE LUISA VASQUEZ
Loan Fund Board Member, 1990-2010
On Sunday, May 25, 1986, Sr. Marie Luisa Vasquez of
Why did she say “yes” in the first place? “I was very
the Adrian Dominican Sisters was among thousands
interested in poverty issues and was looking for an
of New Mexicans—and an estimated 6.5 million Amer-
activity that would further the mission of my Con-
icans—who participated in “Hands Across America.” It
gregation—to promote peace and justice,” she says
was both a charitable benefit and a publicity cam-
now. “It was a way to do something that was more
paign, during which the participants held hands in a
than just putting a band-aid on the problem. It was
human chain across the United States, that raised $34
giving people a hand up instead of a handout.”
million to fight hunger and homelessness and help
those in poverty. The dramatic event was the spark
And why did she stay on our Board for two decades?
that ignited formation of The Loan Fund.
Sr. Marie Luisa saw herself as a representative of the
interests of the Adrian Dominican Sisters, who gave
The New Mexico Conference of Churches applied for
us our first donation and an early loan that was re-
and received a grant from “Hands Across America”
newed in subsequent years. However, she was also
to form a committee to study how best to alleviate
“very convinced in the vision of The Loan Fund; we
poverty in our state. Sr. Marie Luisa, who was then
always did what we said we were going to do. We’ve
working as a pastoral assistant at Albuquerque’s
given a lot of people a start in doing something for
Church of the Risen Savior, served on that commit-
themselves and others: they start a business, and
tee. Its members traveled around New Mexico, con-
then they hire employees.”
sulting with a wide variety of people about the
possibility of setting up a non-profit loan fund to help
“We were becoming the truly public servant that we
low-income people start a business, or become suc-
were called to be.”
cessful with an existing enterprise.
We thank you, Sr. Marie Luisa, for your vision, your
When it was clear that the idea was indeed feasible,
steadfastness, your dedication and your guidance
The Loan Fund was organized and Sr. Marie Luisa was
over your two decades of service. You helped us
among several committee members who were invited
remain ever mindful that everything we do must serve
to serve on our first Board of Directors. She remained
the people that The Loan Fund was called to serve
on our Board until she retired two decades later.
in 1989.
Among the many who have worked to improve life in New Mexico
was a group of dedicated people of faith associated with the New
Mexico Conference of Churches. A special task force had been
meeting regularly on economic disparities since 1987, when New
Mexico was ranked Number One in poverty in the United States.
Inspired by a vision of ending indigence in our state, they established
The Loan Fund—and several other non-profit organizations—
in 1989.
The Loan Fund is the
Two decades later, we feel privileged to bring you a visual record of The Loan
Fund’s impact over 20 years of lending, which acknowledges the rich and historical presence we have had in shaping today’s New Mexico.
Loan Fund. Since
most experienced
alternative lender in
New Mexico. We are
a Small Business
Administration micro
lender and manage
Bernalillo County’s
$1 million Revolving
1989, we’ve helped
hundreds of good
people learn, grow,
As you view this information, you will very likely recognize friends, relatives, coworkers or colleagues who have been impacted by our lending, or who have actually worked with us to make New Mexico a better place.
and succeed—
creating sustainable
businesses and non-
How can we account for this remarkable record of sustainability? The answer is
that these organizations—including The Loan Fund—have not strayed from their
core missions. And based upon the current economic situation in this country,
our own mission has never been more important than it is today.
profits and thousands
of jobs. We pride ourselves on the diversity
of our clients—63% of
Since the economic “tsunami” of 2007, which included a Wall Street melt-down,
denial of credit and steep reductions in return on investments, The Loan Fund
has taken on a more prominent role of “financial doctor” and “economic shock absorber” for small businesses and non-profits in our state. Because our lending helps
create and preserve jobs for hard-working New Mexicans, we enhance the economic status of the communities in which our clients live.
our loans have been
to minority-owned
businesses and 47%
have been to womenowned businesses.
Our goal: diverse,
With a cumulative total over two decades of more than $43 million in loans to
small businesses and non-profits, and a loan repayment rate of 97.5%, we have
helped create or preserve over 6,000 badly-needed jobs in New Mexico. We hope
and expect to continue acting as the “public servant” that founding Board member Sister Marie Luisa Vasquez visualized in 1989.
F. Leroy Pacheco
President & CEO
James A. Byrd
Board Chair
thriving communities
throughout New
Mexico, including
Indian country!
ORGANIZATIONS CREATED BY
NEW MEXICO CONFERENCE OF CHURCHES IN 1989
The New Mexico Conference of Churches created several
non-profit organizations in 1989, all of which were tasked to play
varying roles in alleviating poverty in New Mexico. Remarkably,
two decades later, all of these organizations are still in operation:
• NM Community Development Loan Fund – Alternative Lender
un
NM Comm
lopme
ity Deve
• Second Harvest – Food Bank
Fund
nt Loan
• Habitat for Humanity – Affordable housing
• Encino Houses – Senior housing
ses
o Hou
Encin
• The Storehouse – Free food and clothing
• Samaritan Counseling Center – Faith-based counseling
THE LOAN FUND’S FIRST SIX LOANS IN 1990
Given the difficult economic conditions in New Mexico, it is also
remarkable that five out of our six first clients are still in operation:
• Peacecraft, Albuquerque (still operating)
• Tierra Madre Organic Garden, Ojo Caliente
• Santa Fe Housing Authority (still operating)
• Working Classroom, Albuquerque (still operating)
• Women’s Housing Coalition, Albuquerque (still operating)
Tierra
M
ft
Peacecra
Santa Fe
Housing
• Tierra del Sol Housing Corp, Las Cruces (still operating)
adre O
rganic
Garde
n
Authority
alition
using Co
Ho
Women’s
Work
in
g Cla
ssroo
m
Tierra
d
el Sol
Housin
g Corp
1990–1995
Albuquerque
Southwest Creations Collaborative
Empowering Women to End Poverty
One of The Loan Fund’s oldest con-
Over time, SCC has added such
tinuing clients, Southwest Creations
services as on-site childcare, Eng-
Collaborative is a not-for-profit con-
lish, citizenship, computer and GED
tract manufacturing business for
classes, and healthcare support. A
wholesale and retail customers.
new program, Buena Fe, encour-
Founder Susan Matteucci has an
ages parents to become involved
ambitious social mission for SCC: to
with their children’s schools.
end poverty for immigrant and lowincome women and their families
The Loan Fund has been a consis-
Buena Fe program. Her daughters
and create intergenerational wealth.
tent partner, providing loans and
became outstanding students; the
Employees have opportunities to
credit for expansion. With 25 em-
oldest is in college, studying nuclear
learn such marketable skills as
ployees, SCC’s recent annual rev-
engineering.
sewing, embroidery, packaging and
enues are $850,000.
tile work—and receive better than a
“Being here has changed my life
living wage. Overall, about 200 fam-
Flora “Flor” Lopez is a shining ex-
100%,” says Flor. “I always tell the
ilies have benefited.
ample of SCC success. Married with
women who come to work here
two daughters, she had excellent
that they can learn new skills and
accounting skills but knew very little
learn that they are equal to men.”
English and was employed in a job
Flor Lopez and Susan Matteucci
that didn’t pay the bills. At SCC, she
“We would not exist if The Loan
stayed connected to her children—
Fund did not help support us,”
cared for in the company’s day care
Susan Matteucci says. “Anytime we
center—until they were old enough
needed money to grow, The Loan
to start elementary school. Early on,
Fund has stepped up to the plate.
Flor became a department man-
The Loan Fund really ‘puts its
ager, acquiring valuable leadership
money where its mouth is’ when it
skills. Recently, she has assumed
comes to lending for change and
new responsibilities to manage the
working with non-profits.”
1987… The New Mexico Conference of Churches brings together a diverse group of individuals to discuss the serious issue of
poverty in New Mexico.
1989… The New Mexico Community Development Loan Fund is incorporated, receives its first investment from the Adrian
Dominican Sisters, and hires its first Executive Director.
1990… The first six loans are made; the very first one is given to Tierra Madre Organic Garden for $3,000.
Capitalization reaches $350,000.
1991… St. Elizabeth’s Shelter receives The Loan Fund’s first loan to benefit the homeless.
1992… Farmer’s Home Administration awards a $291,000 grant for rural development.
1993… The Loan Fund hires its first full-time Loan Officer and the loan pool reaches $1 million.
1996–2000
Bernalillo County/South Valley
Dr. Andru Ziwasimon Zeller (r)
Rio Grande Community Development Corporation:
The Voice of an Underserved Community
Based in Bernalillo County’s unin-
In 2000, The Loan Fund granted
When Make My Lunch outgrew the
corporated South Valley, the non-
RGCDC a $110,000 loan to purchase
incubator in just under a year and
profit Rio Grande CDC was created
and renovate a 17-year-old building
she realized that she needed a mo-
in 1986 to articulate community con-
for its headquarters. In 2005, when
bile unit, Callie was referred to The
cerns about the neglect of the area’s
RGCDC moved its offices into the
Loan Fund and we lent her $12,000
infrastructure,
business incubator, Andru rented
to purchase a truck.
environment,
and
economic development.
the space for his new non-profit
medical clinic, Casa de Salud.
The results? Make My Lunch is now
part of a new venture, Curbside Cui-
Julie Stephens and Tony Gallegos
Because the clinic charges only $30
sine. Small, independent, mobile
per office visit while providing ex-
food vendors set up shop every
cellent care, the patient load topped
Wednesday behind a popular Asian
11,000 in 2010. The numbers are pro-
market, offering their products to a
jected to increase dramatically in
broader public. “Buying the truck
the years ahead; therefore Andru is
was the best thing that could have
leading a multi-year $900,000 cam-
happened for my business,” Callie
paign to enlarge the clinic at its cur-
says. “The Loan Fund helped me
Under the leadership of its present
rent location. He is also fostering
get to the next level.”
and former executive directors, Tony
new
Gallegos and Julie Stephens, two
space to other health practitioners.
businesses
by
sub-leasing
major initiatives have brought health
“We have a number of clients in
common with The Loan Fund,” Tony
care to a medically uninsured popu-
Callie Tolman’s fledgling catering
Gallegos points out, “and we are
lation and created a 15,000 sq-ft
enterprise, Make My Lunch, received
discussing ways to get even closer
business incubator, the South Valley
a boost from the business incuba-
programmatically.”
Economic
Center.
tor’s 3,500 sq-ft. commercial kit-
These successes are linked to two
Development
chen, which has given dozens of
entrepreneurs, Dr. Andru Ziwasimon
start-up food entrepreneurs a cost-
Zeller and Callie Tolman.
effective way to test market their
cooking skills and culinary creations.
Callie Tolman (l)
1993… The Loan Fund takes the lead in Albuquerque’s Pocket of Poverty Community Reinvestment Act Campaign.
First Security and Norwest Banks commit $5.5 million for lending in low-income communities.
1994… A three-year grant from the Small Business Administration allows for the beginning of a pre-loan counseling program
for small business.
Loan capitalization exceeds $1.4 million.
1995… Internal Technical Assistance Department is established.
A $600,000 Urban Development Action Grant from the City of Albuquerque for lending in the Pocket of
Poverty area and $1 million in Program Related Investment funds from the Ford Foundation are received.
1996… A joint branch office with WESST is opened in Roswell.
1996–2000
Sunland Park
Tierra Madre Land Trust:
Affordable Straw-Bale Homes (& More)
in a ‘Colonias’ Community
Augustin and Ramona Ruiz
Three Catholic nuns working in
15,000. The federal government
much of the labor. Tierra Madre now
southern New Mexico envisioned
designated it a colonias community
boasts 38 homes.
building a community with afford-
because of its proximity to the U.S.-
able, environmentally sustainable
Mexico border, low income levels
Retirees Augustin and Ramona Ruiz
housing for low-income people.
and wages, environmental prob-
are two examples of how lives have
When Sisters Joan Brown, Jean
lems, and little access to affordable
been changed at Tierra Madre.
Miller and Jean Durel founded Tierra
housing.
When the couple first arrived, they
were coping with serious health
Madre Land Trust in Sunland Park
with 18 local families in 1995, they
Undeterred by such challenges,
problems. Through a jobs program
translated this vision into reality and
Tierra Madre first leased 20 acres
sponsored by Goodwill Industries,
changed many people’s lives for
from the New Mexico State Land Of-
Augustin became the gardener and
the better.
fice. Sunland Park subsequently an-
Ramona the maintenance person.
nexed the property to provide ac-
With renewed purpose, their health
cess to its sewer and water systems.
has dramatically improved.
Residents constructed a 6,500 sq-ft.
playground. In 1998, The Loan Fund
What does the future hold? The Sis-
converted a $500,000 low-interest
ters have retired, and Executive Di-
loan from Catholic Health Initiative
rector Cece Rodriguez envisions
into a line of credit, allowing Tierra
Tierra Madre becoming a self-sus-
Madre to build 30, 1,536 sq-ft. straw-
taining enterprise—with residents
bale homes (straw bales are the in-
eventually taking over all manage-
sulation of choice due to their very
ment functions. The Loan Fund has
high energy efficiency).
consistently been a “good friend,”
Cece says. “They have always sup-
Tierra Madre, first wall.
were
ported us when we needed help—
Across the Rio Grande from El Paso,
$24,000 per unit ($70,000 cur-
almost like the big brother looking
Sunland Park has a population of
rently) because residents contribute
after the little brother.”
Construction
costs
then
1996… $950,000 in loans are made to 39 clients.
1997… The first year in which total annual lending exceeds $1 million.
1998… A $300,000 grant from Hitachi Corp. funds the Rural Livelihoods Initiative, a partnership with the New Mexico
Community Foundation.
1999… Capitalization surpasses $7.3 million.
2000… Total lending reaches almost $3 million.
A listening session with Treasury Secretary, Lawrence Summers, and Housing and Urban Development Secretary,
Andrew Cuomo, about barriers to lending in Native American communities, is hosted.
The first decade of lending results in cumulative 367 loans made, totaling more than $10.3 million, which have helped
to create or preserve 1,775 jobs in New Mexico.
2001–2005
Crownpoint
Holtsoi Trucking:
Success and Independence - One Mile at a Time
In 2003, Erwin Holtsoi was ready to
forum. “Cathy sat with us and lis-
early. When Erwin increased their
start his own trucking business from
tened carefully to what we needed,”
income by making longer hauls of
his home in Crownpoint, NM. Erwin
Marilynn remembers. “I explained to
lumber and rebar from Arizona, he
qualified for the Navajo preference
them that they would need a busi-
realized he needed a more reliable
contracts list to haul hay, corn, and
ness plan and a reliable cash flow
truck.
potatoes for NAPI, Navajo Agricul-
projection,” Cathy says.
In 2007 we provided a second loan
Marilynn, a Bu-
to buy the needed vehicle. “I’ll never
reau of Indian
forget that day when I went with
Affairs
case-
Erwin and Marilynn to the Peterbilt
had
dealership so that they could take
before
possession of their shiny red truck,”
prepared such
Cathy recalls. “The purchase made
material. Nev-
such a difference in their lives. They
ertheless, she
would no longer worry about Erwin
went
breaking down on the road.” In 2011,
worker,
never
to-
we awarded a third loan to facilitate
gether
what
buying a newer trailer for the truck.
Cathy
calls
and
Erwin and Marilynn Holtsoi with Loan Fund Loan Officer Cathy Sorenson.
home
put
tural Products Industry. All he
“one of the more thorough loan
The couple manages their business
needed was a truck and trailer – but
packages I’ve ever been given. They
well and continues to be successful.
how could the vehicles be financed?
had a very clear vision of what they
“They have such an outstanding
wanted to do and how to get there.”
work ethic, and have achieved a bal-
Erwin and his wife, Marilynn, proud
ance between business success and
parents of two young children,
In 2003 we awarded Erwin and Mar-
found the answer when they met
ilynn their first loan to purchase a
our Loan Officer, Cathy Sorenson,
pre-owned truck and flatbed trailer
“We never would have realized our
at a local small-business lending
to officially start their business.
dream without The Loan Fund,”
They paid the loan off six months
Marilynn asserts.
taking care of family,” Cathy says.
2001… A satellite office is opened in Gallup.
Native American initiatives begin. The Loan Fund, with $200,000, matches a $100,000 loan from Laguna Pueblo, to
make its first loan to a Laguna Pueblo member-owned enterprise, Turquoise Lady, in Albuquerque’s Old Town.
Technical Assistance services are expanded in southern New Mexico with Las Colonias Project and the Dream Team
Initiative, a two-year pilot program providing T.A. to non-profits.
15 loans for over $558,000 are made to non-profits.
2002… The U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund invests $1 million with The Loan Fund.
Bank of the West and Dakota Foundation become first-time investors.
The Loan Fund makes 79 loans totaling more than $2.78 million.
2001–2005
Albuquerque
Sawmill Community Land Trust:
An Old Industrial Area Becomes an Attractive,
Affordable Neighborhood
Judy Gallegos
Josie and Charlie Pflieger raised
Since 1999, Sawmill CLT, in partner-
with 62 rental units and 16 ground-
their three grandchildren here. Re-
ship with the City of Albuquerque,
level commercial spaces.
tiree Judy Gallegos found an active,
has been transforming 27-acres of
involved community here. “Here” is
abandoned, damaged land, the
Sawmill CLT’s relationships with res-
the Sawmill neighborhood, a former
grounds of a former lumber com-
idents, neighbors, city government,
industrial
Albu-
pany, into Arbolera de Vida (Or-
and with partner organizations and
querque’s Old Town. Under the
area
chard of Life), an inclusive, multi-
funders have been critical to its suc-
leadership of executive director
generational community. It cur-
cess. The Loan Fund has been an in-
Debbie O’Malley, and her successor,
rently boasts 85 homes of varying
valuable partner since 1998, ex–
former Loan Fund employee Connie
sizes; two apartment complexes,
tending over $1 million in financing
Chavez,
the Sawmill Lofts with 60 live/work
for operating capital, land acquisi-
units and Villa Nueva Senior Apart-
tion and real estate projects. In
ments with 46 units; and various
2007, Loan Fund staff participated
community amenities, including a
in the community’s one-day play-
playground, dog park, and plaza.
ground build with over 150 other
Future plans include a one-acre
volunteers. “Our relationship goes
community garden and commercial
beyond
development projects.
shared mission of self-reliance
the
north
non-profit
of
Sawmill
financing—it’s
about
a
and community control,” Connie
In 2004, with financing from The
Chavez notes.
Loan Fund, Sawmill CLT purchased
a 7-acre property neighboring Ar-
The Pfliegers and Judy Gallegos
bolera de Vida to further advance
cherish their community. “We know
Community Land Trust is develop-
the area’s revitalization. Construc-
each other pretty well,” Josie of-
ing an impressive array of afford-
tion on the first development phase
fers. “It’s a safe place.” Judy sums
able housing for low-and moderate-
of Sawmill Village began in 2010
it all up, saying, “…there’s no other
income families and supporting the
with The Artisan at Sawmill Village,
place like this.”
growth of a vibrant community.
a two-building, three-story complex
The Pflieger family
2003… The Loan Fund begins administering the Santa Fe Small Business Development Loan Fund.
Artisan Entrepreneurship Workshop Technical Assistance series begins at the Navajo Co-op in Thoreau, NM (and
runs for three years).
Since 1990, cumulative lending exceeds $16.5 million.
2004… New Mexico Small Business Investment Corporation (NMSBIC) approves its first investment with The Loan Fund of $1.5
million in loan capital.
U.S. Small Business Administration awards The Loan Fund a $150,000 grant to provide outreach and technical
assistance to two rural, underserved areas: the Colonias region in Doña Ana County and Native American communities.
Technical Assistance Department staff log 1,638 hours working with clients.
Under contract with the City of Albuquerque, the staff creates financial literacy curriculums related to Individual
Development Account (IDA) requirements for small business owners and consumers.
The Loan Fund 2010 Financial Summary
STATEMENT OF FINANCIAL POSITION
STATEMENT OF ACTIVITIES
ASSETS
OPERATING SUPPORT AND REVENUE
Cash and Cash Equivalents
$
Restricted Cash
Accounts Receivable
Grants and Contracts Receivable
Interest Receivable
Prepaid Expenses
Microenterprise Loans Receivable
4,117,689
614,848
238
211,924
51,470
6,684
10,734,534
(Net of Loan Loss Allowance of $564,975)
Building and Equipment
450,818
(Net of Accumulated Depreciation of $159,155)
Total Assets
$
16,188,205
LIABILITIES
Accounts Payable
$
11,227
Accrued Payroll Liabilities
68,340
Accrued Other Liabilities
1,508
Accrued Mission Partner Interest Payable 14,636
Deferred Revenue
376,000
Cash Held for Others
501,261
Secured Debt
8,468,828
Notes Payable
4,600,885
Total Liabilities
$
14,042,685
NET ASSETS
Unrestricted
Permanently Restricted
$
2,018,092
126,965
Total Net Assets
Total Liabilities and Net Assets
$
$
2,145,057
16,187,742
SUPPORT AND CONTRIBUTIONS
Unrestricted
Grants
$
14,850
541,957
Total Support and Contributions $
556,807
OPERATING REVENUE
Lending Program Interest
$
Other Lending Program Income
Investment Interest and Dividends
Other Revenue
Loan Recovery
790,022
86,638
38,717
2,732
18,704
Total Operating Revenue
Total Operating Support
and Revenue
$
936,813
$
1,493,620
Program Services
Fundraising
Supporting Services
$
912,275
114,842
235,098
Total Operating Expenses
Change in Net Assets
from Operations
$
1,262,215
$
231,405
EXPENSES
2010 SUPPORT
AND REVENUE
58.7 % Lending Income
36.3% Grants
2.5% Investment Income
1.3% Loan Recovery
1.0% Contributions
.2% Other Revenue
The Loan Fund Financials: 2005–2010
Loans Outstanding
Total Assets
Loan Interest Income
Total Income
Total Operating Expenses
2005
$5,600,000
$10,700,000
$400,245
$1,094,015
$1,290,441
FinancialMilestones
Milestones
Financial
2010
$11,500,000
$16,200,000
$867,659
$1,493,784
$1,262,379
Sustainability Rate*
100%
$20,000,000
$20,000,000
80%
$15,000,000
$15,000,000
60%
$10,000,000
$10,000,000
40%
$5,000,000
$5,000,000
20%
0
$0
0%
2005
2005
Loans
LoansOutstanding
Outstanding
2010
2010
2005 2006 2007 2008 2009 2010
Sustainability w / Investment Income
Sustainability w / o Investment Income
Total Assets
Total
Assets
*Sustainability Rate = (Loan Portfolio Income + Investment Income) /
Total Operating Expenses
Total Amount of Loans Booked
2.5%
vs. Net Writeoffs
(over two decades
of lending)
97.5%
ofof
TTotal
Total
otal Amount
A
Amount
Loans
Loans
L
oans Booked
Book
Booked
ed
Net Writeoffs
Net
W
Writeoffs
r eoffs
rit
21 Year Milestones:
• $43+ Million in Loans Made Since Inception
• $10.8 Million in Loans Outstanding
• $16.2 Million in Total Assets
• 97.5% Loan Repayment Rate
• 82% + Sustainability Rate
• 6,000+ Jobs Created and Preserved
• President & CEO of The Loan Fund, F. Leroy Pacheco, named:
Small Business Administration Financial Services Champion for 2011
• Minority Business Development Agency National Access to Capital Award for 2011
2006–2010
Santa Fe
Jalapeño’s Mexican Grill:
Mama Lucia’s Legacy
As a boy, Raul Aboytes helped his
to Santa Fe, married, began raising a
tract a broad cross-section of the
mother Lucia feed hungry cus-
family, and decided to improve his
community. Raul says his customers
tomers in her late-night, one-room
standard of living. Noticing that his
appreciate
restaurant in Querétaro, Mexico. Lit-
fellow immigrants flocked to Mexi-
recipes and the high-quality prod-
tle did he realize he would carry
can food carts stationed near the
ucts he uses. He consistently strives
Mama Lucia’s legacy to New Mexico.
airport, Raul looked for start-up
to improve his menu offerings, regu-
funding for one of his own. Another
larly traveling to Mexico to search
Mexican family referred him to us
for new ideas and recipes.
both
Mama
Lucia’s
in 2006.
The restaurant and the food cart
With our $15,000 loan, Raul pur-
employ six people (Raul’s wife,
chased a cart and started selling
Janet, also assists him), and he is
“something I really knew how to
clearly proud of his accomplish-
make and other people didn’t:”
ments. “We pay taxes. It makes me
tortas, a meat sandwich served on a
feel good that we are doing some-
crusty, oblong white sandwich roll.
thing for the economy. I’ll never be
rich, but I have things I never would
Raul used Mama Lucia’s meat mari-
have had.” He eventually hopes to
nade recipes, the tortas began “sell-
open a second food cart and an-
ing like crazy,” and he had to enlist
other restaurant.
his cousin to help. Inspired to open a
restaurant, he asked us again for as-
Raul is grateful to The Loan Fund for
sistance. Our second, $31,000 loan
supporting his dream of financial in-
in 2009 helped Raul pay off the first
dependence. “We were broke when
loan in full and launch Jalapeño’s.
they gave us the loans, and we’ve
Raul Aboytes
paid them back. Without them, we
Leaving home at age 18, Raul
Two local newspapers published fa-
worked in a variety of jobs, moved
vorable reviews, which helped at-
wouldn’t be here.”
2004… Participation in RUFES, an Aspen Institute program, which provides financial literacy training in rural
communities, begins.
2005… The Loan Fund makes 77 loans totaling $2.1 million.
Financial literacy training, with the Community Action Agency of Las Cruces, NM and small business training
workshops, with Navajo Nation Rural Business Development Organizations, are offered.
Three-year association with Empowerment Business Spirit, the Kellogg Foundation-funded outreach assistance
program to small businesses in northern New Mexico, begins.
2006… The Loan Fund becomes the Fiscal Agent for the STEPS program, supporting urban entrepreneurship in underserved
communities of Albuquerque.
2007… The official name is shortened to The Loan Fund.
2006–2010
Silver City
Millie’s Center:
Love and Care for the “Silver” Generation
84-year-old Margaret “Peg” Aker
cess. Beginning with a handful of
was in difficult straits after her hus-
clients, she built a second, handi-
band died in 2004: grieving and
capped-accessible bathroom to ac-
coping with diabetes, she was in-
commodate 16 residents; and now
creasingly unable to take care of
accepts Medicaid patients and “re-
herself, had no children, and her only
spite” clients who come for the day.
nearby relatives were an older sister
and a niece.
People are attracted by the warm
environment where the residents
Fortunately, Peg was referred to Mil-
eat all their meals together, cele-
lie’s Center, an assisted living facility
brate holidays and birthdays as a
in Silver City. Owned by retired Ari-
group (along with their families),
zona attorney and judge Carley
and keep busy with a broad range of
Preusch, Millie’s was named for the
activities both inside the home and
generous and charitable Madame of
out in the community.
a brothel who—ironically—had once
Carley Preusch and Peg Aker
loan for $56,000 allowed Carley to
been married to Peg’s husband!
Peg Aker’s life has certainly turned
purchase half a city block next to
around. “Carley’s great,” says Peg.
Millie’s. “We were already using it as
Carley had moved to the pictur-
“She’s good to everybody here. I
a garden and walkway. I want to
esque mining town to be near her
wouldn’t want to be anyplace else.”
make a nice park for our residents.”
led her to purchase an assisted
Carley has obtained two loans from
Carley’s future plans include creat-
living facility that was going out
us. The first was for $177,000 to pay
ing both a new assisted living facility
of business.
off an interest-only mortgage on the
on the property and an independent
property. “We had exhausted all
living facility nearby, “so that people
Carley knew nothing about the field
local resources. The Loan Fund pro-
can age in place.” We have no doubt
initially, but has made Millie’s a suc-
vided invaluable help.” Our second
that she will realize her vision.
son. A complex set of circumstances
2007… A Memorandum of Understanding is signed to mentor and provide training for the founders of the Bik’eh Hozho loan
program for Navajo-owned businesses in Tuba City, Arizona.
The City of Santa Fe renews the contract with The Loan Fund to manage the Santa Fe Small Business Development Loan
Fund. To date, 48 loans totaling over $850,000 are made, creating and retaining 169 jobs in the Santa Fe area.
The New Mexico SBIC extends an additional $2 million in capital, bringing the total to $3.5 million for lending in
New Mexico.
2008… Another $2 million from New Mexico SBIC is received, bringing their total commitment to over $5 million and making
The Loan Fund their single largest alternative lending partner in the state.
The Loan Fund’s articles, distributed by Finance New Mexico, are published in over 30 newspapers throughout the state
and provide valuable free advice to entrepreneurs and small businesses on a variety of topics.
The Loan Fund serves as co-host for the Opportunity Finance Network’s annual conference in Albuquerque.
2006–2010
Quemado
Quemado Rito Convenience Store:
Tommy Padilla
Vital Services in an Isolated Rural Community
Tommy Padilla does not have a lot
In recent years, however, Tommy
lot, and installed an ATM machine.
of time on his hands. He works full
noticed that people were avoiding
But he needed to make a substan-
time for the state Livestock Board
the interstates “due to the heavy
tial additional investment to pur-
and owns a 2,000-acre cattle ranch
volume of truck traffic and high
chase gas pumps and create a
near Quemado (population 781).
speeds. Our traffic counts now are
well-stocked, spacious and attrac-
But he saw an opportunity to pro-
the same or a little more than when
tive 3,000 sq-ft. convenience store.
vide a needed service to the travel-
I-40 was built.” He calculated that
That’s when The Loan Fund became
ing public.
the growth in traffic meant a
involved.
We awarded Tommy a $350,000
SBA 504 loan, which is specifically
designed to help a business purchase buildings and equipment. It
was one of the first (and very successful) 504 loans we made. Now
employing five people, Quemado
Rito grossed $1.8 million in its first
18 months of operation and serves
Quemado is on Route 60 in rural
greater demand for motorist serv-
an average of 250-450 people each
western New Mexico. For decades,
ices. The nearest gas station with a
day. The ATM machine alone re-
the community supported five gas
convenience store is 30 miles away.
ceives 400-600 “hits” each month.
ing travelers heading to and from
With $150,000 of his own money,
Tommy feels he’s made a positive
Arizona and California. But after
Tommy
and
impact. “People are feeling better
east-west Interstates 10 and 40
cleaned an abandoned property
about Quemado. But I didn’t do it
were built in the 1960s, Quemado
with an existing building, hooked up
all by myself.” He credits his family
experienced a slow decline.
power, water and sewer lines, laid
and The Loan Fund: “They take on
down a cement pad for a parking
riskier loans, including start-ups.”
stations and four restaurants, servbought,
cleared
2009… The Loan Fund makes 85 loans totaling almost $6.5 million.
In partnership with the University of New Mexico’s Bureau of Business and Economic Research, a socio-economic
market survey and measurement tool designed to address the business needs of micro-entrepreneurs in rural
New Mexico is produced. Tool is made possible with $68,069 CDFI grant.
A pilot project to test new technical assistance services and delivery models in northern New Mexico is developed
under a U.S.D.A. Rural Business Grant.
The 20-year anniversary celebration is held at the Albuquerque Museum, where the creation of the Sister Maria Luisa
Fund is announced.
New Mexico SBIC approves a $7.5 million line of credit. Five-year partnership with the agency has resulted in
$13 million in cumulative loans to almost 300 businesses statewide.
Since 1989, 1,000 loans are made throughout New Mexico totaling $34 million, with 5,188 jobs created or
preserved.
2006–2010
Santa Fe
YMCA of Central New Mexico:
A Continuing Mission to Serve Famiies & Children
The YMCA was founded in 1844 to
tivities and summer camps in four
schools, while 46 kids (18 months to
put the Christian principles of re-
communities, including Santa Fe
pre-kindergarten) are enrolled in the
spect, honesty, caring and responsi-
and Albuquerque.
pre-school program. The “Y’” is al-
bility into practice, while working to
ready considering more expansion.
strengthen the spirit, mind and body
In recent years, the Santa Fe branch
of its members. Over time, its pro-
had been sharing space with an-
The staff of 14 works with the
grams have expanded steadily to
other non-profit, providing essential
youngsters in an environment filled
meet social and community needs.
after-school child care services in
with books, toys, games and com-
Today, it is the largest provider of
three elementary schools. As the
puters. Children are encouraged to
child care services in the U.S.—and
needs of the community grew, the
spend as much time outside as pos-
in our state—and is open to people
“Y’s” leaders realized that Santa Fe
sible to develop outdoor playing
of all faiths.
needed a separate physical space.
skills. Parents are integrated into
Starting with $110,000
their children’s learning experiences.
of their own funds, in
2009 they asked The
Finances are never a barrier to par-
Loan Fund for an addi-
ticipation. “Unlike other day care
tional $580,000 for
providers, we provide financial sup-
capacity building: to
port, up to 50 percent of day care
purchase and furnish a
fees,”
new 5,000 sq-ft. pre-
Nakashima says.
Executive
Director
Doug
school.
Santa Fe families are clearly the
school
beneficiaries. “We could not have
The YMCA of Central New Mexico
opened, the demand for children’s
After
the
done this without The Loan Fund
opened in 1915. In addition to child
services increased. Currently, about
and their belief in the YMCA and
care, it offers extensive programs in
91 youngsters are participating in
our mission,” Doug adds.
sports, health and fitness, family ac-
the after-school program in five
2010… Since 1990, over 1,300 loans are made throughout New Mexico totaling more than $41.5 million, with 6,000 jobs
created or preserved.
Loan portfolio tops $11 million, and cumulative lending reaches $41.5 million.
The Loan Fund becomes the Small Business Administration’s newest micro-lender in New Mexico, receiving a first-ever
$750,000 CDFI special award to increase lending to small business.
The Loan Fund begins managing Bernalillo County’s $1 million Revolving Loan Fund, created with $500,000
contributions both from the County and from The Loan Fund.
The Loan Fund begins making SBA 504 loans to small businesses so that they may purchase fixed assets, such as real
estate or equipment.
2011… Cumulative lending exceeds $43 million.
Mission Partners
1989–2011
We are grateful to the many foundations, government agencies, banks, faith-based organizations and
individual donors that have invested in our organization. Their generosity has provided us with funding for lending and credit over the past two decades. We could not have exceeded a cumulative loan
total of $43 million without their continuing faith in us and our work.
-A-
Linda Berkel
Century Bank
Annie Abbott
Bernalillo County
Arcie Chapa/KNME
David Abeyta
Ann Beyke
Charitable Gift Fund
Adobe Doors & Cabinets
Richard Bianchi
Robert S. Chavez
Adorers of the Blood of Christ
Paul L. & Ellen Biderman
Sonya K. Chavez
Adrian Dominican Sisters
Faye Blake
Robert & Teresa Chavez
The AKUA Group
The Blossom Fund
City of Albuquerque
Jane S. Blume/
Desert Sky Communications
Chavez-Grieves
Consulting Engineers, Inc.
Albuquerque Economic
Development, Inc.
Sr. Irene Chrusciel, O.P.
Mr. & Mrs. William Bonds
Citibank
Algo Nativo Farm
Boston Community Foundation
William T. Clarke, Jr.
David Allen
Jane Bradley
Allstate Foundation
Michelle Breitner
Robin Collier
& Los Ojos Handweavers
Donna Altschuler
Dr. Harold & Norma Brown
Communities at Work Fund
American Indian
Chamber of Commerce of NM
John R. Brown
Commty. Fdn. of Greater New Haven
John & Carol Brown
Community Reinvestment Fund
America’s Car Donation
Charities Center
Sam & Marilyn Brownstein
Concilio Campesino del Sudoeste
Doreen F. Bunting
Cong. of the Humility of Mary
Doret Burnett & Meridyth Pettis
Kathleen Connors & Chuck Dowdy
J.B. Hunt Burress
Mary & Tom Cooley
S. Buttery & G. Sheff
Angela Cornell
James Byrd
Corp. for Enterprise Development
Archdiocese of Santa Fe
AMREP Southwest, Inc.
Susan Andreini
Alan & Nora Andrew
Joan Archibeque
Margaret Covert & Brian Eberman
Bonnie Arias
CR Alternative Trust
Bradford Armstrong & Julie Dolin
-C-
Michael Croom
Aspen Institute
Darien Cabral
John & Wardene Crowley
Assn. for Enterprise Development
Calvert Funds
Anasha and Rolalinda Cummings
Atkinson & Co., Ltd.
Candelaria & Associates
Pam Carpenter
-D-
-B-
Bruno & Jo Ann Carrar
Phil Dahl-Bredine
Sam & Ethel Ballen–La Fonda Hotel
John Carter
The Dakota Foundation
Bank of Albuquerque
Karyn Castillo
Luci Dawson
Bank of America
Catholic Campaign
for Human Development
Norman Dawson
Bank of America Foundation
Bank of the West
Banyan Tree International NM
Catholic Healthcare West
Catholic Health Initiatives
Basilian Fathers of Toronto
Catholic Society of Religious
and Literary Education
Gail Zander Barlow
Catalysts for Change
Max & Sandra Bartlett
Center for Action and Contemplation
Steve Becerra
Central & Northern NM
Combined Federal Campaign
Greg Bemis, Jr. & Ellen Bemis
Diocese of Las Cruces
Dominican Sisters of Springfield
Sanjiv Doreswamy
Rob Downey
Dr. Inkin’stein
DSRM National Bank
Teresa A. Dubuque
Kat Duff
-E-
Ghost Ranch Conference Center
W. Sterling & Ann Dudley Edwards
Ann Willis Glickman
Edith D. Homans Family Trust
Investment Management
Enchantment Land Certified
Development Corporation
Raymond & Patsy Goddy
Home Education Livelihood Program
Stephen Goldin,
Institute for Regional Education
Mary Kay Hopkins
Escuela del Sol Montessori School
Donna Estes
Donald & Lorraine Goldman
Henry and Bonney Hughes
Evangelical Lutheran Church in America
Joe Gonzales
Sister Eileen Hussey, O.P.
Justin Horwitz
Robert Gorham II
-F-
Madeline Gotkowitz
-I-
Fannie Mae Foundation
Helen Grace
Immaculate Heart of Mary Sisters
Farmers Home Administration
Mary Grana
Tova Indritz
Norman Feldman
Grand Rapids Dominican Sisters
Intel Corporation
Edna L. Fields
Greater ABQ Housing Partnership
Claudia Isaac
First Financial
Robert Griego
First National Bank in Albuquerque
Rod & Judith Groves
-J-
First National Bank of Santa Fe
Guggenheim Foundation
Sr. Eileen Jaramillo
First Security Bank
E. Gurule
Florence Jenks/Flo’s Delicious Food
Deidre M. Firth
Jose Elevi Gurule
Jewish Community Council
of Northern New Mexico
Mary J. Fitzgerald
-H-
Jewish Community Foundation
Tom and Anne Fitzpatrick
Hanging Arrow Arts & Crafts
Jane Jodeit
Russell Foddrill
Thomasina & Dane Hannum
Ben & Rolanda Johnson
The Ford Foundation
Allegra A. Hanson
Retta Johnson
Valerie & Wallace Ford
Leo & Cynthia Harris
Franciscan Sisters of Mary
Haymark Peoples Fund
-K-
Lynn S. Freeman
Hearst Foundation
Karuna Trust
Alexandra Freidus
Richard Albert Heartman
Mark Katzman
Jeanne Frey
Victorea Heartman & Spirit Players
Carol & Edwin Kemp
Peter Froning
David Henkel
Keshet Dance Company
The Frost Foundation, Ltd.
F.B. Heron Foundation
Carla Kleefeld
Veronica Frost
Dolores Herrera, San Jose Community
Awareness Council
Dan Koleski
Edward Fitzgerald
Funders Collaborative
Funding Exchange Endowment
Paul & Ruth Kovnat
James Herrera
Adrian Hesselden
-L-
David Hicks
Suzanne LaFetra
Kay Hicks
La Frontera Mission Group
Kate Hildebrand & Ric Richardson
Laguna Pueblo
-G-
Hugh Hinojosa
Linda Larson
Vangie & Herman Gabaldon
Ronald W. Hinson
Mark Lautman
Gadfly Trust
Hispanics in Philanthropy
Marta Jo Lawrence Trust
Sr. Bernice Garcia
Hitachi Corporation
National Council of La Raza
Bill Garcia
The Hitachi Foundation
Joan and John Leahigh
Connie Z. Garcia
Art Holyan
Antonio Ledeyma
Shae Garwood and Ethan Blue
Dee Homans
The LEF Foundation
Sarah Crowley Geisler
Helenty Homans
Denise Lekowski
Max Gethner
Rick Homans
Bruce & Elisheva Levin
Funding Exchange Pooled Fund
Thomas R. Funk/
Gallup Artificial Limb & Brace Co.
Mission Partners
1989–2011 continued
Marcia Levine
Joseph R. Montoya
CoYoTe Phoenix
Pranava Levine
Jose A. Moreno
John Picaro
Max and Anna Levinson Foundation
Derry Moritz & Charles Shepard
Mark Pinsky
Levi Strauss Foundation
Win Mott
Tom Plunkett
Linda L. Lillow/Triple L, Ink
Virginia Mudd
Sandra Polishuk
Ann Lockhart & Edward Crocker
Anna Muller, NEDA Business Consultants
Presbyterian Church (U.S.A.) Foundation
Logic Dreams Productions
Merry Muraskin
Presbyterian Synod of the Southwest
London Frontier Theatre Company
Project Share, Inc.
Mildred Lopez
-N-
David & Nancy Provost
Loretto Literacy & Benevolent Institution
National Association of
Community Development Loan Funds
PNM
Wolcott & Coolidge Loring
Los Alamos National Bank
National Community Capital Association
Los Alamos
National Laboratory Foundation
National Council of the
Churches of Christ in the USA
Marvin & Miquela Lozano
National Rural Funders Collaborative
John Lucero
NationsBank
Stan Lucero
NationsBank
Community Development Corporation
Angie Ludi & Women’s Housing Coalition
Dan Puccetti
-QQuesta Petroleum, Inc.
-RCarol Radosevich & the PNM Foundation
Needmor Fund
Ramah Navajo Weavers Association
New Farms
Bishop Ricardo Ramirez
N.M. Community College SBDC
Floyd & Orma Ratliff
N.M. Community Foundation
RDFC
N.M. Conference of Churches
Cassandra Reid
N.M. Housing Alliance
Re-visioning New Mexico
N.M. Mortgage Finance Authority
Lee Reynis & David Stryker
N.M. Small Business
Investment Corporation
Alice Reynolds
Chandra Manning
Frank V. & Kathleen M. Manning
N.M. Women’s Foundation
Helen Manning
Agnes Noonan
Teresa Richlee-Sachs/
New Mexico’s Own, Inc.
Daniel Martinez
Dr. Guillermina Nunez & Alan Wright
Pam Riley & Mark Drexel
Edward Lujan & the Manuel Lujan Agency
-MMackie, Reid & Company, PA
James & Yvonne Maestas
Patrick K. Malone
Mr. & Mrs. S. Cooper Malone
Jake & Edna Martinez
Randy Rice
Cole Roberts
Juan J. & Gabriela Martinez
-O-
Susan Shawn Roberts Trust
J.V. & Cecelia Martinez
Vickie Oldman
Aida Rodriguez
Victor & Judith Martinez
Old Smokey Express
Althea Rodriguez
Matrix Capital Bank
Debbie & Mike O’Malley
Mary Teresa Rogers
Susan Matteucci & Michael Loftin
Eugene Ortega & HELP
Harry Rogoff & Laurie Kauffman
Marian Matthews
Jerry Ortiz y Pino
Grace Ann Rosile & David M. Boje
McCune Charitable Foundation
Russ & Sandra L. Osterman
Patricia Ross
Vickie McLellan
Our Lady of Belen Church
Charlotte Roybal
Claudia Medina & Steve Schan
Our Lady of Victory Missionary Sisters
Shawn Rudd
Member Resources
Aubrey & Youvonnia Owen
Ruth Alicia Ruiz
Bess Metcalf
Christopher Miles Rustay
Miller Stratvert Law
-P-
Jean Miller, S.C.
Ray Padilla, Jr.
-S-
Martha Miranda
Payroll Company
Joan R. Saks-Berman
Carol Moldaw
Sandra F. Penn
David & Theresa Salazar
Monarch Social Investment
Louis Perez
Sam’s Club Foundation
Frank Sanchez
Cathy and Duane Sorenson
-V-
Judi & Felix Sanchez
South Valley SBDC
Arlene Valdez
Erin A. Sanders
Southwest Creations Collaborative
Norma & Dale Valdez
Michael & Michelle Sandoval
Southwestern Doors & Cabinets
Friedje van Gils
San Jose Awareness Council
Southwest Presbyterian Church
Janice Varela
San Jose Parish
Barbara & Jesse Spicer
Sr. Maria Luisa Vasquez, O.P.
Frank Sanchez
SSM International Finance
Vecinos Craft Shop
Sandia Lab. Federal Credit Union
Jonnie Breyer Stahl
Fred Vega
City of Santa Fe
Bob Stark
Connie Vigil
Santa Fe Community Foundation
Vivian Stark-Curry & Meuli Curry
Leonard Vigil
Santa Fe Nut Company
E & H Stowell Trust fbo Alice Stowell
Nick Vigil & Century Bank
Barbara Sargent
Kim Straus & Jack Lain
Tomas C. & Betsy Vigil
SBDC at Northern
NM Community College
Louisa Strong
Nan Schwanfelder
Vickie Scott-Grove
St. Paul Lutheran Church
-W-
Suitable Appearance
Waco Target Team
The Synod of the Southwest
(Clients of) Walden Asset Management
Seton Enablement Fund
Marion Seymour
Wal-Mart
-T-
Tanis Walters
Penelope Tarasuk
Wells Fargo Bank
Laurence & Joan Shandler
Temple Beth Shalom, Santa Fe
William and Carol Weakhee
Jane Shapiro Revolving Trust
Sally-Alice & Don Thompson
John Webster
Alissa Shethar
Threshold Foundation
Douglas and Judith Weinstock
Martha Sibert
Tides Foundation-Exploring Elf
Jonathan Weinstock
Charles & Lisa Siegel
Cheri Tillman
WESST corp
Sign Shop
Susan Todd
Jim West
SIGRED
Rocky & Nancy Todea
Westminster Presbyterian Church, Gallup
Myron Simmons
Cyndy and Mike Topliff
Andrew & Judy White, Jr.
Marty Simon & Carol Oppenheimer
J. Brian & Donna Trambley
Theresa Whitedove
Sisters of Charity
of the Blessed Virgin Mary
David & Sarah Treeson
Christian Willauer
Trillium Asset Management
Cecelia & David Williams
Antonio y Lucinda Trujillo
Marjorie J. Williams
Sisters of Charity of St. Elizabeth
Sr, Clarita Trujillo
Linda Williamson
Sisters of Loretto
Max Turcios
David Wilson/WAYA Research
Sisters of Mercy
Kathy Tyler
Kathleen Winslow
Robert & Ann Shafer
Sisters of Charity
of the Incarnate Word, Houston
Jeanne & Rolf Winterfelt
Sisters of the Presentation
of the Blessed Virgin Mary
-U-
Nancy Meem Wirth
Sisters of St. Dominic
Serena Unger
Aaron & Carolyn Wolf
Sisters of St. Francis of Mary
United South Broadway Corporation
Sisters of St. Francis of Philadelphia
United Way of New Mexico
Woodlands Investment
Management Group
Cherie Skinner
U.S. Bank
An-Jean Wright
Katherine Slick
U.S. Department of Agriculture
Jerry Small
U.S. Dept. of the Treasury
Barbara D. Smith Revolving Trust
U.S. New Mexico Federal Credit Union
Kenneth R. Smith Revolving Trust
U.S. Small Business Administration
Society of Mary, Province of St. Louis
Barbara Somerfeld & John Guffey
Staff & Board
The Loan Fund
423 Iron SW / P.O. Box 705
Albuquerque, NM 87103
866-873-6746 Toll Free
505-243-3196 ph / 505-243-8803 fax
www.loanfund.org
LOAN FUND BOARD MEMBERS
James Byrd, Chair
Community Bank of New Mexico,
Albuquerque
David Allen, Vice Chair
New Mexico Bank & Trust
Russell Foddrill, Secretary
First American Bank
Manny Ortiz, Treasurer
Manny Ortiz Tax & Management
Services
Jane Bradley
Independent Business Consultant
John Buehler
Risen Savior Parish
Chad Cooper, MBA
Prudential Financial
Herb Crosby, Ph.D
Avtec, Inc.
Raul De Gouvea, Ph.D.
Anderson School of Management
Ida Fierro
Town of Bernalillo
Mary Herrera
Former NM Secretary of State
Loan Fund Staff
Front row, left to right:
L. Joe Justice, Community Development Officer;
Matt Loehman, Project Development;
George Kenefic, Director of Enterprise Empowerment
Center:
F. Leroy Pacheco, President & CEO
Next to last row, left to right:
Cathy Sorenson, Community Development Officer;
Melissa Toland, Data Management Specialist;
Jacqueline Pacheco, Intern/Administrative Assistant
Last row, left to right:
Larissa Gonzales, Accountant;
Norma Valdez, Community Development Director;
Mi Sun Jung, Administrative Assistant;
Sharon Wiedenhaupt, Controller
David Hicks
U.S. Bank, N.A.
Justin Horwitz
Rodey Law Firm
Anita Kelly, CPA, CFE
Clifton Gunderson LLP
Norm Liss
Insurance Planners of New Mexico
Chandra Manning
Miller Stratvert Law Firm
Theodore Pedro
American Indian Chamber of
Commerce NM
“Faith & Funding in New Mexico - two decades of grassroots economic development” production credits:
Writing: Jane Blume, Desert Sky Communications
Graphic Design: Linda L. Lillow, Triple L, Ink Graphic Design
Photography: Jane Blume, Desert Sky Communications; Loan Fund staff photo: Albuquerque The Magazine/Liz Lopez; other
photos courtesy of George Kenefic, Norma Valdez, and pictured Loan Fund client organizations.
Graphs & Charts: Matt Loehman
Printing: Valliant Enterprises, Inc.
Cover photos of Loan Fund clients: Ruben Dorado, Dorado Bakery (top left); Tracy Kitts, Southwest Office Solutions (top
center); Women’s Housing Coalition family (top right); Delia Gallegos, El Sarape Restaurant (bottom left); Paul Laur, Santa Fe
Cider (bottom right).