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Company’s Financial Support to ACCION New Mexico Creates Businesses

PNM Resources and ACCION New Mexico are enhancing their partnership to support New Mexico entrepreneurs who want to start or expand a small business.

PNM is increasing its financial support from recent years to the nonprofit small business lender with a $45,000 pledge to support increased outreach throughout New Mexico. ACCION currently lends in 153 communities throughout the state including New Mexico’s colonias, or unincorporated communities along the New Mexico/Mexico border and pueblos.

ACCION New Mexico breaks down barriers to capital for underserved entrepreneurs and, provides support to these hardworking entrepreneurs to boost their opportunity for economic empowerment and lasting success. ACCION has provided 2,227 businesses with 3,726 loans since 1994 with an average loan size of $5,627.

“We are very pleased to partner with ACCION in this great venture,” said PNM Resources CFO and ACCION Board Member, Charles Eldred, “Small business is the backbone of every community and we are proud to support initiatives which provide great opportunities for women, minority and low-income business owners.

“PNM understands that building strong and thriving communities happens one family, one business at a time,” said Lynn Trojahn, ACCION New Mexico’s vice president of advancement. “We are honored that PNM has chosen to invest in ACCION’s award-winning community development efforts so, together, we can foster sustainable communities across New Mexico.”

Contact:
Lynn Trojahn
Vice President of Advancement
ACCION New Mexico
(505) 243-8844 ext. 238
(505) 573-1180 cell