Articles Archive

• Get

• Give

• Learn

• Support

Bank Extends $250,000 Line of Credit to Nonprofit Lender
The First National Bank of Santa Fe in Albuquerque has extended a $250,000 zero-interest line of credit to ACCION New Mexico to jump start the nonprofit’s lending year.

The line of credit will support ACCION’s work providing small business loans to emerging and existing entrepreneurs throughout New Mexico. In 2005 alone, the nonprofit lender put more than $5.4 million into the hands of hardworking New Mexicans through 479 loans. More than 90 percent of those loans went to low-income, minority or women entrepreneurs.

First National Bank of Santa Fe President and CEO Gregory J. Ellena said the line of credit demonstrates his bank’s faith in ACCION’s operations and goals.

“There is a vital need for a lender like ACCION in New Mexico,” Ellena said. “ACCION has a history of strong management and has demonstrated its commitment to strengthening the economy of New Mexico. We view our investment in ACCION as an investment in the future.”

The First National Bank of Santa Fe was chartered in 1870 and remains the oldest community bank in the Southwest. It has nine banking offices in Albuquerque, Los Alamos and Santa Fe, including the main location on Santa Fe Plaza. For more than 135 years, the First National Bank of Santa Fe has been locally owned and managed, providing a wide range of private and commercial banking services for its clients. Services include personal and business loans, mortgages, trust and estate planning, investment management services, and property and casualty insurance. First National Bank of Santa Fe strives to be a partner to the communities it serves to ensure the continued well being of all New Mexicans.

Contact:
Leslie Hoffman
ACCION New Mexico Communications Director
(505) 243-8844 ext. 238
(505) 270-0285 cell