Small Business Saturday takes place this week across the nation.
And small businesses have been getting help in New Mexico through a federal program.
Small Business Saturday is a yearly event designed to encourage people to shop at small businesses. The U.S. Census Bureau reports…there are over 28 million small businesses in the United States, representing 44 percent of the private sector payroll. Many jobs in rural America have been created through USDA Rural Development programs.
These include over a dozen loan guarantee, direct loan, and grant opportunities. Generally….the programs are available to small business owners in rural communities of 50-thousand people or less.
Rural development also provides home loans…and it’s been a busy year for the program. New Mexico USDA rural development director Terry Brunner says $70 million in single-family home loans have been provided in the state.
In addition to home loans…a wide variety of New Mexico businesses have benefited from USDA programs in the last year…including the Sierra tortilla manufacturing operation in Sunland Park.
The financial support helps small businesses expand, purchase new equipment, receive training and technical assistance, and become energy efficient.