Rob Black, Cabinet Secretary-Designate | New Mexico Economic Development Department
The New Mexico Economic Development Department (EDD) has started accepting applications for Capital Connect, a new bilingual initiative aimed at helping small businesses in the state access capital. The program is intended to address gaps in accessibility to business resources, particularly for entrepreneurs who face language barriers.
Capital Connect is led by EDD’s Justice, Equity, Diversity & Inclusion Office and forms part of the State Small Business Credit Initiative Technical Assistance Program. Funding comes from the U.S. Department of the Treasury, and delivery is in partnership with Revby, a consulting firm that focuses on supporting small business growth and capital readiness.
EDD Cabinet Secretary Rob Black said, “Providing bilingual assistance helps us build trust and make sure every New Mexico entrepreneur feels supported along the way. When we take a dual-language approach, we open doors for businesses that might otherwise miss out on the resources the state offers.”
The program offers a free three-month cohort for 20 for-profit small businesses throughout New Mexico. Participants will receive $4,000 worth of consulting and coaching services, group workshops, one-on-one financial technical assistance, and support with accounting, financial planning, and loan application preparation. All aspects of the program are provided in both English and Spanish.
The initiative targets very small businesses—those with fewer than 10 employees—as well as minority-owned and rural enterprises looking to expand. Applications are open until November 24 through the Capital Connect webpage.
