Our Mission
To improve the lives of New Mexicans, particularly those in rural and economically underserved areas, by investing in small businesses, helping those companies prosper and contribute to their communities.
Our Approach
NMCC delivers its community development mission through two operating arms:
NMCC's Investment Fund is a community development investment capital fund that provides equity capital to promising New Mexico companies, typically in locales and sectors in which this type of capital is not otherwise available. By providing equity or equity-like financing, the Fund indirectly makes traditional debt financing more available to those companies as well. The Fund's goal is to make 2 to 4 investments per year, a substantial portion of which will be outside of the Albuquerque-Santa Fe corridor. The Fund looks for companies with positive cash flow, sales in excess of $500,000 and a commitment to a superior workplace that need 250,000 to $1,000,000 in equity capital to grow.
NMCC's IMPACT-NM Business Growth Services program helps New Mexico companies in underserved areas to improve their ability to obtain financing by buildin up these companies' skills and capacities and accelerating their growth. NMCC's unique approach is to provide high-quality, hands-on professional business operations assistance as well as connections to entrepreneurial expertise, capital sources, business networks and other services. IMPACT-NM also monitors, assesses and reports on the social and community impacts of its work.
What We've Learned
- Most new job growth and wage increases come from small firms and businesses.
- Government programs do not create long-term financial stability for families.
- Traditional economic development approaches are not working in our rural communities.
- Families can prosper when there is a connection to local jobs paying GOOD wages.
How We Are Effective
- A focus on implementation – By embedding our expertise in our client companies, we gain a clear, first-hand understanding of their business challenges and can more effectively determine the resources and assistance they need for growth.
- Private-sector expertise – IMPACT-NM is spearheaded by business professionals with significant private-sector experience and track records of excellence to serve clients. Tailored to the specific needs of each client company, these individuals are likely to be both IMPACT-NM staff and working business professionals recruited by IMPACT-NM for task assistance such as serving on a client company’s board.
- Establishment of precise benchmarks and timetables – At the outset of a client engagement, we determine specific goals and objectives for client companies to attain. With clear goals, both IMPACT-NM and clients understand the aim of their efforts and know when they have achieved success.
- A long-term approach to growth – Growing a business does not happen overnight, which is largely why existing, short-term-focused services available to New Mexico businesses have fallen short. We work with clients for as long as they need our serv-ices, even if that means a multi-year engagement.
- A fast-track approach to documentation – The right documentation and contractual obligations are essential to any business. We work quickly to ensure these are in place while respecting clients’ concerns regarding contracts and outside advice.
- An unwavering commitment to the mission – IMPACT-NM is dedicated to helping companies create job opportunities. Toward that end, we will serve deserving businesses pro bono when good local opportunities are too small for traditional investments.
- Risk tolerance – We remain steadfast in our commitment to helping New Mexico businesses and communities succeed and thus have a high tolerance for risk.
