Micro-Loan Program for New Mexico Farmers

The New Mexico Farmers' Marketing Association (NMFMA) is a nonprofit organization with a mission to support farmers and producers who grow and sell food at farmers' markets and other local and direct marketing venues in New Mexico.

With donations received, the NMFMA maintains an account at the Sandia Area Federal Credit Union (SAFCU) with funds to be used as collateral for small loans to New Mexico farmers. This enables the loans to be offered at a low interest rate and as the loans are repaid, the funds can be reused to secure new loans. It is reuse and recycling at its best!

To qualify for a loan, applicants must comply with each of the following:

1. Submit an NMFMA Pre-qualification Letter (per the published guidelines). Applicants may also call the NMFMA at (505) 983-4010 to request an application form by mail.

2. Become a Santa Fe Area Community Credit Union (SFACU) member by establishing an account with a $50.00 balance, and upon pre-qualification approval, complete a basic one-page NMFMA Loan Application.

3. Be a food producer or food vendor (for at least one year) at an NMFMA member market. New Mexico food producers/vendors or those affiliated with local food who do not sell at an NMFMA member market may contact NMFMA for possible assistance.

4. An exit interview may be requested at the end of the payment period.

Send Pre-qualification Letters to questions@farmersmarketsnm.org, or mail to: New Mexico Farmers' Marketing Association, 1919 Fifth Street, Suite H, Santa Fe, NM 87505. Questions: (505) 983-4010 or questions@farmersmarketsnm.org.

Loan Details

• Loan amounts available: $500 to $2,500

• Terms: 40 months, fixed interest rate of 6% (check with NMFMA for most current rate) There is no penalty for early repayment.

Write a Pre-qualification letter according to these guidelines and email to questions@farmersmarketsnm.org

Or mail to:

New Mexico Farmers' Marketing Association

1219 Luisa St. #1

Santa Fe, NM 87505