State lending data
SBA lending in New Mexico
847 SBA 7(a) loans went to businesses in New Mexico recently, at a median of $200,000. The lenders that made them, what they charged, and how the state is trending.
847 SBA 7(a) loans went to businesses in New Mexico in the most recent fiscal years, at a median of $200,000. The most active lender in the state was Western Commerce Bank, with 108 loans. Approvals are down 19.6% on the year.
SBA lending in New Mexico, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in New Mexico, not advertised ranges.
| Measure | New Mexico | National |
|---|---|---|
| Loans approved | 847 | 214,102 |
| Total approved | $466.8 million | $104.1 billion |
| Median loan | $200,000 | $150,000 |
| 25th – 75th percentile | $55,000 – $552,500 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.00% | 10.25% |
| Share to startups | 39.4% | 33.6% |
| Charge-off rate, FY2010–19 | 5.7% | 7.1% |
| Jobs supported | 10,017 | 2,142,602 |
| Counties with recorded lending | 29 | — |
| Lenders active in the state | 101 | — |
Is SBA lending in New Mexico growing or shrinking?
Shrinking, along with almost every other state. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in New Mexico went from 158 to 127 loans, down 19.6% — while the dollars approved went from $94.0 million to $55.3 million, down 41.1%. The average approval fell from $594,642 to $435,410, so the change is weighted toward smaller loans.
That puts New Mexico mid-table — 27th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in New Mexico | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 195 | 51,747 | 0.4% |
| FY2024 | 236 | 62,618 | 0.4% |
| FY2025 | 271 | 64,096 | 0.4% |
| FY2026 (part year) | 145 | 35,641 | 0.4% |
Which lenders actually fund businesses in New Mexico
Ranked by loans approved inside New Mexico. The median, startup share and rate columns describe each lender's own New Mexico loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Western Commerce Bank | 108 | $284,000 | 60% | 9.00% |
| U.S. Bank | 83 | $32,500 | 30% | 9.49% |
| Wells Fargo Bank | 76 | $15,000 | 86% | 13.00% |
| Readycap Lending, LLC | 42 | $50,000 | 17% | 13.25% |
| Live Oak Banking Company | 39 | $500,000 | 18% | 9.50% |
| Newtek Bank | 34 | $262,500 | 15% | 11.25% |
| The Huntington National Bank | 31 | $275,000 | 61% | 10.75% |
| Northeast Bank | 30 | $110,000 | 10% | 10.50% |
| BayFirst National Bank | 27 | $150,000 | 0% | 12.25% |
| Century Bank | 27 | $319,000 | 37% | 9.00% |
| United Midwest Savings Bank | 21 | $300,000 | 71% | 10.25% |
| DreamSpring | 21 | $129,600 | 67% | 10.99% |
What stands out about New Mexico
Reading the state's own figures against the national picture:
- Loans here run larger than average. The median of $200,000 is 33% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- New businesses do well here. 39.4% of these loans went to startups or businesses no more than two years old, against 33.6% nationally — an unusually open market if you have no trading history.
Who borrows in New Mexico
The industry mix of SBA borrowers here, led by restaurants and hotels.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Restaurants and Hotels | 125 | 14.8% | $600,000 | 49% |
| Construction | 116 | 13.7% | $140,000 | 34% |
| Retail | 97 | 11.5% | $225,000 | 44% |
| Personal Services | 81 | 9.6% | $120,000 | 40% |
| Healthcare | 80 | 9.4% | $238,800 | 38% |
| Professional Services | 75 | 8.9% | $242,700 | 24% |
| Manufacturing | 55 | 6.5% | $300,000 | 47% |
| Trucking | 38 | 4.5% | $103,750 | 53% |
| Admin Services | 36 | 4.3% | $150,000 | 47% |
| Wholesale | 29 | 3.4% | $200,000 | 28% |
| Arts and Recreation | 27 | 3.2% | $280,000 | 67% |
| Mining | 25 | 3.0% | $496,400 | 8% |
Where the money goes in New Mexico
SBA lending is more concentrated than state totals suggest, and Bernalillo County alone accounts for 38% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Bernalillo County | 320 | $250,000 | $171.0 million |
| Santa Fe County | 89 | $225,000 | $46.6 million |
| Dona Ana County | 70 | $71,800 | $26.7 million |
| Eddy County | 62 | $245,000 | $29.7 million |
| Lea County | 52 | $288,050 | $33.8 million |
| San Juan County | 48 | $150,000 | $32.5 million |
| Sandoval County | 46 | $247,500 | $24.1 million |
SBA 504 in New Mexico
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | New Mexico 504 | National 504 |
|---|---|---|
| Projects approved | 101 | 22,192 |
| Median CDC share | $625,000 | $730,000 |
| Median total project | $1,465,563 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in New Mexico
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in New Mexico is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Arkansas, Rhode Island, Nebraska, Delaware, Mississippi, Montana, California, Florida
Questions people actually ask
How many SBA loans are approved in New Mexico each year?
847 SBA 7(a) loans were approved to businesses in New Mexico across fiscal years 2023 to 2026, using data released June 2026, worth $466.8 million in total. Over the most recent comparable months the number of approvals ran down 19.6% year on year, while the dollars approved ran down 41.1%.
Which bank approves the most SBA loans in New Mexico?
Western Commerce Bank, with 108 loans approved to businesses in the state and a median loan of $284,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in New Mexico?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.