Lending data
Who actually lends to mining and extraction businesses in New Mexico?
25 SBA 7(a) loans went to mining and extraction businesses in New Mexico recently, at a median of $496,400. Here are the lenders that made them, ranked.
25 SBA 7(a) loans went to mining and extraction businesses in New Mexico in the most recent fiscal years. The median was $496,400 over 9 years. The most active lender was Western Commerce Bank, with 18 loans.
What lending to mining and extraction businesses in New Mexico actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Mining and extraction, New Mexico | All 7(a) borrowers |
|---|---|---|
| Loans approved | 25 | 214,102 |
| Median loan | $496,400 | $150,000 |
| 25th - 75th percentile | $163,000 - $1,098,550 | $50,000 - $500,000 |
| Median term | 9 years | 10 years |
| Median initial rate | 9.00% | 10.25% |
| Share to startups | 8.0% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 2.0% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to mining and extraction businesses in New Mexico. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Western Commerce Bank | 18 | $332,600 | 6% | 8.59% |
| First American Bank | 2 | $1,400,300 | 0% | 10.00% |
| Colony Bank | 2 | $1,895,500 | 0% | 10.38% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $496,400 is 231% 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.
- This is a hard market for new businesses. Only 8% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- One lender dominates. Western Commerce Bank alone made 72% of these loans, and the top three made 88%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- Rates run lower here. The median initial rate of 9.00% is 1.25 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- This market has performed well. Its FY2010-2019 charge-off rate of 2.0% is below the 7.1% overall figure, which is part of why lenders compete for it.
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in New Mexico: restaurants and hotels, construction, retail, personal services, healthcare, professional services
- Mining in comparable states: Oklahoma, Texas