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County10th of 30 in New Mexico by approvalsFIPS 35035
SBA loans in Otero County, New Mexico
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Otero County, New Mexico, received 31 SBA loan approvals worth $12.0M in FY2021 to FY2025 (30 7(a), 1 504).
That is 31.4 approvals per 1,000 business establishments (988 establishments in 2023), close to the New Mexico figure of 32.4 and below the national 41.0.
It ranks 10th of 30 New Mexico counties with approvals. In FY2025 there were 3.
12 lenders had approvals here; the most active were First National Bank (7), First Savings Bank (6) and Wells Fargo Bank National Association (5). The most common industry was traveler accommodation.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Otero County
By number of approvals to businesses in the county, FY2021–FY2025; 12 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | First National BankAlamogordo, NM | 7 | $783K | 22.6% | |
| 2 | First Savings BankBeresford, SD | 6 | $899K | 19.4% | |
| 3 | Wells Fargo Bank National AssociationSioux Falls, SD | 5 | $452K | 16.1% | |
| 4 | Newtek Small Business Finance, Inc.Lake Success, NY | 3 | $153K | 9.7% | |
| 5 | US Metro BankGarden Grove, CA | 2 | — | 6.5% | |
| 6 | Southwest Heritage BankScottsdale, AZ | 2 | — | 6.5% | |
| 7 | First Southwest BankDurango, CO | 1 | — | 3.2% | |
| 8 | Western Commerce BankCarlsbad, NM | 1 | — | 3.2% | |
| 9 | First American BankArtesia, NM | 1 | — | 3.2% | |
| 10 | The Huntington National BankColumbus, OH | 1 | — | 3.2% | |
| 11 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 3.2% | |
| 12 | Capital Certified Development CorporationAustin, TX · CDC | 1 | — | 3.2% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Traveler AccommodationNAICS 7211 | 4 | 12.9% | |
| 2 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 4 | 12.9% | |
| 3 | Offices of Real Estate Agents and BrokersNAICS 5312 | 2 | 6.5% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 6.5% | |
| 5 | Soap, Cleaning Compound, and Toilet Preparation ManufacturingNAICS 3256 | 2 | 6.5% | |
| 6 | Restaurants and Other Eating PlacesNAICS 7225 | 2 | 6.5% | |
| 7 | Lessors of Real EstateNAICS 5311 | 1 | 3.2% | |
| 8 | Grocery StoresNAICS 4451 | 1 | 3.2% | |
| 9 | Professional and Commercial Equipment and Supplies Merchant WholesalersNAICS 4234 | 1 | 3.2% | |
| 10 | Drycleaning and Laundry ServicesNAICS 8123 | 1 | 3.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 6 | 19.4% | |
| 2 | Other Services (except Public Administration) | 4 | 12.9% | |
| 3 | Construction | 4 | 12.9% | |
| 4 | Professional, Scientific, and Technical Services | 4 | 12.9% | |
| 5 | Real Estate and Rental and Leasing | 3 | 9.7% | |
| 6 | Manufacturing | 3 | 9.7% | |
| 7 | Health Care and Social Assistance | 2 | 6.5% | |
| 8 | Retail Trade | 1 | 3.2% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 3 | $314K | $70K | 1 | — | 4 | 3 |
| FY2025 | 3 | $6.7M | $2.5M | 0 | — | 3 | 42 |
| FY2024 | 5 | $590K | $68K | 0 | — | 5 | 34 |
| FY2023 | 2 | — | — | 0 | — | 2 | 46 |
| FY2022 | 14 | $3.0M | $169K | 0 | — | 14 | 63 |
| FY2021 | 6 | $815K | $99K | 1 | — | 7 | 32 |
| FY2020 | 5 | $1.3M | $40K | 0 | — | 5 | 16 |
| FY2019 | 6 | $743K | $112K | 1 | — | 7 | 39 |
| FY2018 | 2 | — | — | 0 | — | 2 | 19 |
| FY2017 | 2 | — | — | 0 | — | 2 | 0 |
| FY2016 | 9 | $1.0M | $44K | 0 | — | 9 | 91 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 25 approvals.
Against New Mexico and the country
| FY2021–FY2025 | Otero County | New Mexico | United States |
|---|---|---|---|
| Approvals | 31 | 1,453 | 342,825 |
| Approvals per 1,000 establishments | 31.4 | 32.4 | 41.0 |
| Median 7(a) approval | $141K | $250K | $190K |
| Median 504 approval | — | $485K | $657K |
| Average approval | $388K | $638K | $573K |
| 504 share of approvals | 3.2% | 12.0% | 11.0% |
| Jobs supported per approval, as reported | 7.0 | 11.9 | 10.5 |
| Share of state approvals | 2.1% | 100.0% | — |
Approval sizes
- $50,000 or less32.3%10
- $50,001 to $150,00022.6%7
- $150,001 to $350,00029.0%9
- $350,001 to $1 million9.7%3
- Over $2 million6.5%2
Age of the businesses
- Existing, more than 2 years old29.0%9
- New business, 2 years or less29.0%9
- Startup, loan funds will open the business32.3%10
- Change of ownership9.7%3
Questions and answers
Which lenders make the most SBA loans in Otero County?
By approvals in FY2021 to FY2025: First National Bank (7), First Savings Bank (6), Wells Fargo Bank National Association (5), Newtek Small Business Finance, Inc. (3), US Metro Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Otero County?
The median 7(a) approval was $141K; the New Mexico 7(a) median was $250K.
Which industries get the most SBA loans in Otero County?
Traveler Accommodation (4); Other Professional, Scientific, and Technical Services (4); Offices of Real Estate Agents and Brokers (2); Automotive Repair and Maintenance (2); Soap, Cleaning Compound, and Toilet Preparation Manufacturing (2).
Is SBA lending in Otero County rising?
Approvals in the three latest complete fiscal years total 10, against 26 in the three before: falling (-62%).
How does Otero County compare with the rest of New Mexico?
31.4 approvals per 1,000 establishments against 32.4 statewide, and 31 of the state's 1,453 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error