SBA Ledger

States › New Mexico › FY2024

FY20241 Oct 2023 – 30 Sep 2024

SBA loans in New Mexico, FY2024

That fiscal year's approvals by lender and by county.

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.

In FY2024 (1 October 2023 to 30 September 2024) SBA approved 283 loans in New Mexico: 260 under 7(a) and 23 under 504, worth $150M.

That is up 19% on FY2023, when there were 237 approvals worth $157M.

New Mexico accounted for 0.4% of the 76,235 approvals nationwide that year. 61 lenders had at least one approval in the state; Wells Fargo Bank National Association had the most, 36.

283approvalsFY2023: 237
$150Mdollars approvedFY2023: $157M
$150Kmedian 7(a) approvalFY2023: $270K
61lenders with an approval
3,176jobs supported, as reported

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.

Approvals by lender

The 40 lenders with the most approvals to New Mexico businesses in FY2024, of 61 active.

#LenderProgramApprovalsDollarsShare of stateFY2023Change
1Wells Fargo Bank National Association7(a)36$8.4M12.7%24+12
2Western Commerce Bank7(a)32$11.2M11.3%40-8
3U.S. Bank, National Association7(a)18$1.5M6.4%15+3
4The Huntington National Bank7(a)17$8.1M6.0%11+6
5Readycap Lending, LLC7(a)16$3.3M5.7%6+10
6DreamSpring7(a)11$2.0M3.9%0new
7Capital Certified Development Corporation50410$10.6M3.5%16-6
8Newtek Bank, National Association7(a)9$3.8M3.2%90
9Northeast Bank7(a)9$460K3.2%0new
10Live Oak Banking Company7(a)8$7.6M2.8%80
11Century Bank7(a)7$2.6M2.5%2+5
12BayFirst National Bank7(a)7$943K2.5%14-7
13B:Side Capital5046$8.3M2.1%1+5
14Enterprise Bank & Trust7(a)6$4.8M2.1%2+4
15United Midwest Savings Bank National Association7(a)6$3.9M2.1%3+3
16Bank of America, National Association7(a)5$5.5M1.8%0new
17UMB Bank, National Association7(a)5$1.8M1.8%0new
18First Savings Bank7(a)5$745K1.8%4+1
19Enchantment Land Certified Development Company5044$2.3M1.4%7-3
20First Bank of the Lake7(a)4$1.5M1.4%6-2
21Capital Certified Development Corporation7(a)4$899K1.4%1+3
22First-Citizens Bank & Trust Company7(a)3$4.2M1.1%2+1
23Customers Bank7(a)3$2.5M1.1%0new
24Colony Bank7(a)3$1.6M1.1%0new
25PNC Bank, National Association7(a)3$1.5M1.1%2+1
26BMO Bank National Association7(a)2—0.7%9-7
27Harvest Small Business Finance, LLC7(a)2—0.7%0new
28First Financial Bank7(a)2—0.7%1+1
29US Eagle FCU7(a)2—0.7%0new
30Open Bank7(a)2—0.7%4-2
31BOKF, National Association7(a)2—0.7%1+1
32LiftFund, Inc.5042—0.7%1+1
33Zions Bank, A Division of7(a)2—0.7%20
34Lendistry SBLC, LLC7(a)2—0.7%0new
35First American Bank7(a)2—0.7%4-2
36Main Bank7(a)1—0.4%0new
37TD Bank, National Association7(a)1—0.4%0new
38America First Federal Credit Union7(a)1—0.4%0new
39VelocitySBA, LLC7(a)1—0.4%0new
40Shoreham Bank7(a)1—0.4%10

Approvals by county

#CountyApprovalsDollarsShare of stateFY2023Change
1Bernalillo County111$59.6M39.2%86+25
2Santa Fe County31$21.6M11.0%20+11
3Sandoval County22$8.0M7.8%13+9
4Doña Ana County20$6.0M7.1%24-4
5Eddy County15$7.3M5.3%21-6
6Lea County13$7.9M4.6%19-6
7San Juan County11$6.3M3.9%13-2
8Curry County7$772K2.5%8-1
9Valencia County6$8.2M2.1%5+1
10Taos County6$3.1M2.1%4+2
11Lincoln County5$5.5M1.8%4+1
12Chaves County5$1.2M1.8%2+3
13Otero County5$590K1.8%2+3
14McKinley County4$623K1.4%5-1
15Luna County4$1.1M1.4%1+3
16Cibola County4$3.5M1.4%1+3
17Los Alamos County3$327K1.1%0new
18Torrance County2—0.7%1+1
19Grant County2—0.7%0new
20Guadalupe County2—0.7%1+1
21San Miguel County1—0.4%0new
22Sierra County1—0.4%2-1
23Roosevelt County1—0.4%2-1
24Catron County1—0.4%0new
25Quay County1—0.4%0new

FY2024 against FY2023

New MexicoFY2024FY2023
7(a) approvals260211
7(a) dollars$127M$136M
Median 7(a) approval$150K$270K
504 approvals2326
504 dollars$23.2M$21.5M
Jobs supported, as reported3,1763,543

Questions and answers

Which lenders made the most SBA loans in New Mexico in FY2024?

Wells Fargo Bank National Association (36), Western Commerce Bank (32), U.S. Bank, National Association (18), The Huntington National Bank (17), Readycap Lending, LLC (16). 61 lenders had at least one approval.

How many SBA loans were approved in New Mexico in FY2024?

283: 260 under 7(a) worth $127M and 23 under 504 worth $23.2M.

Which New Mexico counties had the most SBA approvals in FY2024?

Bernalillo County (111), Santa Fe County (31), Sandoval County (22), Doña Ana County (20), Eddy County (15).

When does FY2024 start and end?

The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.

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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error