# New Mexico Small Business Investment Corporation

New Mexico Small Business Investment Corporation is a Government / Public Body based in Tijeras, United States.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Tijeras, United States
- **Region:** North America
- **Address:** Tijeras, NM, United States
- **Founded:** 2001
- **Assets under management:** Undisclosed
- **Website:** www.nmsbic.com
- **LinkedIn:** https://www.linkedin.com/company/small-business-investment-corporation

## Regulatory record

- **Reports private funds:** No

## About

The New Mexico Small Business Investment Corporation was established by the State Legislature in 2000. It invests in local companies, providing equity or debt capital for expansion. Funded by the New Mexico Severance Tax Permanent Fund, the corporation focuses on agribusiness investments.

## Sectors

- Private Credit
- Real Estate
- Community Development

## People

- Joshua Smith — Board Chair and President
- Laura M. Montoya — New Mexico State Treasurer; Board Member

## Questions

### How does NMSBIC deploy capital to small businesses?

NMSBIC functions as a wholesale lender rather than making direct loans. It extends lines of credit to a network of New Mexico-based community development financial institutions and nonprofit lenders, including DreamSpring, The Loan Fund, and WESST. Those partner organizations then originate and service loans to individual small businesses, startups, and real estate owner-occupants.

### Who governs the New Mexico Small Business Investment Corporation?

A board of directors provides oversight, combining private-sector financial expertise with public accountability. Chair Joshua Smith is a senior vice president at WaFd Bank, and the New Mexico State Treasurer serves as an ex officio board member. This hybrid governance structure reflects the corporation's design as a public instrumentality with private-sector operating discipline.

### Which lending partners does NMSBIC currently work with?

Confirmed partners include DreamSpring, The Loan Fund, WESST, Ventana Fund, Homewise, LiftFund, the Rural Community Assistance Corporation, and B:Side Fund. Each partner serves a distinct niche — from rural small businesses to affordable housing developers to women-owned enterprises.

### How is NMSBIC funded?

The corporation was capitalized by the New Mexico state legislature at its founding in 2001. It sustains operations through interest income earned on its credit lines to lending partners and returns from its SIC Core Plus Bond Pool, a fixed-income portfolio. This self-funding structure reduces reliance on ongoing state appropriations.

### What is the SIC Core Plus Bond Pool?

The SIC Core Plus Bond Pool is a fixed-income investment vehicle held alongside the corporation's lending operations. Returns from the bond pool support NMSBIC's overall financial sustainability, creating a buffer that allows the credit program to operate through economic cycles without depending solely on loan repayments or new legislative funding.

## Related profiles

- [New Mexico Public Employees Retirement Association](https://altss.com/profile/new-mexico-public-employees-retirement-association)
- [New Mexico State University Foundation](https://altss.com/profile/new-mexico-state-university-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

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