New Mexico SEEDLOANS - PowerPoint PPT Presentation

Title: New Mexico SEEDLOANS


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New Mexico SEEDLOANS

• SEED Self Employment for Entrepreneurs With
• Disabilities

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Partnering With VRIn New Mexico
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VR Staff Members Serve On The Technology Council
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NM SEEDLOANS Program Personnel

• 1) Market program directly to VR Area offices

2) Orient VR counselors on NMSEEDLoans
3) Send email updates
4) Make personal appearances at regional meetings
to keep them up-to-date
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NM SEEDLoans
Works with potential loan clients and refers them
to VR when appropriate
Has an advantage because NM DVR has a
self-employment focus

• Three out of last five loans have been made to
  people with VR connections (active client, former
  VR client, spouse who is client)

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Talking Points To Promote Loan Program to VR
-Helps borrowers build credit and can improve
clients credit rating
- Very low rates of interest (currently 2.25)
-VR funds can be leveraged with NM SEEDLoan funds
to pay for business expenses
-Provides more supports so clients may not need
to return to VR when business problems arise
-Allows VR counselor to purchase other services
that might be needed (and also to serve more
clients)
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Road Blocks
-VR clients would prefer to receive free money
(VR grant) compared to taking out a loan and
having to pay it back
-Some VR Counselors interested in outside
services only if they are easy to access and will
make their job easier
-Counselors do not believe that clients can
afford loan- even a 50 loan payment for
equipment that would make the client money.
-Easier for Counselor to just buy the business
equipment outright than work with NM SEEDLoan
Program
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• www.nmseedloans.org
• 800-866-2253
• Program Director andy.winnegar_at_state.nm.us
• Loan Council Member charlenechavez_at_state.nm.us
• Marketing Consultant ktjnorton_at_comcast.net