Crosby Micro-Loan Program
Powered by Nusenda Credit Union
Empowering Underbanked Entrepreneurs

About the Program

The Crosby Micro-Loan Program is a collaborative initiative between the Black Chamber of Commerce of New Mexico and Nusenda Credit Union. Named in honor of visionary leader Mr. Herb Crosby, the program aims to support underbanked entrepreneurs by offering accessible micro-loans.

Program Features

• Loan Amounts: $250 - $10,000
• Flexible Terms: 1 to 10 years
• Interest Rate: 5% competitive rate
• Membership Requirement: Applicants must be members of the Black Chamber of Commerce of NM upon loan approval

Why This Program?

Many underbanked communities face challenges in accessing traditional loans, which can hinder small business growth and stifle community economic development. The Crosby Micro-Loan Program provides a solution by offering much-needed financial support to the underserved.

Program Impact Goals

• Stimulate Small Business Growth: Drive the expansion of businesses within underserved communities.
• Job Creation: Help foster employment opportunities in areas where they are most needed.
• Economic Empowerment: Promote long-term financial stability and economic development in alignment with the Chamber’s mission.

Community-Based Lending Decisions

Loan decisions are made by the Black Chamber of Commerce of New Mexico, ensuring that local insights and community knowledge play a key role in empowering Black-owned businesses and meeting the economic needs of the community.

Get Involved & Apply

Applications for the Crosby Micro-Loan Program will open in late October 2024. Don’t miss the opportunity to grow your business with the support of this innovative financial empowerment program!

For more information and details on how to apply, visit the Black Chamber of Commerce of New Mexico website:
https://www.bccofnm.org

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