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ALBUQUERQUE, N.M.—An Albuquerque-based business development organization is reporting a boom in the number of loans it has issued this year to small businesses in New Mexico, Colorado and Arizona.
Officials with Accion say the amount of credit the micro-lender has provided to entrepreneurs during the first three quarters of this year has increased by 41 percent over last year. The total of those loans is more than $3 million.
The organization has also seen the volume of loans increase by more than a third over the past year.
Accion Vice President of Advancement Lynn Trojahn says the loans are a means for entrepreneurs to start, operate and grow small businesses that are vital to the region’s economic well-being.
