New Mexico businesses took out 696 SBA 7(a) loans worth $376M in fiscal years 2024 to 2026, counting only loans that were not cancelled. That ranks 41st of 52 by number of loans and 39th by dollars. The median loan was $200K at a median starting rate of 10.00%. In FY2026 alone, lenders approved 222 New Mexico loans for $99.2M before cancellations.
What stands out in New Mexico
Lending clusters in one county
Bernalillo County alone accounted for 39.5% of New Mexico's 7(a) loans (275 loans), and Albuquerque was the most frequent borrower city with 259. The next county, Santa Fe, had 10.6%.
FY2026 in line with the national drop
New Mexico approvals went from 311 in FY2025 to 222 in FY2026 (−28.6%), close to the national −28.1%. The median New Mexico loan moved from $150K in FY2024 to $150K in FY2026.
Loan sizes close to the national norm
The median 7(a) loan in New Mexico was $200K (national $175K) and the average was $540K (national $508K). 75.4% of loans were $500,000 or less.
Where in New Mexico the loans go
| County | Loans |
|---|---|
| Bernalillo | 275 |
| Santa Fe | 74 |
| Dona Ana | 52 |
| Eddy | 44 |
| Sandoval | 42 |
| San Juan | 39 |
| Lea | 37 |
| Curry | 18 |
| City | Loans |
|---|---|
| Albuquerque | 259 |
| Santa Fe | 70 |
| Las Cruces | 45 |
| Rio Rancho | 36 |
| Carlsbad | 33 |
| Farmington | 28 |
| Hobbs | 24 |
| Clovis | 18 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
New Mexico SBA 7(a) loans by fiscal year
SBA fiscal years run October to September, so FY2026 covers October 2025 through September 2026. "Approved" counts every loan SBA guaranteed, the basis of SBA's own published totals; "not cancelled" drops loans that were later cancelled before or after funding. FY2026 loans are recent, so some of them may still be cancelled.
| FY2024 | FY2025 | FY2026 | |
|---|---|---|---|
| Loans approved | 260 | 311 | 222 |
| Dollars approved | $127M | $188M | $99.2M |
| Loans not cancelled | 235 | 271 | 190 |
| Median loan | $150K | $250K | $150K |
| Median rate | 10.99% | 10.00% | 9.50% |
| Loans of $150K or less | 51.9% | 39.5% | 50.5% |
| SBA Express share | 34.9% | 26.6% | 32.1% |
FY2026 approvals in New Mexico changed by −28.6% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
What a typical New Mexico SBA loan looks like
| FY2024-FY2026, not cancelled | New Mexico | United States |
|---|---|---|
| Median loan | $200K | $175K |
| Average loan | $540K | $508K |
| Median starting rate | 10.00% | 10.25% |
| Variable-rate loans | 80.3% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 46.7% | 49.0% |
| Loans of $500K or less | 75.4% | 76.9% |
| Loans of $1M or more | 15.2% | 13.6% |
| Startups (loan opens the business) | 15.9% | 16.1% |
| Startups and businesses 2 years old or less | 38.6% | 32.0% |
| Change of ownership (buying a business) | 11.8% | 10.9% |
| Franchise businesses | 11.9% | 11.0% |
| SBA Express loans | 30.9% | 35.8% |
| Jobs supported (reported at approval) | 7,725 | 1,733,816 |
Top SBA 7(a) lenders in New Mexico
| Lender | Loans | Share of state |
|---|---|---|
| 1. U.S. Bank, National Association | 74 | 10.6% |
| 2. Western Commerce Bank | 71 | 10.2% |
| 3. Wells Fargo Bank National Association | 52 | 7.5% |
| 4. Readycap Lending, LLC | 38 | 5.5% |
| 5. Live Oak Banking Company | 38 | 5.5% |
| 6. Northeast Bank | 36 | 5.2% |
| 7. Newtek Bank, National Association | 34 | 4.9% |
| 8. DreamSpring | 25 | 3.6% |
| 9. Century Bank | 25 | 3.6% |
| 10. The Huntington National Bank | 21 | 3.0% |
Industries that borrow most in New Mexico
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Construction | 102 | 14.7% | $150K | 10.25% |
| Restaurants and hotels | 97 | 13.9% | $500K | 9.50% |
| Retail | 78 | 11.2% | $201K | 10.25% |
| Other services (repair, personal care) | 75 | 10.8% | $115K | 10.50% |
| Health care | 66 | 9.5% | $238K | 9.50% |
| Professional services | 59 | 8.5% | $200K | 10.00% |
| Manufacturing | 44 | 6.3% | $275K | 10.12% |
| Administrative and support services | 29 | 4.2% | – | – |
SBA 504 loans in New Mexico
The SBA 504 program finances owner-occupied real estate and long-life equipment. A certified development company (CDC) lends up to 40% of the project with an SBA-backed debenture, a bank typically lends about 50%, and the business puts in the rest. The amounts below are the CDC portion.
| New Mexico | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 77 | 18,076 |
| 504 dollars | $80.1M | $20.82B |
| Median 504 loan | $618K | $742K |
| Jobs supported (reported at approval) | 684 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Capital Certified Development Corporation | 31 |
| B:side Capital | 24 |
| Enchantment Land Certified Development Company | 15 |
SBA district office for New Mexico
New Mexico loans are overseen by the SBA New Mexico District Office. District offices do not make loans; they support lenders and borrowers and point businesses to local resource partners. Contact details are on SBA's local assistance page.
Comparing SBA and other funding in New Mexico
An SBA loan is often the cheapest long-term money a small business can get, but approval takes weeks and the 2025 and 2026 rule changes narrowed who qualifies. FSE (Funding Solutions Experts) is an independent commercial finance brokerage. We are not an SBA lender and are not affiliated with the U.S. Small Business Administration; one application lets us compare SBA and non-SBA options from our funding partners side by side.
- No fee to your business: we are paid a commission by the funding partner.
- No credit check to apply.
- To be considered, a business generally needs at least 1 year in business and $10,000 or more in monthly revenue.
Read what an SBA loan is and how the programs work or our SBA and term loans guide.
Frequently asked questions
How many SBA loans were made in New Mexico?
Lenders approved 260 SBA 7(a) loans for New Mexico businesses in FY2024, 311 in FY2025 and 222 in FY2026, before cancellations. Net of cancelled loans, the three years total 696 loans worth $376M, plus 77 SBA 504 loans worth $80.1M.
Which banks make the most SBA loans in New Mexico?
In FY2024 to FY2026 the most active 7(a) lenders in New Mexico were U.S. Bank, National Association (74 loans, 10.6%), Western Commerce Bank (71 loans, 10.2%), Wells Fargo Bank National Association (52 loans, 7.5%).
What is the typical SBA loan size and rate in New Mexico?
The median 7(a) loan in New Mexico was $200K and the average was $540K. The median starting interest rate was 10.00%, 80.3% of loans had a variable rate, and the median term was 120 months.
Source and method
Figures come from the U.S. Small Business Administration's 7(a) and 504 FOIA loan files (as of September 30, 2026), aggregated by FSE. Loans are assigned to New Mexico by project state. Profile figures cover FY2024-FY2026 loans that were not cancelled. We publish aggregates only: no borrower names or addresses, and no figure based on fewer than 10 loans. Full details are in the methodology, and every state's figures can be downloaded as CSV.
Compare nearby states by volume: Nebraska, Mississippi, Rhode Island, Delaware, or see all states.