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Strict rules keep business out of New Mexico loan program

As written, the statute does not allow flexibility in the program for businesses that are less than a year old and therefore can’t compare revenues.

SANTA FE, N.M. (AP) — According to a state agency, only about $20 million of a $400 million loan program for New Mexico small businesses hit by the pandemic has been approved to send out since the program began in August.

 

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