County small business program sees success
A new program aimed at giving local businesses a big boost appears to be working. KOB Eyewitness News 4 got a chance to talk to some of those business who say Bernalillo County’s Increment of One initiative has given them some much needed help. The program is a collaboration between Bernalillo County, The Loan Fund, the Albuquerque Hispano Chamber of Commerce and the New Mexico Small Business Network. The county has spent the past five weeks going around to local businesses. They’re helping business owners get loans, come up with a marketing strategy and become social media saavy. Michelle Morath always wanted her own personal training business. Just this week, that dream became a reality, when she opened New Mexico Fitness near San Mateo and Osuna. But her success was not without help. “I needed some funds to help me purchase the equipment that I have here, help to get me into the space here, to help with the lease,” Morath said. ‘Increment of One’ is a program designed for small businesses, giving them help, guidance and access to money. As a major part of the program, the county has paired with the loan fund, to provide easy access to small loans with low interest rates. Bernalillo County contributed 0000 to the program and The Loan Fund matched that, adding 0000 of its own. “These businesses are surviving and thriving and they’re paying us back through gross receipts, plus they’re paying back the money that they borrowed,” said County Commissioner Wayne Johnson …
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