Nusenda Credit Union has added four partners to its Nusenda Co-Op Capital microloan program, which targets underserved and marginalized groups with loans typically ranging from $250 to $10,000.

Native Renewables, New Mexico Community Capital, NMCAN and the Santa Fe Community College Foundation along with existing partners identify potential borrowers and underwrite the loans, and Nusenda issues and services the loans.

The average loan amount is $5,050, Nusenda said in a statement.

SFCC will use the program to obtain emergency funding for students to stay in school, a Nusenda news release states.

The Nusenda Co-Op Capital microloan program has more than 220 microloans issued for nearly $1 million, noting a near 100 percent repayment rate.

The other partners are Street Food Institute, UpTogether, Partnership for Community Action, Cultivating Coders, Native Community Capital, South Valley Economic Development Center, Native Women Lead, UNM Innovation Academy, Change Labs, Three Sisters Kitchen and International District Economic Development.

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