The U.S. Small Business Administration has awarded Nusenda Credit Union a $250,000 grant to help low-income entrepreneurs gain access to capital through the agency’s Program for Investment in Micro-Entrepreneurs.
This year’s 30 recipients of grants ranging from $75,000 to $250,000 come from 22 states. Grant recipients have to provide a 50 percent match either in funds or in-kind contributions, the SBA said in a news release.
The grant will help Nusenda offer training and technical assistance to strengthen economically disadvantaged businesses, particularly those that service entrepreneurs in federal Opportunity Zones, rural areas and HUBZones.
Albuquerque-based Nusenda has one branch in Santa Fe at 1710 St. Michael’s Drive.