In 2010, Commissioner Art De La Cruz and the Bernalillo County Economic Development Department announced the Bernalillo County’s Increment of 1 bridge loan program. This business incentive will allow small businesses to apply for loans from $5,000 to $50,000.
The program tracks and develops a strong business model for each business before and after a loan is disbursed. Each company receives a business adviser.
“This program isn't just about lending money out, but growing businesses,” says Commissioner Art De La Cruz.
The money to support the loans comes from Bernalillo County and three private partners to total $1 million. Increment of 1 has a goal to create more than 550 jobs over two years.