Financial and Business Basics Program

Financial and Business Basics Program

Funding: $1.2 million grant from W.K. Kellogg Foundation

Status: Launched January 2018 (expansion of existing programs)

Geographic Scope: New Mexico (central/northern region, partnering with at least 6 tribes)

Focus Areas: Financial literacy, business basics, workforce training for Native Americans

Eligibility:

Native American adults age 18 and older

Low-income households

Must have at least one child under 8 years of age

Description: Extension of NMCC's Native Entrepreneur in Residence program (created 2014). Focuses on financial education and business fundamentals for Native American populations facing barriers to business success.

Key Challenges Addressed:

Native Americans on tribal lands face challenges starting or expanding businesses

Lack access to affordable financial products

Struggle to prepare competitive business plans and funding applications

Lack access to consistent business expertise and free support services

Limited peer networks

Context: Program created in response to high poverty rates among Native Americans in New Mexico (34.6% - highest in state)

Related Program Performance: Native Entrepreneur in Residence program (parent program) - 24 graduates created 84 new jobs and $7.36 million in new gross revenues

Funder: W.K. Kellogg Foundation

Contact: Peter Holter, Managing Director of Entrepreneurial Services, NMCC