Nonprofit empowering hundreds of Native American entrepreneurs celebrates 20 years with expansion;
New Mexico Community Capital opens new community wing, seed exchange and wellness center
ALBUQUERQUE, N.M. — September 10, 2024 — They’ve empowered hundreds of Indigenous entrepreneurs to achieve their dreams, and now New Mexico Community Capital (NMCC) is intensifying its support with a building expansion to aid in building community, marketing, health and mental wellness.
With a renewed mission and vision, NMCC has extended its office space in the historic Occidental Life Building in downtown Albuquerque. The new 4,000-square-foot space will allow the nonprofit to increase its business education courses and storefront marketplace. The addition also includes a meditation room, a sound room to record podcasts, and an Indigenous seed library. The Resilience Hub will also be available for public rental – the space is designed to foster collaboration and support Indigenous businesses.
“This is what people have been asking for,” NMCC Executive Director Elizabeth Gamboa said. “They want places to gather. They want a co-working space. They want a place to start collectives. This is really a landing space for those ideas, and it’s for all communities.”
NMCC was created in 2004 as a venture capital fund with a nonprofit to assist underrepresented New Mexico companies. The accompanying nonprofit later became a community lender to provide loans and lines of credit for small businesses. The organization, which began aiding Indigenous communities after investment from Sandia Pueblo about 13 years ago, discovered that many companies weren’t ready for venture capital funding or didn’t want to incur the debt. Discovering the need for business training among Native Americans, leaders dropped traditional lending practices and began focusing on community-based lending.
Since shifting its focus primarily to Indigenous entrepreneurs in 2013 and providing business basics, mentorship, financial and digital literacy, more than 500 Indigenous entrepreneurs have enrolled in NMCC’s educational programs. This shift has led to life-changing and wealth-building opportunities with the creation of dozens of Native-owned businesses and jobs in and around tribal communities in New Mexico and nationwide. Some NMCC graduates include the first Native woman-owned brewery in the U.S., and the first vegan Native woman-owned restaurant in New Mexico. Bow & Arrow Brewing Co. and Itality Plant-Based Foods are both based in Albuquerque.
NMCC is also redefining what capital means, especially in Indigenous communities.
“It’s knowledge. It’s listening; it’s providing real tools to help people,” Gamboa said.
NMCC will celebrate its 20th anniversary and the new addition during the first Friday ABQ Art Walk downtown from 6 – 9 p.m. on October 4. The event will showcase Indigenous artisans and other entrepreneurs on the expanded storefront, and a fashion show. Lyla June, Navajo musician, scholar and community organizer, will be the master of ceremonies for the evening.
Photos are available in the press kit. B-roll is available upon request.
# # #
