Executive's Desk: Office hours boost NM Angels' accessibility - Albuquerque Journal

Executive’s Desk: Office hours boost NM Angels’ accessibility

The folks at WESST never stop thinking of new ways to help small businesses succeed and thus strengthen New Mexico’s economy.

The 27-year-old nonprofit’s newest partnership is with New Mexico Angels – a 501(c)6 organization that, besides its educational and promotional mission, acts as an intermediary between its members and early-stage businesses that present promising investment opportunities.

NMA (www.NMAngels.com) has been around since 1999. Just this year the organization began hosting office hours from 3 to 5 p.m. on the first Monday of each month at the WESST Enterprise Center in Albuquerque so entrepreneurs can seek information and advice about financing and angel investing.

On a mission

New Mexico Angels are affluent individuals and groups of individuals that invest their own money into growing businesses in expectation of sharing the prosperity when that company attains market leadership and goes public or is sold. In return for taking that risk, angel investors seek outstanding returns within a short period.

The companies that typically benefit from angel investment are startups or companies poised for rapid growth. Such companies lack the track record to qualify for traditional loans, and this makes angel investors an important resource for entrepreneurs looking for sufficient capital to take a business to the next stage.

Angel investors are not as risk-averse as institutional lenders, but they attempt to minimize their losses by doing a substantial amount of due diligence before investing. And, because they have a stake in the enterprise, angel investors expect to assist the business by serving on its board, offering contacts and sharing their business and investment expertise.

NMA is not a venture fund and doesn’t make direct investments. Rather, it’s an intermediary between the entrepreneur and the angel investors in its network, negotiating terms and brokering deals. But the organization collaborates with many national venture-capital firms; if additional financing is necessary after the initial capital infusion, NMA will help the company connect with potential later-stage investors.

NMA has invested more than $11.5 million in New Mexico businesses in the 17 years since its formation.

A good match

NMA’s entrepreneurial advocacy is compatible with the goals of WESST, and the new collaboration makes sense for both organizations.

WESST has nurtured and financed small businesses since its formation, offering loans and advice to aspiring entrepreneurs in six sites around the state and providing a space for emerging businesses at its mixed-use incubation facility in Downtown Albuquerque. Some of the money available for WESST loans comes from the New Mexico Small Business Investment Corp., the organization that manages a self-sustaining fund designed to promote economic development by providing equity and debt capital to small businesses around the state.

The NMA office hours at the Enterprise Center – with WESST employees also available to answer basic questions about starting or growing a business – allow entrepreneurs one-stop shopping for a full range of services. No reservation is needed, as the service is first come, first served.

For more information about the New Mexico Angels office hours, visit www.wesst.org/event/nm-angels-office-hours-at-wesst/.

Finance New Mexico assists individuals and businesses with obtaining skills and funding resources for their business or idea. To learn more, go to www.FinanceNewMexico.org.


Home » Business » Business Columns » Executive’s Desk: Office hours boost NM Angels’ accessibility

Insert Question Legislature form in Legis only stories

Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

ABQjournal can get you answers in all pages


Questions about the Legislature?
Albuquerque Journal can get you answers
Email addresses are used solely for verification and to speed the verification process for repeat questioners.
The robot revolution is here: Local businesses gear up ...
Cafecito is the latest New Mexico ... Cafecito is the latest New Mexico business to utilize robots following the BioPark's restaurant, the Shark Reef Café, and Flix Brewhouse
Two utility cases, two different outcomes
ABQnews Seeker
Why did New Mexico’s Public Regulation ... Why did New Mexico’s Public Regulation Commission approve an El Paso Electric buyout, then scrutinize and reject PNM’s merger a year later?
Want to preserve health entitlements? Bend cost curve
ABQnews Seeker
COLUMN: Our nation’s future seems burdened ... COLUMN: Our nation’s future seems burdened by the rising costs of entitlements. So, we ask, is this future set in stone, or can it ...
Sandia Speedway has new owners, a new name and ...
ABQnews Seeker
A group of local motorheads bought ... A group of local motorheads bought Sandia Speedway earlier this year, and have been renovating the track, now Suika Circuit.
Anatomy of a health systems 'marriage' proposal
ABQnews Seeker
As the saying goes: It's not ... As the saying goes: It's not what you know, it's who you know.
Median sales price increases slightly for ABQ metro single-family ...
ABQnews Seeker
The median sales price of a ... The median sales price of a single-family detached home and days on market until sale both increased in Albuquerque's metro area in February, but ...
‘A sense of humor comes in handy’: Head of ...
ABQnews Seeker
Rebecca Sanford is president & CEO ... Rebecca Sanford is president & CEO of Adelante Development Center Inc.
Dr. Mark Bryniarski has joined Lovelace Medical Group
ABQnews Seeker
BRIEFCASE: He is a board-certified neurosurgeon. BRIEFCASE: He is a board-certified neurosurgeon.
Contact employers directly to share why you are switching ...
ABQnews Seeker
ADVICE: Don't be the rookie; be ... ADVICE: Don't be the rookie; be the easy hire.