BANKS
J.P. STONE BANK (575) 356-6601 109 East 2nd Street Portales, NM 88130 website |
NM BANK & TRUST (575) 356-1060 1612 E. Spruce St. Portales, NM 88130 website |
STATE FARM BANK (575) 356-8503 310 South Main Avenue Portales, NM 88130 website |
US BANK (575) 359-1256 400 West 1st Street Portales, NM 88130 website |
WELLS FARGO BANK (575) 359-3600 316 West 2nd Street Portales, NM 88130 wellsfargo.com |
WESTERN BANK (575) 356-3095 203 South Main Avenue Portales, NM 88130 www.wbclovis.com |
CREDIT UNIONS
FIRST FINANCIAL CREDIT UNION
(575) 356-5530
700 West 2nd
Portales, NM 88130
website
OTHER FINANCING & INCENTIVES
INDUSTRIAL REVENUE BONDS
It is the policy of the city to encourage the relocation or expansion of manufacturing, industrial or commercial enterprises in or within fifteen (15) miles of the corporate limits thereof, and to that end to issue revenue bonds pursuant to the Commercial and Industrial Projects Bond Act, Laws 1955, Chapter 234.
LOCAL ECONOMIC DEVELOPMENT ACT
The goals, identified in City of Portales Ordinance 646, include the following:
LODGER'S TAX
- Working with existing businesses to improve the general business climate in order that they may be successful in retaining employees and creating new jobs through expansion.
- Recruit business and industry to expand the local economy and increase employment.
- Develop adequate infrastructure for growth and development.
The City of Portales imposes a five (5) percent of gross taxable rent for lodging within the City limits. Half of the proceeds may be used to defray the costs of collecting and otherwise administering the tax and acquiring, improving and equipping convention and recreation facilities. The remaining half of the proceeds shall be used for advertising, publicizing and promoting such recreational facilities of the City and tourist facilities therein.
PORTALES MAINSTREET PROGRAM FACADE IMPROVEMENT GRANT
(575) 356-6662
P.O. Box 302
100 West 1st Street
Portales, NM 88130
STATE RESOURCES
FEDERAL LOAN PROGRAMS
INDUSTRY FINANCING & INCENTIVES
TAX CREDITS |
HOUSING |
Various tax credits are available from the following New Mexico State Departments: | Information for Housing can be found by visiting the following: |