Portales

Financing & Incentives

BANKS

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:

• 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.

LODGER'S TAX
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

• Financial Assistance Resource Listing

FEDERAL LOAN PROGRAMS

• Small Business Administration
• USDA Rural Development

INDUSTRY FINANCING & INCENTIVES