Commission approves loan commitment letter

Sharna Johnson Clovis’ city commission approved a $1.4 million loan commitment letter to develop Hotel Clovis into a residential property, but not without concerns. The approved letter shows the city is committed to extending a loan to Tierra Realty Trust LLC for development of the downtown building. Approved 6-2, commissioners Juan Garza and Randy Crowder […]

Farmers’ Electric receives $28.1 million USDA loan

The Associated Press CLOVIS — Farmers’ Electric Cooperative of Clovis is receiving a $28.1 million loan to upgrade its electric delivery system for seven counties in eastern New Mexico and three in Texas. The cooperative will use the money to expand service to current customers and extend service to new customers. It also will replace […]

Opinions mixed on new student loan law

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CNJ staff photo: Tony Bullocks Nicole Johnson of Clovis, a student at Clovis Community College, plans on going into the nursing program and will be using student aid and financial assistance to help her through school. By Clarence Plank: Freedom New Mexico A new law was signed Tuesday gives students a break with more money […]

Commission approves loan for wastewater pretreatment plant

By Sharna Johnson: CNJ staff writer The city commission approved a $728,661 loan Thursday as an advance on cash Southwest Cheese is expecting from the state to complete a wastewater pretreatment facility. Clovis Industrial Development Corp. Executive Director Chase Gentry told commissioners the plant was previously granted more than $800,000 through state appropriations. But in […]

Five C’s of credit help determine loans

By Sandra Taylor-Sawyer: Guest columnist What does it take to obtain a business loan? This is an important question for today. According to local lenders, important elements they consider are the five C’s of Credit: Character, capacity, capital, collateral, and conditions. Other C’s that can be used to evaluate a loan are customer relationship, competition, […]

Administration acts according to own agenda

Freedom New Mexico Apparently a perverse understanding of the meaning of the season got to President Bush as Uncle Santa announced a $13.4 billion loan (and another $4 billion likely early next year) to U.S. automakers General Motors and Chrysler. Even as most Americans are cutting back on the amount of Christmas shopping they’re putting […]

Personal financial statement routine procedure

By Sandra Taylor Sawyer: Guest columnist For the small business owner who is seeking financing it sometimes seems to come as a shock when a lender requests a copy of a personal financial statement and signing a release for a credit check. Most small businesses operate as sole proprietorships or partnerships and as such the […]

Community makes man’s dream possible

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CNJ staff photo: Tony Bullocks Peter Taylor, left, of Clovis and his case manager Jason Jouett listen Thursday as ENMRSH team members go over issues concerning the home that he will be moving into next month. By Keely McDowell: CNJ staff writer Peter Taylor had to overcome more obstacles than most to own a home. […]

VA loan ceilings may be on rise

By Tom Philpott: CNJ columnist With thousands of service members and veterans having lost homes or facing foreclosure as the mortgage crisis continues, lawmakers are pushing legislation to raise VA loan ceilings, lower VA funding fees and expand the VA’s ability to help veterans refinance loans they can’t afford. The Department of Veterans Affairs, meanwhile, […]

Loan concerns authority member

By Karl Terry: Freedom New Mexico Money has been tight and it’s going to be tighter in the short term for the Eastern New Mexico Rural Water Authority. At its monthly meeting Wednesday in Portales, the authority voted to rescind acceptance of two grant-loan agreements with New Mexico’s Water Trust Board, totaling $3.52 million. The […]