Welcome to Southwest Capital Bank
Routing Number: 107000372
To Our Valued Customers: In accordance with NMDOH and CDC guidance, all individuals, regardless of vaccination status, are highly encouraged to wear a face covering and social distance at least 6 feet apart.
The SBA has provided a statement on exhausted PPP funds:
After more than a year of operation and serving more than eight million small businesses, funding for the bi-partisan Paycheck Protection Program has been exhausted. The SBA will continue funding outstanding approved PPP applications, but new qualifying applications will only be funded through Community Financial Institutions, financial lenders who serve underserved communities. The SBA is committed to delivering economic aid through the many COVID relief programs it is currently administering and beyond.
Unfortunately, at this point it is not clear whether the pending applications in the queue with SBA will be reviewed or not unless more funds are allocated. There has been a portion of funds set aside for Community Development Financial Institutions (CDFI) and Minority Depository Institutions (MDI), however most banks, including Southwest Capital Bank, do not carry either of these designations. We have included two links below to assist in finding a lender who may be able to process your application if you would like to pursue a PPP loan elsewhere. In the meantime we will monitor the SBA portal until there is either a change to your application status (if you would like to wait), or until you request that we withdraw your submission in order for another lender to submit a new one for you.
• A list of MDIs can be found here.
• A list of CDFIs, as of October 14, 2020, can be found here.
This has been a fast moving development. And we are still learning more hourly from SBA on the programs status. If you have any questions, please do not hesitate to contact us. We will do our best to provide you with answers as they become available.
Connect with us! Customer Support: (505)247-7922 | Toll Free: 1-800-748-2406 | Email: firstname.lastname@example.org