ILGP Borrower Success Story: Indian Pueblo Cultural Center

Multiple Loan Guarantees, 1987-present
Lender: Several Local and Native Banks
Borrower: Indian Pueblo Marketing Inc.
Project: Indian Pueblo Cultural Center
Financing Amount: $15,000,000 (multiple loans)

Annual revenue started out less than $1 million and has now grown to over $30 million. The Indian Pueblo Marketing Inc. (IPMI) and Indian Pueblo Cultural Center (IPCC) have continued to increase opportunities for Native people. Today they employ close to 200 people, 44% are Native American. The Board of Directors is comprised of four tribal members and one Albuquerque business person. Top management positions for both corporations are also tribal members.

Retail development of the property continues to grow with entities such as Starbucks, restaurants, and a self-storage business. IPCC and IPMI growth and success has been realized through effective leadership, proper planning and the responsible use of programs such as the Indian Loan Guarantee and Insurance Program (ILGP).

It’s safe to say that obtaining financing for any of the IPMI or IPCC projects would not have been possible without the additional security of a loan guarantee provided by the Division of Capital Investment.