First Financial Credit Union
First Financial Credit Union is an active SBA lender in New Mexico, a credit union offering SBA-guaranteed small-business loans. Currently rated 3.9 stars across 136 Google reviews.
$7M
in SBA approvals since 2012
25
SBA loans funded
Hotels & Lodging · Restaurants & Food Service · General Retail
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About First Financial Credit Union
First Financial Credit Union offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on personalized service, they provide a range of loan options including SBA 7(a) loans, which are ideal for working capital, equipment purchases, and expansion projects. Located in Albuquerque, NM, this credit union is committed to helping local entrepreneurs access the capital they need to succeed. Their experienced team guides borrowers through the application process, ensuring clarity and efficiency from start to finish. Whether you're a startup or an established business, First Financial Credit Union strives to meet your unique financing needs with competitive rates and flexible terms. They also support various industries, emphasizing community development and economic growth in the region. Their SBA programs are designed to provide accessible funding solutions, making them a reliable partner for small business owners in New Mexico.
Common questions about First Financial Credit Union
What is this place and what can I find here?
This is a community-focused credit union offering a range of banking and SBA lending services to small businesses in Albuquerque. You can find personalized financial solutions, expert guidance, and access to SBA 7(a) loans designed to support business growth and development.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated service, but walk-ins are also accommodated depending on availability. Calling ahead can help streamline your visit and prepare the necessary documents.
What are the hours of operation?
Most First Financial Credit Union locations operate Monday through Friday from 8:50 AM to 5:00 PM or 6:00 PM, with Saturday hours 9:00 AM to 2:00 PM. Confirm exact hours for your specific branch directly with the credit union.
Is there a fee to use this?
There may be fees associated with certain banking services or loan processing, but standard account access is generally free. Details on specific fees can be obtained during your consultation.
Who is this open to — anyone, or only residents/members?
Membership is generally limited to residents of the Albuquerque area or those who qualify for membership through certain employment or community affiliations. Small business owners within the region are welcome to apply.
What minimum personal credit score does this lender look for in a guarantor?
A minimum personal credit score of around 640 is typically considered for SBA loan qualification, though higher scores can improve approval chances.
How long does the traditional underwriting process take from start to close?
The underwriting process usually takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.
Is this open on weekends?
Yes, First Financial Credit Union branches are open on Saturdays from 9:00 AM to 2:00 PM, but closed on Sundays. Confirm with your local branch for any holiday closures.
How do I get there and where do I park?
First Financial Credit Union is located in New Mexico — see the contact card for the full address. Most credit union locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for First Financial Credit Union, an SBA-participating credit union. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First Financial Credit Union itself, which runs its own lending under its own ownership. If you work at First Financial Credit Union, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for First Financial Credit Union — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with First Financial Credit Union before applying. If you represent First Financial Credit Union, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach First Financial Credit Union by phone at (505) 766-5600 or online at ffnm.org — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with First Financial Credit Union before relying on them.
What core industries does this lender traditionally choose to finance?
Like most SBA lenders, First Financial Credit Union can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each credit union sets its own industry preferences and may avoid sectors it considers higher risk. Ask First Financial Credit Union directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this lender?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether First Financial Credit Union participates in SBA Express depends on its specific SBA lending authority. Contact First Financial Credit Union and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this lender have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established credit unions hold PLP status, but it varies by institution. First Financial Credit Union can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this lender?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. First Financial Credit Union's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First Financial Credit Union directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask First Financial Credit Union what down payment it expects for your specific commercial real estate purchase.
Does this lender impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask First Financial Credit Union to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this lender to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with First Financial Credit Union to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. First Financial Credit Union weighs this case by case under its own policy, so be upfront about your history and ask First Financial Credit Union how it evaluates prior bankruptcies.
