‘The lifeblood’ of New Mexico: SBA winners show importance of small business

By Matthew Narvaiz

Hacienda Home Centers Vice President Joseph Sanchez, left, and President Gary Sanchez at their store in Albuquerque. The company was awarded the New Mexico family-owned small business of the year by the U.S. Small Business Administration. (Jon Austria/Journal)

The company has three locations in New Mexico — Española, Las Vegas and Albuquerque — and sells products such as building materials and HVAC supplies. Sanchez said when Lowe's came into Española more than a decade ago, it created a challenge for the locally- and family-owned business. But the company prevailed, largely due to its brand loyalty among locals and its willingness to diversify clientele — it contracts with government entities such as the City of Albuquerque and Los Alamos National Laboratory. The success of these two businesses has earned them recognition. Armijo was named New Mexico small business person of the year by SBA, while Hacienda Home Centers was awarded the New Mexico family-owned small business of the year. They join a dozen other local businesses and business leaders who will receive awards from SBA during small business week. "Our district office is proud to spotlight some resilient New Mexico entrepreneurs that have grown and worked through the economic crisis brought on by the pandemic," New Mexico SBA District Director John Garcia said. "I hope their stories inspire the next generation of entrepreneurs." According to a recent report from SBA, there are 161,921 small businesses in the state. Some of those businesses have taken advantage of capital offered by SBA, to the tune of $199,561,556 in FYE 2022.