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Lynn Armijo was on the brink of bankruptcy when she took over her father’s business in December 2012.
The failure “turned her father upside down” and in the years that followed, his giving and friendly demeanor did nothing to help the company, For Wind Mechanical, return to good financial standing.
But Armijo took the challenge. She contacted the US Small Business Administration and began taking classes. She also joined a bonding program that helped her find small jobs. That path eventually led to bigger jobs.
“It was a no-brainer for my parents or me, basically trying to save the company in the worst financial situation you can have,” Armijo said.
Hacienda Home Centers Vice President Joseph Sanchez doesn’t have a similar story, but the business he helps run faces similar challenges. The company has three locations in New Mexico – Española, Las Vegas and Albuquerque – and sells building materials and HVAC supplies.
Sanchez Lowe said when he came to Española a decade ago, he faced a challenge for the local and family-owned business. But the company won out largely because of brand loyalty among local residents and a desire to expand its clientele—it has won 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 awarded New Mexico Small Business Person of the Year by the SBA and Hacienda Home Centers was awarded New Mexico Family Owned Small Business of the Year.
Armijo and his leadership at Hacienda Home Centers will be honored this Friday in Albuquerque. They will join dozens of other local businesses and business leaders who will receive awards from the SBA during Micro Business Week.
“Our district office is proud to showcase some of New Mexico’s strongest entrepreneurs who have grown and worked through the economic crisis brought on by the pandemic,” said New Mexico SBA District Director John Garcia. “I hope their stories inspire the next generation of entrepreneurs.”
According to a recent report from the SBA, there are 161,921 small businesses in the state. Some businesses have used up to $199,561,556 in capital provided by the SBA in fiscal year 2022.
Four Winds Mechanical, which specializes in commercial construction, grew as a result of certain SBA programs. Because of the help he received, the company saw a tenfold increase in revenue after Armijo took over. In the year In 2022, the revenue is 250 percent higher than in 2021. The company also gives back to its employees – Four Wind Mechanical paid out 33 percent of its net profit to its employees in bonuses last year.
For Armijo, it’s not just winning the Small Business Person of the Year award – it’s opened the door for more women to join the construction industry.
“If people see more female business owners in construction, the barrier to entry for women in construction will decrease,” she said. “We need women in construction because the business is starving for workers.”
Sanchez said family-owned businesses like his keep money in the community.
“Small businesses are the lifeblood of many communities,” Sanchez said. “And when big corporations come in, they don’t support their local little league teams and basketball leagues. … That money goes out of state and every dollar counts in New Mexico.
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