Alternative Fuel Vehicle Loan Program

NM Loan Program local government schools state government institutional

Administered by: New Mexico Department of Energy, Minerals, and Natural Resources

Quick Summary

This loan program is not available to individual homeowners. It provides financing only to state government agencies, local government entities (such as counties and municipalities), schools, and educational institutions for purchasing medium-duty and heavy-duty electric vehicles. If your organization qualifies, contact the New Mexico Department of Energy, Minerals, and Natural Resources for loan application details.

AI-generated summary • Updated 7/12/2026

Program Details

Program ID: 22205
Last Updated: 5/21/2025

Eligibility

Eligible Sectors

local government schools state government institutional

Eligible Technologies

medium-duty electric vehicles heavy-duty electric vehicles

Incentive Amount

$5 million

Program Summary

The Alternative Fuel Acquisition Loan Fund was created in the state treasury as a revolving loan fund. The fund balance does not exceed $5 million and is administered by the New Mexico Department of Energy, Minerals, and Natural Resources. The loans are for the state government, political subdivisions, and educational institutions. For more information, visit the program website.

Contact & Resources

Additional Resources

https://www.emnrd.nm.gov/ecmd/alternative-fuels/

Please verify current program details with the administering agency before making any financial decisions.