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  • January 07, 2020

Loan Helps an Anytime Fitness Location Open in Las Vegas, New Mexico

FHLB Dallas Provides Assistance for Owners' Second Location

LAS VEGAS, NEW MEXICO, January 7, 2020 – For three New Mexico entrepreneurs, the Small Business Boost (SBB) program offered by the Federal Home Loan Bank of Dallas (FHLB Dallas) did exactly what it was intended to do. It helped them qualify for a loan to purchase, renovate and open their second Anytime Fitness gym.

Business partners Isaac and Justin Montoya, who are not related, and Devan DeHoff would have come up a little short of qualifying for their small business loan from Community 1st Bank Las Vegas without the assistance provided by the SBB program.

"We almost qualified for the full loan," said Isaac Montoya of his company, Team Guys, LLC. "But we didn't have the extra collateral for the full loan. The SBB program was the make-it-or-break-it piece."

SBB is a program offered by FHLB Dallas through members like Community 1st Bank Las Vegas. The program provides financing for qualified small business transactions by filling the gap between the amount an FHLB Dallas member can provide and the loan request made by an eligible small business. SBB loans are unsecured and subordinate to the primary loan made by the member to meet the financing needs of the small business when there is a lack of equity or shortfall in collateral.

The Montoyas and Mr. DeHoff bought a location owned by Community 1st Bank, renovated it, equipped it and held a soft opening on December 13, 2019. They were recently joined by representatives from Community 1st Bank Las Vegas and FHLB Dallas for the grand opening and ribbon cutting.

Their first Anytime Fitness location opened in July 2018 in EspaƱola, New Mexico. Their firm employs between 16 and 20 individuals in EspaƱola and the partners hope to build up to the same number in Las Vegas.

Mike Melton, executive vice president of Community 1st Bank Las Vegas, said the SBB loan that made the new business possible is a win on many fronts: "The new Anytime Fitness gym is a great new use for the building they purchased. And one of the owners, Justin Montoya, grew up right here in Las Vegas. I'm so glad the Small Business Boost program was available to help us close the gap on this loan to Team Guys, LLC. Now we have a new business in town that we might not have had without the SBB program from the Federal Home Loan Bank of Dallas."

Greg Hettrick, first vice president and director of Community Investment for FHLB Dallas, said the situation that the three business partners found themselves in is not uncommon.

"Small businesses often find themselves a little short of the funding they need to develop their businesses," he said. "It was exactly for this reason that we created the SBB program, which is intended to help our member institutions fill the gap between what they can lend a small business and what that business needs."   

SBB offers an unsecured loan that the borrower does not begin to repay until after the first year. This feature is designed to help a small business build critical cash flow during the first year of the loan.

"It really did make the difference for us," said Justin Montoya. "We are super grateful and super excited."

About Community 1st Bank Las Vegas
With three locations in Las Vegas and one in Mora to serve our customers on-the-ground, and with our great website to serve our customers anywhere in the world, we at Community 1st Bank Las Vegas feel that we have all the bases covered with our wide range of products and our excellent customer service. The bank was started and continues to adhere to the philosophy of serving the people and businesses that call this corner of New Mexico home. We invite all to stop by and see how we can help them with their banking needs.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $73.8 billion as of September 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 815 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit

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Contact Information:

Corporate Communications
Federal Home Loan Bank of Dallas