Apr. 30—When Lynn Armijo took over her father's business in December 2012, it was on the brink of extinction.

The recession had put her father "upside down on his building" and in the years following, his friendly nature didn't help the company, Four Winds Mechanical, get back in good financial standing.

But Armijo took on the challenge. She got in touch with the U.S. Small Business Administration and started taking classes. She also joined a bonding program that helped her get smaller jobs. That path eventually led to bigger jobs.

"It was bankruptcy for my parents or me basically trying to save the company in the worst financial situation you can possibly be in," Armijo said.

Joseph Sanchez, the vice president of Hacienda Home Centers, doesn't have the same story but the business he helps lead has faced similar challenges. 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.

Armijo and the leadership at Hacienda Home Centers will be honored this Friday in Albuquerque. 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.

Four Winds Mechanical, which has a focus on commercial construction, has grown because of certain SBA programs. Because of the help it has received, the company has seen revenue increase ten-fold since Armijo took over. In 2022, revenue was 250% more than it was in 2021. And the company has also given back to employees — Four Winds Mechanical paid out roughly 33% of net profit to its employees in bonuses last year.

For Armijo, winning the small business person of the year award is more than just winning — it's opening the doors for more women to join the construction industry.

"If people see more women business owners in construction, the barriers to entry for women in construction will decrease," she said. "We need women in construction because the trades are starving for workers."

Sanchez says family-owned businesses like his keep money in the community.

"Small businesses are the lifeblood of many of the communities that they occupy," Sanchez said. "And as large corporations come in, they don't sponsor their local Little League teams and basketball leagues. ... That money goes out of state and in New Mexico, every dollar counts."