Spring Oaks Capital, LLC Expanding to greater Albuquerque and Creating 200+ New Jobs

(ALBUQUERQUE, N.M.) May 15, 2024 – Greater Albuquerque just scored some new Lobo fans and some tremendous career opportunities for existing ones, with the announcement of Spring Oaks Capital LLC’s decision to create 200 new jobs in the region with starting salaries at $20 per hour. This new operation will deliver a total economic impact to the region of $33.6 million in its first three years alone.

After a series of visits to competing markets for Spring Oaks Capital’s first expansion location outside of its headquarters in Virginia, and a detailed exploration of facilities and getting to know the greater Albuquerque community and workforce resources, it was decision time. The AREA team found out that Spring Oaks Capital selected the community with a surprise Zoom call and seeing Spring Oaks Capital’s leadership wearing a Lobo hat to announce their decision. It was the type of moment that economic developers live for.

In addition to the comprehensive site visit to the region facilitated by the AREA team which included a number of partners such as the state of New Mexico Economic Development Department and the New Mexico Partnership, Mayor Tim Keller and the City of Albuquerque Economic Development Department quickly expressed their support of new business investment and ensured a smooth planning and permitting process to get them up and running quickly.
“Spring Oaks Capital’s decision to expand in Albuquerque and create new jobs in our community is another step forward for Albuquerque,” said Economic Development Director Max Gruner. “These new job opportunities will help support local families and provide valuable career pathways for students and young professionals. This decision reflects the strength of our city’s economy and the skill of our workforce.”

Spring Oaks Capital is a well funded, growing firm that is expanding with a best-in-class team that they will be building in greater Albuquerque.
Tim Stapleford, President & CEO, commented, “After a national search for our second office facility, we couldn’t be more excited to call Albuquerque our new home. We were instantly impressed with the sense of community and partnership we experienced from everyone we met. The rapid growth of Spring Oaks Capital has been based on our commitment to providing high quality jobs and a collaborative, supportive work environment for our employees, and we look forward to becoming a part of the growing, vibrant Albuquerque business community.”

The operations will be located at 4420 The 25 Way, Albuquerque, NM 87109, a central location in the community for job seekers searching for a comfortable commute and a premier office experience. Employee satisfaction is a key driver of the company’s overall success and goes hand in hand with providing employee benefits that align with their needs and priorities. In addition to a competitive hourly wage paid weekly, Spring Oaks Capital offers full time employees a robust benefits package that includes Company paid medical, dental, vision, life insurance, short/long term disability, employee assistance program and an employer funded HSA plan. Additional benefits include a wellness program, paid holidays, paid time off, paid parental leave, and 401(k) company matching.

Kelly Tero-Schmidt (MiCP) and Walt Arnold (CCIM, SIOR) of SVN/Walt Arnold Commercial Brokerage, were the brokers subleasing the property at 4420 the 25 Way. They toured the space with Spring Oaks Capital, a company AREA was working with in a site selection process. Spring Oaks Capital made the decision to choose Albuquerque and 4420 the 25 Way as their future location. “AREA was diligent throughout the entire process and continued to provide extremely valuable services during the lease negotiations. Thank you AREA for bringing another quality business to Albuquerque,” added Arnold.
Danielle Casey, President and CEO of AREA, commented “Working with Site Selection Group as well as Spring Oaks Capital to make the case for our region for their expansion was an absolute pleasure, enhanced by the many amazing partners in the community who came to the table to participate in discussions and demonstrate that our region is the place to be.”

“We are thrilled to welcome Spring Oaks Capital to Bernalillo County. As we tell our regional economic development story, it is always a win to find a connection to those companies who value our community and workforce as we do. We wish Spring Oaks Capital a smooth expansion to central New Mexico and continue to make ourselves available for however we can assist them to thrive as a business in Bernalillo County,” said Marcos Gonzales, Bernalillo County Executive Development Officer.

Job Seekers wanting to know more about the roles available and to apply can view them at www.abq.org/jobs. Future hiring events and a formal ribbon cutting following the opening of the new Spring Oaks Capital offices will be announced on the www.abq.org website, social media channels and at www.springoakscapital.com.

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About Spring Oaks Capital, LLC

Spring Oaks Capital, LLC, headquartered in Chesapeake, Virginia, is a national debt buyer founded in 2019 by industry veterans determined to disrupt the industry and approach the charge-off purchasing market with a technology-focused, innovative, and refreshing vision. Particularly, senior leadership includes tenured industry executives with a meaningful history running investments, collections, compliance, and operations for some of the largest debt buyers, collection firms, and financial institutions in the United States. The Company maintains an unmatched compliance focus, ethically collecting portfolios with a team-based approach. Spring Oaks is well funded, poised for aggressive growth, and is currently looking to expand with the best-in-class collections team to support growth.

About AREA
The Albuquerque Regional Economic Alliance is a 501(c)(3) nonprofit organization whose mission is to lead and execute strategies designed to grow and diversify the economic base of the greater Albuquerque region, creating a prosperous, diverse and inclusive economy and elevating the standard of living for all. AREA provides confidential assistance to businesses considering the area for expansion and new investment. Since its creation in 1960, AREA has recruited more than 250 companies and more than 35,000 jobs to the Albuquerque metro area. AREA also provides retention and expansion assistance to existing industry. For more information, visit ABQ.org

Contact: Joanie Griffin, jgriffin@sunny505.com, 505-261-4444