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Colorado Lending Source | Apr. 28, 2021

Microloans up to $50,000 for Eligible Businesses

In partnership with the Office of Economic Development & International Trade, Colorado Department of Local Affairs, Colorado Enterprise Fund and Region 9 Economic Development, we have launched the Colorado Revolving Loan Fund. The program is open to ALL eligible existing businesses and nonprofits located in Colorado who meet the criteria below.

Priority groups include: Minority-owned, Native American or Tribal-owned, Immigrant-owned, Disabled-owned, Women-owned, Veteran-owned, Employee Ownership & Business Transition, Business located in Low Income Communities, Opportunity Zones and Rural-Based Communities. 

*Rural-Based Communities include businesses located in the following counties: Alamosa, Archuleta, Baca, Bent, Chaffee, Cheyenne, Clear Creek, Conejos, Costilla, Crowley, Custer, Delta, Dolores, Eagle, Elbert, Fremont, Garfield, Gilpin, Grand, Gunnison, Hinsdale, Huerfano, Jackson, Kiowa, Kit Carson, La Plata, Lake, Las Animas, Lincoln, Logan, Mesa, Mineral, Moffat, Montezuma, Montrose, Morgan, Otero, Ouray, Park, Phillips, Pitkin, Prowers, Rio Blanco, Rio Grande, Routt, Saguache, San Juan, San Miguel, Sedgwick, Summit, Teller, Washington or Yuma.

Loan Details:

  • Up to $50,000
  • Wall Street Journal Prime + 2.00% fixed interest rate
  • Five or Seven year term
  • Origination fee of up to 4% plus wire transfer of $15 will be withheld once loan funds
  • No prepayment penalty
  • Loan must create or retain one job for every $25,0000 in loan funds received

If You Are:

  • Located in a rural community*, please contact Region 9 Economic Development to request their application for this program. 
  • An early stage business that has been in operation for less than two years, a non-profit entity, or are interested in a loan over $50,000, please contact Colorado Enterprise Fund to request their application for this program.

Once you've completed our application, please email it to [email protected]

Access Application Here

Colorado Revolving Loan Fund | Blog | Colorado Lending Source

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