Colorado Revolving Loan Fund

About this funding opportunity

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1 Colorado Revolving Loan Fund Program Summary

The Colorado Revolving Loan Fund provides loans that help small to medium-sized Colorado businesses negatively impacted by the COVID-19 pandemic. These loans range from $5,000 to $750,000. These loans are intended to provide startup and working capital that will help create and retain jobs across the state of Colorado.

The maximum interest rate is 10%, and the expected average interest rate of these loans is 4%. Loans may be character-based and may have terms up to 20 years based on the type of loan.

This fund prioritizes socially and economically disadvantaged businesses and non-profits. We will work with community-based organizations to reach people, and extend effort to assist and qualify these types of businesses including using non-traditional underwriting criteria such as character-based lending and providing bi-lingual support where possible.

These loans are funded by the US Department of Commerce's Economic Development Administration and is administered by these Colorado-based nonprofit lenders: B:Side Fund (formerly Colorado Lending Source) Colorado Enterprise Fund Region 9 Economic Development District of Southwest Colorado Overview

Type: Loans

For: Startups and small to medium-sized businesses

Amount: $5,000 to $750,000

Application deadline: Rolling

OEDIT division: Business Funding and Incentives Eligibility

Eligible organizations include any registered for-profit business and non-profit organizations.

Borrowers can come from a wide variety of business sectors including outdoor recreation, tourism, food services, hospitality, and creative organizations. To the extent permitted by federal law and regulation, we hope to provide loans to USDA-certified hemp businesses and value-added hemp manufacturing businesses.

This fund places a special focus on serving historically underserved market segments and customer groups which include: minority Native American or…

Topic areas: Public Policy and Governance, Circular Economy and Sustainability, Social Innovation and Community Development, Workforce Development.

Funding amount

This other provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Colorado Revolving Loan Fund is administered by Colorado Office of Economic Development and International Trade (OEDIT), listed via Colorado Office of Economic Development and International Trade.