Business Loan Fund
PurposeThe Business Loan Fund (BLF) was established to assist small businesses within the five Southwest Colorado counties comprising Region 9. The main focus of the BLF is to promote business expansion in Southwest Colorado by creating or retaining employment opportunities for low to moderate-income persons. The loan funds are designed to leverage private funds in order to bridge the gap between monies and financing needed for the proposed project.
Who Qualifies?Before a BLF loan can be requested, the business in consideration must demonstrate that other financing alternatives have been exhausted or an insufficient rate of return exist to the business for the project to proceed. Job creation and/or retention also strengthen a project.
The purpose of the BLF is to support business activities for which credit is not otherwise available on terms and conditions which would permit completion and/or the successful operation or accomplishment of the project.
How Much Can I Borrow?The BLF funds should ideally be leveraged with other funds, consisting of either private financing, equity capital, or a combination of the two. The BLF target is to not exceed 33% of the entire loan package.
What Can I Use the Fund For?The BLF funds can be utilized for the following primary uses:
- Capital Equipment
- Working Capital
Other secondary uses are allowed with approval from the BLF Loan Committee.
Region 9 Economic Development District of Southwest Colorado, Inc.
Durango, Colorado 81303
(970) 247-9513 (fax)
For assistance with your application, business plan, or projection requirement, please contact the SW Colorado Small Business Development Center.Region 9 is an equal opportunity lender and employer.