Community Development Block Grant Business Loan

Program Summary

Each year, the U.S. Department of Housing and Urban Development (HUD) provides Colorado with funding through the State Community Development Block Grant (CDBG) program for community and economic growth. One-third of these funds are allocated specifically for Economic Development, which are used to aid the State’s Business Loan Funds.

These funds are distributed across 12 Regional Business Loan Funds dedicated to job creation and retention throughout rural Colorado. Each Loan Fund is led locally with their own Business Loan Fund Manager, local loan review committee and local board of directors.

Overview

Type: Loan

For: For-Profit Businesses

Application deadline: Rolling

OEDIT division: Business Funding and Incentives

Business Loan

The Community Development Block Grant Business loan aids businesses in rural areas by providing loans and loan guarantees. A business must create or retain one job for each $35,000 received in CDBG loan funds, filling at least 51% of the jobs created and/or retained with low-to-moderate income individuals.

Microenterprise Loan

To qualify for a Microenterprise Loan, a business must have five or fewer employees, including ownership, and all owner(s) must qualify as low-to-moderate income persons. These loans are available up to $100,000.

All loans are available at the discretion of the regional Business Loan Fund Managers.

To inquire, please contact the Business Loan Fund Manager located within your region.

Contact your Regional Business Loan Fund Manager.

If your business is in one of these areas, it is not eligible for this program:

Ineligible Counties: