Areas Served: Moffat, Routt, Jackson, Rio Blanco, Grand, Garfield, Eagle, Summit and Pitkin Counties, Colorado
The Northwest Loan Fund provides business assistance loans to small, and in many cases, home-based businesses in Colorado, that are unable to obtain financing through traditional sources for traditional business purposes; working capital, equipment, general support services.
Size of Micro-Loans: $1,000 to $30,000 Term of Loans: 1 year to 5 years Interest: Generally Prime to Prime + 2 Fees: – $50.00 Application Fee – 1% Loan Origination Fee Security: First lien on business assets, 1st, 2nd or 3rd Deed of Trust on Real Property Eligible Uses of Funds: Purchase of equipment, raw materials, inventory and/or working capital.
Refinancing of current debt may be considered on a case-by-case basis.
Funds cannot be used for any portion of purchasing real estate or construction.
Micro-Loan Program Requirements – Job creation requirement will be considered on a case-by-case basis.
– The business must have applied for, and have been denied financing from a traditional source.
– Owner equity in the project must be at least 20% (determined on a case-by-case basis) – Adequate collateral must be available to secure the loan.
(determined on a case-by-case basis) – The business must be located within the service area including Moffat, Routt, Jackson, Rio Blanco, Grand, Garfield, Eagle, Summit and Pitkin Counties, Colorado.
– The business must comply with environmental laws, rules, executive orders.
– The business must complete a standard application form.
Contact InformationNorthwest Loan Fund
Address: 249 Warren Avenue
City: Silverthorne
State: Colorado
Website:
http://nwc.cog.co.us/
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