Areas Served: Delta, Gunnison, Hinsdale, Montrose, Ouray and San Miguel counties
Since its creation in 1984, Region 10’s Business Loan Fund (BLF) has loaned over $8.6 million dollars to over 225 businesses and non-profits.
Applications are accepted from businesses located within Region 10’s six counties (Delta, Gunnison, Hinsdale, Montrose, Ouray and San Miguel counties).
Loan amounts typically range from $5,000 to $250,000 or more, with fixed rate terms usually less than than 10 years.
The BLF is interested in loans that create or retain jobs or that establish or expand businesses needed in our growing regional economy.
Loans to new and existing businesses can be used for:
- Working Capital
- Equipment
- Inventory
- Real Estate
- Other supportable expenditures
Loans are not available for:
- Personal use
- Gambling
- Real Estate Development
- Any speculative purpose
- Financing is typically provided through secured term loans at favorable rates.
Owner equity, secondary source of repayment and personal guarantees are required.
Business entities eligible for BLF funds include:
- Sole Proprietorships
- Partnerships
- Corporations
- Limited Liability Companies
- Non-Profits
- Local Governments and Special Districts
Currently funds used by Region 10 are applied for and may be received from the following federal and state programs.
– Colorado Development Block Grants (CDBG) – Small Business Administration (SBA) Microloan Program – USDA Intermediary Relending Program (IRP) – Repaid or “Revolved” Loans – Each source can have different application, documentation, funding, reporting and eligibility requirements
Contact InformationRegion 10 LEAP for Economic Development
Address: 300 North Cascade Street, Suite 1
City: Montrose
State: Colorado
Website:
http://www.region10.net/blf/
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