Areas Served: Arvada County
The Arvada Revolving Loan Fund (RLF), a program of the Arvada Economic Development Association (AEDA), is designed to provide financing to small businesses locating to or expanding to Arvada, Colorado.
Businesses not able to obtain financing through conventional funding may apply for gap financing.
For this purpose, gap financing relates to the gap between the total amount needed for the project and what the borrower is able to assemble through traditional sources.
Purpose The objective of the RLF is to assist Arvada businesses or businesses locating to Arvada, and in doing so create jobs, increase sales and property taxes, encourage renewal efforts in certain areas and encourage investment by a business in real property and equipment.
Loans may be requested for public improvements, building upgrades, renovations or expansions.
Terms of Loan The RLF provides a low interest, amortized loan, repayable to Arvada Economic Development Association.
Monthly payments of principle and interest are to be made with up to 5 years to pay back.
The interest rate is a fixed 5% per year.
The minimum loan is $2,500 and the maximum amount is $100,000. The amount approved is dependent on the type and size of the company, net worth of the business and its ability to repay the loan.
Contact InformationArvada Economic Development Association
Address: 8101 Ralston Roa
City: Arvada
State: Colorado
Website:
http://static.arvada.org/docs/1318949601Revolving_Loan_Fund.pdf
Leave a Reply