State of Colorado Business Loan Funds
Every year, the State of Colorado receives an allocation of federal funds from the Department of Housing and Urban Development (HUD) to use for both community development and economic development efforts in the state. The funds are allocated to the Department of Local Affairs (DOLA) which uses the funds for community development projects such as housing and public facilities. The Colorado Office of Economic Development and International Trade (OEDIT) receives approximately one-third (1/3) of the annual allocation of funds to use specifically for economic development efforts statewide.
OEDIT uses its allocation of funds to capitalize the state's Business Loan Funds. Currently, the state has 15 Business Loan Fund locations which have service areas covering the majority of the rural areas of the state. The state's program does not cover any of the metropolitan or 'entitlement' cities in Colorado (since these communities receive their own allocation of funds).
The 15 programs are responsible for promoting and fostering economic development efforts at the local level by providing financial assistance in the form of loans and loan guarantees to businesses in their respective regions. The loan program is locally driven, with each loan fund having its own local loan review committee and local Board of Directors who approve the types of businesses they feel will have a positive economic impact in the community. All funding decisions (of $100,000 or less) are made at the local level, with final oversight approval provided by OEDIT. All funding requests over $100,000 also require final approval by the Governor's Financial Review Committee.
Listing of Business Loan Fund locations
Following is a listing of each of the 15 Business Loan Fund locations, including information about the territories served by each loan fund, and the current administrator of the program.
REGION 1
Logan, Morgan, Washington, Yuma, Phillips & Sedgwick Counties
Northeastern Colorado RLF
Dan Simon
e-mail: ncrlf@centurytel.net
719 S. Main Street
PO Box 262
Yuma, CO 80759
(T) (970) 848-3150, (877) 459-4345
(F) (970) 848-3155
REGION 2
Larimer & Weld Counties
Upstate Colorado Economic Development
Eric Berglund
e-mail: eberglund@upstatecolorado.org
822 7th Street, Suite 550
Greeley, CO 80631
(T) (970) 356-4565
(F) (970) 352-2436
Website: http://www.upstatecolorado.org
REGION 3
Gilpin and Clear Creek Counties
Clear Creek Economic Development Corp.
Peggy Stokstad, Gayle Johnson
e-mail: clearcreekec@earthlink.net; clearcreeke1@earthlink.net
502 Sixth Street
PO Box 2030
Georgetown, CO 80444
(T) (303) 569-2133
(F) (303) 569-3940
REGION 4
El Paso Counties
Pikes Peak Regional Development Corp.
Douglas F. Adams, Christine Ressler
e-mail: dfa@pprdc.com; christine@pprdc.com
322 S. Cascade Avenue
Colorado Springs, CO 80903
(T) (719) 471-2044
(F) (719) 471-2042
Website: http://pprdc.com/
REGION 5
Elbert, Lincoln, Kit Carson and Cheyenne Counties
Prairie Development Corporation
MaryJo Downey
e-mail: jdowney@prairiedevelopment.com
128 Colorado Avenue
PO Box 202
Stratton, CO 80836
(T) 719-348-5562
(F) 719-348-5887
Website: http://www.prairiedevelopment.com/businessclimate/businessinvestment.htm
REGION 6
Crowley, Kiowa, Bent, Prowers and Baca Counties
Southeast Colorado Enterprise Development
Dan Tate
e-mail: seced@seced.net
112 W. Elm St.
PO Box 1600
Lamar, CO 81052
(T) (719) 336-3850
(F) (719) 336-3835
Website: http://www.seced.net
REGION 7
Pueblo Counties
Pueblo County Community Development Corp.
Aimee Tihonovich
e-mail: aimee.tihonovich@co.pueblo.co.us
215 W. 10th St.
Pueblo, CO 81003
(T) (719) 583-6541
(F) (719) 583-6068
Website: http://www.co.pueblo.co.us/econdev/
-or-
Southern Colorado Economic Development District (SCEDD)
1104 N. Main St.
Pueblo, CO 81003
(T) (719) 545-8680
(F) (719) 545-9908
e-mail: bill@scedd.com
Website: http://www.scedd.com/
REGION 8
Saguache, Mineral, Rio Grande, Alamosa, Conejos and Costilla Counties
San Luis Valley Development Resource Group
Michael Wisdom, Roni Wisdom
e-mail: wisdom@slvdrg.org; rwisdom@slvdrg.org
626 4th Street
PO Box 300
Alamosa, CO 81101
(T) (719) 589-6099
(F) (719) 589-6299
Website: http://www.slvdrg.org/
REGION 9
Dolores, San Juan, Montezuma, La Plata and Archuleta Counties
Region 9 Economic Development District of SW Colo.
Ed Morlan, Jenny Stollar
e-mail: ed@scan.org; jenny@scan.org
295A Girard Street
Durango, CO 81303
(T) (970) 247-9621
(F) (970) 247-9513
Website: http://www.scan.org
REGION 10
Delta, Gunnison, Montrose, Ouray, San Miguel and Hinsdale Counties
Region 10 League for Economic Assistance & Planning
Paul Gray, Paul Dunford
e-mail: paul@region10.net; pdunford@region10.net
300 North Cascade, Suite 1
PO Drawer 849
Montrose, CO 81401
(T) (970) 249-2436
(F) (970) 249-2488
Website: http://www.region10.net/
REGION 11
Mesa Counties
Western Colorado Business Development Corp.
Dean A. DiDario, Helen Roe
e-mail: deandd@gjincubator.org; hroe@gjincubator.org
2591 B 3/4 Road
Grand Junction, CO 81503
(T) (970) 243-5242
(F) (970) 241-0770
Website: http://www.gjincubator.org/
REGION 12
Moffat, Routt, Jackson, Rio Blanco, Grand, Garfield, Eagle, Summit and Pitkin Counties
Northwest Loan Fund
June Walters
e-mail: nlfjune@nwc.cog.co.us
249 Warren Avenue, Suite 201
PO Box 2308
Silverthorne, CO 80498
(T) (970) 468-0295, (800) 332-3669, Ext. 119
(F) (970) 468-1208
Website: http://nwc.cog.co.us/Programs/NWLoanFund/northwest_loan_fund.htm
REGION 13
Lake, Park, Chaffee, Teller, Fremont and Custer Counties
Upper Arkansas Area Development Corp.
Jeff Ollinger
e-mail: jeffolli@chaffee.net
PO Box 1212
Buena Vista, CO 81211
(T) (719) 395-2602
(F) None
Website: http://www.uaacog.com/uaadevelop.htm
REGION 14
Otero and Las Animas Counties
Otero/Las Animas Revolving Loan Fund
e-mail: bill@scedd..com
1104 North Main Street
Pueblo, CO 81003
(T) (719) 545-8680
(F) (719) 545-9908
REGION 15
Previously covered Logan County except for the City of Sterling
(Merged with Region 1)
REGION 16
Huerfano Counties
Huerfano County BLF
Huerfano County Commissioners
(T) (719) 738-2380
NOTE: The following cities and the unincorporated portions of Adams, Arapahoe and Jefferson Counties receive entitlement grants directly from HUD and DO NOT participate in the state program: Arvada, Aurora (only partially eligible), Bennet, Boulder, Bow Mar, Broomfield (only partially eligible), Brighton, Cherry Hills Village, Colorado Springs, Columbine Valley, Deer Trail, Denver, Edgewater, Englewood, Federal Heights, Fort Collins, Glendale, Golden, Grand Junction, Greeley, Greenwood Village, Lakewood, Littleton, Longmont, Loveland, Mountain View, Northglenn, Pueblo, Sheridan, Thornton, Westminster, and Wheat Ridge.
For further information, please contact:
Ken Gabriel, Manager, CDBG Business Programs
Colorado Office of Economic Development & International Trade
1625 Broadway, Suite 2700
Denver, Colorado 80202
(T) (303) 892-3840
(F) (303) 892-3848
1 (800) 659-2656 TDD
Secondary Contact:
Alice Kotrlik, Deputy Director
Colorado Office of Economic Development & International Trade
1625 Broadway, Suite 2700
Denver, Colorado 80202
(T) (303) 892-3840
(F) (303) 892-3848
1 (800) 659-2656 TDD