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There are a variety of local and state resources that can either supply capital or help a business find capital. Here are a few examples:

Rural Economic development Initiative (REDI)
The purpose of the Rural Economic Development Initiative (REDI) Program is to help eligible rural communities develop plans and undertake projects to create jobs, drive capital investment, and increase wages to help grow and create resiliency and diversity in the local economy. The program will fund:

  • Community asset analysis to determine potential economic development opportunities.
  • Stakeholder convening for solution development resulting in new or updated local plans.
  • Competitive grant funding for community infrastructure, business facilities and job training.

Click to learn more about the REDI Fund

Colorado Enterprise Fund (CEF)
Colorado Enterprise Fund is a nonprofit community development business loan fund. Since 1976, their purpose has been to foster economic opportunity and create jobs through business ownership and expansion. CEF has provided over 850 loans totaling over $17.2 million to Colorado businesses that are not able to obtain adequate bank financing. They support their borrowers with business counseling and technical assistance to ensure loan repayment and business success.

Colorado Lending Source (CLS)
The SBA 504 loan program is usually the BEST financing option around for owners who are buying, improving or constructing commercial facilities primarily occupied by their small businesses. The 504 loan program can also be used to finance long term capital equipment. Colorado Lending Source is primarily involved with packaging, closing, funding, servicing and liquidating SBA 504 loans , working directly with small business owners and lenders. In addition, they can also assist banks and lenders with packaging and processing SBA 7(a) loans too.
Northwest Loan Fund
The Northwest Loan Fund is a quasi-governmental agency that specializes in financing for start-up and young, expanding small businesses that are unable to obtain conventional funding due to the high risk associated with such businesses. The Fund focuses on projects which diversify the economy, create new jobs, and provide lasting community benefits.
Small Business Administration (SBA) Loan Programs
All SBA loan programs lend to small businesses unable to secure financing on reasonable terms through normal lending channels. The loan programs are operated through private-sector lenders that provide loans which are, in turn, guaranteed by the SBA — the Agency has no funds for direct lending or grants. Most private lenders (banks, credit unions, etc.) are familiar with SBA loan programs so interested applicants should contact their local lender for further information and assistance in the SBA loan application process.

ARC Loan Program If your small business is stressed meeting expenses during these economic times, the U.S. Small Business Administration has a new loan program designed just for you. SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability. Each small business is limited to one ARC loan. Click here for more information.
State of Colorado Business Financial Assistance Options
Colorado Office of Economic Development and International Trade (OEDIT) Business Finance Programs The Business Finance Division brings together several financing tools, including debt and equity financing, cash incentives, grants and tax credits to support economic development activities that improve and support employment opportunities in Colorado. Explore their website to learn more.
State of Colorado Venture Capital Authority (VCA)
In 2005, the VCA selected a fund manager (High Country Venture, LLC) and established its first fund of approximately $25 million (Colorado Fund 1). Colorado Fund 1 will make seed- and early-stage capital investments in business. The VCA anticipates the establishment of a second fund of approximately $25 million in 2010. State approval is limited to ensuring that businesses receiving funding meet specific requirements. The minimum and maximum investment size may generally range from $250,000 -$3.375 million.

For more information or an application, contact Roland Erickson, Manager, Venture Capital Authority.
U.S. Department of Agriculture (USDA)
The USDA’s Rural Development Division has designed loan and grant programs to spur business lending and commercial growth for small businesses in rural areas. These programs can help small businesses and entrepreneurs by loaning money for building and capital purchases.
Associated Governments of Northwest Colorado (AGNC)
Northwest Colorado Enterprise Zone
The Enterprise Zone program provides incentives for private enterprise to expand and for new businesses to locate in economically distressed areas of the state. Businesses located in an NW Colorado Enterprise Zone may qualify for up to nine Enterprise Zone Tax Credits that encourage job creation and investment. In Garfield County, the area extends from the western border of the county to New Castle.
Accion USA
ACCION USA helps qualified small businesses grow with affordable small business and start-up loans. They help you take a step towards building your credit, too, because they report to all three credit bureaus.

If interested in any of these funding options please contact the RREDC Office.