Community Development Block Grant Business Loan
The CDBG Business Loan program funds rural Colorado businesses to drive job creation and economic growth, especially benefiting low-to-moderate income individuals and microenterprises.
Funder: Department of Local Affairs
Due Dates: Rolling
Funding Amounts: Loan amounts vary by project and region; microenterprise and standard business loans available.
Summary: Supports rural Colorado businesses with loans to foster job creation/retention and benefit low-to-moderate income individuals.
Key Information: Applications are managed by regional Business Loan Fund managers; terms and eligibility may vary by region.
Description
The Community Development Block Grant (CDBG) Business Loan program, administered by the Colorado Department of Local Affairs (DOLA), provides loans and loan guarantees to support economic development in rural areas of Colorado. The program is designed to promote job creation and retention, with a focus on benefiting low-to-moderate income individuals. Microenterprise loans are also available for very small businesses, offering more flexible requirements. The program is managed locally through 12 regional Business Loan Funds (BLFs) that tailor financial assistance to the unique needs of their communities.
