OED & IT Business Finance Programs

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Business Loan Funds

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 receives approximately one-third (1/3) of the annual allocation of funds to use specifically for economic development efforts statewide.

OED 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 fifteen 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 OED. All funding requests over $100,000 are reviewed directly by OED staff, with final approval by the Governor's Financial Review Committee.

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.

15 Business Loan Funds - Map

REGION 1
Logan, Morgan, Washington, Yuma, Phillips & Sedgwick Counties
Northeastern Colorado RLF
Dan Simon
PO Box 262
719 S. Main Street
Yuma, CO 80759
(T) 970-848-3150, 877-459-4345
(F) 970-848-3155
e-mail: ncrlf@starband.net
Website: http://www.northeasterncolorado.com/incentives.htm

REGION 2
Larimer & Weld Counties
Greeley/Weld Economic Development Action Partnership
Jean Daviet
822 7th Street
Suite 550
Greeley, CO 80631
(T) 970-356-4565
(F) 970-352-2436
e-mail: jdaviet@gwedap.org
Website: http://www.gwedap.org/index.cfm?go=8.1

REGION 3
Gilpin and Clear Creek Counties
Clear Creek Economic Development Corp.
Peggy Stokstad & Gayle Johnson
PO Box 2030
502 Sixth Street
Georgetown, CO 80444
(T) 303-569-2133
(F) 303-569-3940
e-mail: clearcreekec@earthlink.net

REGION 4
El Paso Counties
Pikes Peak Regional Development Corp.
Douglas F. Adams & Christine Ressler
228 North Cascade, Suite 208
Colorado Springs, CO 80903
(T) 719-471-2044
(F) 719-471-2042
e-mail: dfa@pprdc.com; christine@pprdc.com
Website: http://pprdc.com/

REGION 5
Elbert, Lincoln, Kit Carson and Cheyenne Counties
Prairie Development Corporation
Maryjo Downey & Elwin Boody
128 Colorado Avenue
PO Box 28
Stratton, CO 80836
(T) 719-348-5562
(F) 719-348-5887
e-mail: business@prairiedevelopment.com
Website: http://www.prairiedevelopment.com/businessclimate/businessinvestment.htm

REGION 6
Crowley, Kiowa, Bent, Prowers and Baca Counties
Southeast Colorado Enterprise Development
Jan Anderson
PO Box 1600
112 W. Elm St.
Lamar, CO 81052
(T) 719-336-3850
(F) 719-336-3835
e-mail: seced@seced.net
Website: http://www.seced.net

REGION 7
Pueblo Counties
Pueblo County Community Development Corp.
c/o Jeannie Sandidge at SCEDD
1104 N. Main
Pueblo, CO 81003
(T) 719-545-8680
(F) 719-545-9908
e-mail: sandidge.scedd@att.net
Website: http://www.co.pueblo.co.us/econdev/

REGION 8
Saguache, Mineral, Rio Grande, Alamosa, Conejos and Costilla Counties
San Luis Valley Development Resource Group
Michael Wisdom, John Stump, Roni (Carr) Wisdom
PO Box 300
626 4th Street
Alamosa, CO 81101
(T) 719-589-6099
(F) 719-589-6299
e-mail: jstump@slvdrg.org
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 & Paul Broderick
295A Girard Street
Durango, CO 81303
(T) 970-247-9621
(F) 970-247-9513
e-mail: ed@scan.org; paul@scan.org
Website: http://www.scan.org

REGION 10
Delta, Gunnison, Montrose, Ouray, San Miguel and Hinsdale Counties
Region 10 League for Economic Assistance & Planning
Leslie Jones, Jonathan Allen
PO Drawer 849
300 North Cascade, Suite 1
Montrose, CO 81401
(T) 970-249-2436
(F) 970-249-2488
e-mail: jonathan@region10.net; leslie@region10.net
Website: http://www.region10.net/

REGION 11
Mesa Counties
Western Colorado Business Development Corp.
Thea Chase Gilman & Dean A. DiDario
2591 B 3/4 Road
Grand Junction, CO 81503
(T) 970-243-5242
(F) 970-241-0770
e-mail: tchase@gjincubator.org; deandd@gjincubator.org
Website: http://www.gjincubator.org/

REGION 12
Moffat, Routt, Jackson, Rio Blanco, Grand, Garfield, Eagle, Summit and Pitkin Counties
Northwest Loan Fund
June Walters
PO Box 2308
249 Warren Avenue, Suite 201
Silverthorne, CO 80498
(T) 970-468-0295, 800-332-3669, Ext. 119
(F) 970-468-1208
e-mail: nlfjune@colorado.net
Website: http://nwc.cog.co.us/northwest_loan_fund.htm

REGION 13
Lake, Park, Chaffee, Teller, Fremont and Custer Counties
Upper Arkansas Area Development Corp.
Jeff Ollinger
PO Box 1212
Buena Vista, CO 81211
(T) 719-395-2602
(F) 719-395-6570
e-mail: jeffolli@chaffee.net
Website: http://www.uaacog.com/uaadevelop.htm

REGION 14
Otero and Las Animas Counties
Otero/Las Animas Revolving Loan Fund
Valerie Manweiler
P.O. Box 511
13 W. 3rd Street
La Junta, CO 81050
(T) 719-383-0183
(F) 719-383-3090
e-mail: oterorlf@oterogov.org

REGION 15
Previously covered Logan County exept the City of Sterling Counties
(Merged with Region 1)

REGION 16
Huerfano Counties
Huerfano County RLF
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.

Office of Economic Development & International Trade
Business Finance Division
Alice Kotrlik or Ken Gabriel
1625 Broadway, Suite 1700
Denver, Colorado 80202
(T) 303-892-3840
(F) 303-892-3848
1-800-659-2656 TDD