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Community Development Block Grant Business Loan is sponsored by Colorado Office of Economic Development and International Trade (OEDIT) / U.S. Department of Housing and Urban Development (HUD). This program, funded by HUD and administered by OEDIT, provides loans and loan guarantees to businesses in rural areas of Colorado for economic development and job creation.
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4. Community Development Block Grant Business Loan Each year, the U.S. Department of Housing and Urban Development (HUD) provides Colorado with funding through the State Community Development Block Grant (CDBG) program for community and economic growth. One-third of these funds are allocated specifically for Economic Development, which are used to aid the State’s Business Loan Funds.
These funds are distributed across 12 Regional Business Loan Funds dedicated to job creation and retention throughout rural Colorado. Each Loan Fund is led locally with their own Business Loan Fund Manager, local loan review committee and local board of directors. The Community Development Block Grant Business loan aids businesses in rural areas by providing loans and loan guarantees.
A business must create or retain one job for each $35,000 received in CDBG loan funds, filling at least 51% of the jobs created and/or retained with low-to-moderate income individuals. To qualify for a Microenterprise Loan, a business must have five or fewer employees, including ownership, and all owner(s) must qualify as low-to-moderate income persons. These loans are available up to $100,000.
All loans are available at the discretion of the regional Business Loan Fund Managers. To inquire, please contact the Business Loan Fund Manager located within your region. Contact your Regional Business Loan Fund Manager(opens in new window).
According to the current listing, eligibility includes: For-profit businesses in rural areas of Colorado. Must create or retain one job for each $35,000 received, with at least 51% of jobs for low-to-moderate income individuals. Confirm the full requirements in the official notice before applying.
The current listing shows unspecified for business loans; Microenterprise loans available up to $100,000. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Community Development Block Grant Business Loan is funded by Colorado Office of Economic Development and International Trade (OEDIT) / U.S. Department of Housing and Urban Development (HUD). Verify program details on the funder's official page before applying.
This opportunity targets applicants in Colorado. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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