The Development Company’s History
Pikes Peak Regional Development Corporation (PPRDC) was formed in January, 1976, under the name of the Old Colorado City Development Company. The organization originated through the cooperative efforts of the City of Colorado Springs and business persons from the “Westside” area of the city. Today, the organization is comprised of an independent advisory Board, an Executive Director and support staff.
PPRDC was originally formed to provide low interest loans to small businesses located within a six block area of Colorado Springs’ Westside. Since that time, PPRDC has been certified by the U.S. Small Business Administration to provide the 504 Loan Program. The Old Colorado City Historical District stands as a national example of how public and private funds can be combined to improve an area targeted for redevelopment.
PPRDC has assisted several hundred small businesses over its history. PPRDC has been instrumental in promoting local job creation and redevelopment strategies throughout its service area. Currently, PPRDC has funds available to assist small businesses through these lending sources:
To enhance economic opportunity for all citizens of El Paso and Teller Counties, and throughout the State of Colorado by providing financial assistance; to create and maintain jobs; to promote the start-up, survival, and growth of businesses; to assist in redevelopment; and to diversify and strengthen the State and County’s’ economic base within the limits of the resources available to the organization.
Douglas F. Adams, Executive Director
Christine R. Ressler, Project Manager
Karen D. Lovett, Closing/Servicing Manager
Jenivive R. Villavisencio, Loan Processing