El Paso County Business Loan Fund
The El Paso County Business Loan Fund Program (BLF) is a source of capital for expanding businesses within El Paso County.
Providing lower cost financing helps pave the way for small business owners to expand their businesses. The Business Loan Fund Program typically involves a private lender who may not otherwise provide complete financing. The public / private partnership can help smaller businesses finance their expansion, resulting in new employment opportunities.
BUSINESS & PROJECT ELIGIBILITY
Funds may be used to acquire business interest, real estate, machinery, equipment, inventory, and working capital.
- Applicants must be credit-worthy for-profit businesses located in unincorporated El Paso County, or in its incorporated smaller cities and towns.
- Applicants located within El Paso County designated Enterprise Zones are eligible.
- Manufacturing businesses located within the City of Colorado Springs are eligible.
Loan terms are normally comparable to the life of the asset being financed. Permanent working capital loans are typically granted from three to five years.
• Maximum Loan $200,000 • Term Up to 10 years • Rate Typically under market • Amortization Same as Term • Fees 2% origination • Loan closing are subject to the availability of program resources.
Executive Director of Economic Development
El Paso County, Colorado- Economic Development Department
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Technical assistance and advisory resources are available through the Small Business Development Center (SBDC) (719) 667-3803, and Service Corp of Retirement Executives (S.C.O.R.E.) (719) 636-3074.