The Region 9 Economic Development District of Southwest Colorado, Inc. has received $500,000 of additional loan funds through a Community Development Block Grant contract between the Colorado Office of Economic Development and International Trade and La Plata County on behalf of the five counties in Southwest Colorado.
The CDBG is one of several sources of funding for the Region 9 Business Loan Fund program that provides “gap” financing to support job creation and retention in La Plata, Archuleta, Montezuma, Dolores and San Juan counties.
In addition to larger loans of $100,000 or more, the CDBG program provides micro-loans to small business and entrepreneurs. The $500,000 grant will be used to fund requests for Region 9’s Micro Enterprise Program.
To qualify for the Micro Enterprise Program, a business must:
Be located in Archuleta, Dolores, La Plata, Montezuma or San Juan counties.
Have five employees or fewer.
The owner must qualify as a low or moderate income earner or a low- or moderate income job must be created based on federal standards.
For more information, visit www.scan.org or contact Jenny Stollar at 247-9621 or email@example.com.