The City of Fort Collins approved the creation of a new Small Business Relief and Recovery Loan Fund, in cooperation with Colorado Lending Source, a Denver-based non-profit community lender. The City is repurposing seed money previously provided in 2019 to Colorado Lending Source for its Main Street Loan program and is also redirecting the City’s unspent Cluster Program funds to launch the Fort Collins Small Business Relief and Recovery Loan Fund. Total available funds, eligible businesses and use of funds are still to be determined.
The goal of the Fort Collins Small Business Relief and Recovery Loan Fund is to help impacted small businesses to quickly access working capital loans to protect businesses and jobs in Fort Collins.
“The City is dedicated to supporting Fort Collins business owners and their employees who have been affected by the sudden economic changes and we hope these funds will provide some additional relief,” said Mayor Wade Troxell. “Fort Collins businesses strongly contribute to our vibrant culture and quality of life. We will continue to leverage partnerships to support small businesses during this uncertain and unprecedented time.”
For updates on the Small Business Relief and Recovery Loan Fund, please visit www.fcgov.com/business. Colorado Lending Source is not currently ready to accept loan applications. Please email the Fort Collins Economic Health Office at firstname.lastname@example.org with “Colorado Lending Source Loan” in the subject line to be notified when Colorado Lending Source can start accepting applications. This email address can also be used for any other business-related questions.