Larimer County Recovery Loan Fund to support small businesses impacted by the COVID-19 economic slowdown – Now Accepting Applications

A new $5 million Larimer County Small Business Recovery Loan Fund is now accepting applications. Colorado Enterprise Fund (CEF) will manage the fund, which includes $2 million in lending capital with initial lending capital provided by Bohemian Foundation. Additional funds will become available with the remaining $3 million in lending capital to be raised through regional collaboration with local foundations, banks, municipalities, private businesses, and individuals.

“The partnership with Colorado Enterprise Fund is exciting,” says the City of Fort Collins Economic Health Director, Josh Birks, “they have been helping small businesses in Colorado since 1976 and have extensive experience operating similar loan programs creating a strong foundation for business recovery.” Fort Collins Area Chamber of Commerce President David May said, “The loan fund will provide much needed capital to stabilize business and enable them to rebuild and recover. A big thank you to the Bohemian Foundation and the City for their leadership.”

Loan details are as follows:

  • Loans amounts between $2,500-$50,000 at a fixed rate of 3.50% and no origination fee
  • Loans are intended to support the stabilization and recovery of businesses

Eligible Business will (in addition to other requirements):

  • Be located within Larimer County, Colorado (primary address) and employ 20 or fewer workers
  • Has through normal operations held sufficient human, intellectual, and financial capital to be deemed economically viable prior to March 15, 2020

Additional information about the program and information on how to apply is available at NoCoRecovers.com. Interested businesses can complete a pre-qualification form at: 

 

https://forms.coloradoenterprisefund.org/coloradoenterprisefund/form/CEFCOVIDReliefLoanInquiryLarimer/formperma/ZQWRWr_gDUVieadKA7TxK2EBqWT7pAcjixGfHAette8

Did you like what you just read?

Show your support for Local Journalism by helping us do more of it. It's a kind and simple gesture that will help us continue to bring stories like this to you.

Click to Donate