Good Afternoon Loveland Business Community,
The 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.
Loan details are as follows:
- Loans amounts between $2,500-$50,000 at a fixed rate of 3.50% and no origination fee; and
- 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.
- And has through normal operations held sufficient human, intellectual, and financial capital to be deemed economically viable prior to March 15, 2020.
“It’s our commitment to continue to help small businesses throughout the state survive during this rapidly changing time and through the inevitable ripple effects to come,” says Ceyl Prinster, President and CEO of CEF. “The primary goal of the Larimer County Small Business Recovery Loan Fund and our COVID-19 Relief Loan is to help stabilize vulnerable small businesses in Larimer County and therefore help retain jobs. In addition to financial resources, we are offering business continuity support and coaching on topics like managing payroll and cash flow, taking care of employees during and after the pandemic, and more.”
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://coloradoenterprisefund.org/larimer-county-covid-19-relief-loan/