Every year, the State of Colorado receives an allocation of federal funds to use for both community and economic development efforts within the state. OEDIT receives approximately one-third of the state’s annual allocation of funds to use specifically for economic development efforts statewide. Specifically, we use this funding to aid the state’s Business Loan Funds.
Currently, Colorado has 14 Business Loan Fund locations, which have service areas covering the majority of the state’s rural areas. These 14 programs are responsible for promoting and fostering economic development efforts at the local level by providing financial assistance in the form of loans and loan guarantees to businesses in their respective regions. The loan program is locally driven, with each loan fund having its own local loan review committee and local Board of Directors. Colorado uses federal funds and Community Development Block Grant Funds (CDBG Funds) it receives to provide funding to aid the state’s Business Loan Funds.
Business Loan Fund locations, including current loan fund administrator, are as follows:
Logan, Morgan, Washington, Yuma, Phillips & Sedgwick Counties
Northeastern Colorado BLF
Gilpin and Clear Creek Counties
Clear Creek Economic Development Corp.
Elbert, Lincoln, Kit Carson and Cheyenne Counties
Prairie Development Corporation
Saguache, Mineral, Rio Grande, Alamosa, Conejos and Costilla Counties
San Luis Valley Development Resource Group
Kevin Wilkins, Sarah Stoeber
Dolores, San Juan, Montezuma, La Plata and Archuleta Counties
Region 9 Economic Development District of SW Colo.
Laura Lewis, Jenny Stollar, Brian Rose
firstname.lastname@example.org, email@example.com, firstname.lastname@example.org
Delta, Gunnison, Montrose, Ouray, San Miguel and Hinsdale Counties
Region 10 League for Economic Assistance & Planning
Michelle Haynes, Dan Scinto
(970) 249-2436 ext. 17
Moffat, Routt, Jackson, Rio Blanco, Grand, Garfield, Eagle, Summit and Pitkin Counties
Northwest Loan Fund
(970) 468-0295, (800) 332-3669, Ext. 119
Previously covered Logan County except for the City of Sterling
(Merged with Region 1)
Huerfano County BLF
Huerfano County Commissioners
View the CDBG Guidebook
Please note: Entities receiving CDBG assitance may have to comply with various requirements contained in this guidebook, which will vary by project type and scope.