The El Paso County Business Loan Fund (BLF) program provides loan funding to private, for-profit small businesses and startups in El Paso County who otherwise may not be able to access financing through conventional lenders. The BLF program is administered locally by Colorado Enterprise Fund (CEF) for El Paso County. Borrowers have access to loan funding and wrap-around support services, such as education, consulting and/or mentorship, and technical assistance services through CEF. Loans range from $5,000 – $50,000.
About the Program
First Steps
If you are interested in learning more and starting the application process, click “Start Here” to head to Colorado Enterprise Fund’s website and fill out a loan questionnaire form. As soon as the form is reviewed by CEF, someone from their team will reach out to you directly regarding your submitted form and next steps.
Eligibility Requirements
For-Profit
Businesses must be for-profit entities.
Small Business
Businesses must have 500 or less employees.
Annual Revenue Cap
Businesses must have $5M or less in annual revenue.
Eligible businesses must also satisfy at least one of the following conditions:
Eligible Loan Uses
- Financing of fixed assets (machinery, equipment, land, buildings)
- Furniture and fixtures
- Business supplies
- Working capital
- Inventory purchases
- Minor renovations/rehabilitation to owner-occupied facilities
- Business acquisition
Loan Parameters
Loan parameters depend on multiple factors and specific loan needs. Loan terms typically range anywhere from 1-10 years, and the interest rate is fixed, depending on loan size and terms. All loans are fully collateralized and personal guarantees are required of all borrowers.
Contact Us
Katie Plutz
Business Incentives Analyst
9 E. Vermijo Ave.
Colorado Springs, CO 80903
719-520-7493
katieplutz@elpasoco.com