Business Loan Fund

The El Paso County Business Loan Fund will provide 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. Borrowers have access to loan funding, and wrap-around support services such as education, consulting and/or mentorship, and technical assistance services. The El Paso County Business Loan Fund (BLF) is a revolving loan fund program administered locally by Colorado Enterprise Fund (CEF) for El Paso County.

Business Loan Fund Flyer

Goals: The primary goals of the BLF are to create and retain jobs, and to expand and diversify the economic base of El Paso County.

Eligible Areas/Businesses: The BLF funds are available to private, for-profit businesses. Eligible businesses must satisfy at least one of the following criteria:

    1. Be located in one of the following zones – Pikes Peak Enterprise Zone or one of Pikes Peak region’s eight (8) federally designated Opportunity Zones
    2. Be a woman-owned, minority-owned, veteran-owned, or rural business

Eligible Uses for BLF Funds:

    • Financing of Fixed Assets
      • Machinery and Equipment
      • Land
      • Buildings
    • Furniture and Fixtures
    • Business Supplies
    • Working Capital
    • Inventory Purchases
    • Minor Renovations/Rehabilitation to Owner-Occupied Facilities
    • Business Acquisition

Loan Parameters:

    • Loan Sizes: $5,000 – $50,000
    • Loam Terms: 1 – 10 years
    • Interest Rates: Fixed rate; depending on loan size and term
    • Maximum Business Size: 500 employees or less
    • Maximum Gross Revenue of Applicant: $5,000,000 or less
    • All loans are fully collateralized and personal guarantees are required of all borrowers.

First Steps

The first step is to head to Colorado Enterprise Fund’s website and fill out a Loan Inquiry 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.

Press Release:

El Paso County Relaunches Business Loan Fund for Small Business and Startup Community

Colorado Enterprise Fund (CEF)

www.coloradoenterprisefund.org

Contact us:

Katie Plutz
Business Incentives Analyst
9 E. Vermijo Ave.
Colorado Springs, CO 80903
719-520-7493
katieplutz@elpasoco.com