The City of Glenwood Springs offers a new financing opportunity through a grant from the U.S. Department of Agriculture (USDA). This revolving loan fund (RLF) will provide low-interest financing options to business owners operating within city limits for the following purposes:
Fire suppression systems
Working capital needs
Acquisition or rehabilitation of fixtures, furniture, or equipment
Limited new construction projects
Per USDA regulations, any new construction projects require extensive federal review which could take multiple months. If you are interested in using any RLF funding for new construction, please reach out to Matt Nuñez, Economic Development Specialist, at (970) 384-624 prior to submitting an application.
Amount: Loans will be distributed in amounts between $5,000 and $40,000 or 50% of the total eligible project costs
Terms: Annual interest rates around 3.0% with a repayment term of up to 7 years
Application: Eligible business owners must pre-application materials for initial review prior to submitting an application. Please submit all materials (right column) materials to email@example.com within the applicable timeframe.
Timeline: TheRLF Loan Review Committee meets monthly. Applicants can expect to hear about next steps within 4-6 weeks of submitting an application.
Business must be registered with the Colorado Secretary of State and hold an active business license with the City of Glenwood Springs.
Marijuana retailers are currently ineligible for the program.