Small Business Loan Financing

Pueblo County Community Development Corporation (PCCDC) loan funds provide short-term financing for private, for-profit businesses. Based on the financial needs of a business, the use of the borrowed funds and borrower’s credit history, typical terms will be for 5-7 years and interest rates will be based on the prime rate. Loan amounts range from $10,000 to $250,000.

PCCDC offers two loan programs: CDBG Direct Loans and Revolved Loans. Both loans are typically used as gap financing in combination with a conventional lender (banks & credit unions).

  • Direct Loans are ideally suited for businesses that meet federal guidelines for small business lending programs.
  • Revolved Loans are more flexible to accommodate unique business issues.

CDBG Direct Loans

  • The business must be located in rural Pueblo County (outside city of Pueblo limits).
  • Business must demonstrate that the project being funded is creating new jobs or retaining jobs. For each $20,000 loaned, one new job must be created or retained.
  • 60% of total funding package needs to come from other sources.
  • CDBG Direct loans have a maximum loan term of ten years.
  • Businesses must provide collateral.
  • Personal guarantees or co-signatures from the borrowers are generally required.
  • Maximum loan is $250,000.

Revolved Loan Requirements

  • Business located within Pueblo County (including within the City of Pueblo).
  • Businesses must demonstrate that the project being funded is creating new jobs or retaining jobs.
  • Maximum loan term of ten years.
  • Businesses must provide some form of collateral, however the RLF may consider a 2nd or 3rd position in order to leverage other lender involvement.
  • Personal guarantees or co-signatures from the borrowers are generally required.
  • Maximum loan is $250,000

How to Apply

The Pueblo County Community Development Corporation contracts with the Southern Colorado Economic Development District (SCEDD) to administer CDBG Direct and Revolved Loan funds.

Applications can be downloaded from the SCEDD website (www.scedd.com).

Contact SCEDD directly at (719) 545-8680, or visit their office at 1104 North Main Street, Pueblo, CO  81003.

Other Loans Available

Our partner, SCEDD, is a Certified Development Company. They also administer additional loans including:

  • USDA Rural Lending Fund - targeted toward rural and agricultural businesses
  • Small Business Administration 504 loans - financing for purchase of real estate, buildings and machinery at fixed, low interest rates
  • Small Business Administration 7(a) loans - financial help for businesses with special requirements

 

Interested in finding out more, or scheduling an appointment with our office?
Please call us at (719) 583-6240.

Location

Southern Colorado Economic Development District (SCEDD)
1104 North Main Street
81003 Pueblo , CO
United States
Phone: (719) 545-8680
Fax: (719) 545-9908
38° 16' 35.202" N, 104° 36' 32.8824" W
Colorado US