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 NeighborWorks of Southern Colorado to administer CDBG Direct and Revolved Loan funds.

Contact NeighborWorks directly at  (719) 406-9048, or visit their office at 1241 East Routt Ave, Pueblo, CO  81004.

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