The Region 9 Economic Development District of SW Colorado has received $406,874 of additional loan funds through the Community Development Block Grant contract between the Colorado Office of Economic Development and International Trade and La Plata County on behalf of the five counties in southwest Colorado.
The CDBG is one of several sources of funding for the Region 9 Business Loan Fund program that provides “gap” financing to support job creation and retention in La Plata, Archuleta, Montezuma, Dolores and San Juan counties. In addition to larger loans of $100,000 or more, the CDBG program provides micro-loans to small businesses. So far, this CDBG contract has funded 9 businesses totaling almost $500,000.
For more information on the Business Loan Fund, visit www.scan.org or contact Jenny Stollar at 247-9621 or jenny@scan.org.
