REVOLVING LOAN FUND
 

SECED contracts with the Governor’s Office of Economic Development and International Trade to fund loans for “business assistance.” To date (beginning in 1998), the Revolving Loan funds have generated 85 loans, 151 jobs, and $1,796,343 of leveraging. These results take into account contract funds and funds used from “miscellaneous income/revolved funds.” All communities receive a proportional share of benefit from the Revolving Loan Fund.

The Revolving Loan Program is ranked the number one priority program for business assistance in Colorado. Job creation is the highest priority criteria. Rates are typically close to prime rate and terms are very flexible. This program is designed to fill financial gaps.

Business Loans are available on a first come first serve basis to anyone who creates jobs. Fifty-one percent of the jobs must be filled by low to moderate-income individuals.