Region 9 and partners assist 36 businesses across the region

By Stephani Burditt
Special to The SUN

The Region 9 Economic Development District of Southwest Colorado has provided $226,000 in no- and low-interest loans to 36 businesses throughout southwest Colorado, protecting at least 128 jobs in the region. 

Region 9 launched its Disaster Assistance Loan Program on March 23 to provide relief for small businesses in Archuleta, La Plata, Dolores, Montezuma and San Juan counties.

Region 9 has provided two rounds of funding for loans between $1 and $10,000. Loans were made to seven Archuleta, nine Montezuma, one Dolores, and 19 La Plata county applicants. The San Juan Development Association was able to fund eight Silverton businesses through its internal microloan fund, which Region 9 staffs.

“We are happy to be able to add to the number of businesses in our region receiving support,” said Brian Rose, Region 9 deputy director. “The federal stimulus package went a long way in providing much-needed capital to numerous small businesses, but our program was aimed at providing working capital to businesses that fell into the ‘gaps.’”

The following businesses have benefited: Alpine Aerial Acrobatics, Durango Space, Will Built, IV Fluid, Blackwood Tattoo, Aldrich Art, Cliffside, Dancing Raven, Elk Point Lodge, Enliven, Euphoria Salon, Incognito Salon, Ohana PT, Old Gold, Peaks and Tides, Performance Auto Repair, Remedy, Ski Barn, Enterprise Bar 7 Grill, Pagosa Mountain Sports, Motel SOCO, In Balance PT, Pagosa Management, Cross Fit Pagosa, Crawford, Cabe’s Automotive, KB Insurance, Mancos Brewing, Moose and More, Top Line Floors, Rudosky Golf, Lambert Livestock, RJN and Luna Mesa.

Region 9 was able to make its available funds go further with help from Montezuma County, the Town of Pagosa Springs, the Pagosa Springs Community Development Corporation, Dolores County Development Corporation and contributions to the Enterprise Zone Business Support Fund.

“Having economic development groups, businesses and area governments trusting Region 9 to distribute their funds for business assistance, is humbling,” said Laura Lewis Marchino, Region 9 executive director. “We appreciate their financial commitment and have been able to impact business sectors from retail and construction, to food services and healthcare.”

Region 9 has also waived April and May interest payments and deferred principal for all loan clients. For more information about Region 9’s Business Support Fund or loan programs, please email laura@scan.org.

 

This story was posted on May 11, 2020.