Region 9 receives new business loan fund through Community Development Block Grant

By Laura Lewis
Special to The SUN

The Region 9 Economic Development District of Southwest Colorado Inc. will receive $580,000 through a new Community Development Block Grant (CDBG) contract between the Colorado Office of Economic Development and International Trade (OEDIT) 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 (BLF) 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 business and entrepreneurs that can include up to $5,000 in grants for technical assistance.

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This story was posted on July 9, 2015.