Provide working capital loans for business growth and expansion creating more and better jobs. Loans could be combined with other lending sources to create a robust financial package. Lending is designed to help businesses create a financial base that leads to bridging to commercial lending.
$25,000 – $100,000
36 month term w/ balloon and 10 year amortization.
Base rate + 2% margin
Based on companies’ ability to repay. Examples: fully amortized payments, interest only with pay down, revenue share,LOC w/ principle due at maturity, amortized with balloon
Ouray, Montrose, Dolores, San Miguel and/or San Juan county
A for profit company located in the above county that are not commercially bankable (early stage) or are not likely to secure reasonably priced debt needed to support working capital needs that will retain or create jobs. Excluded businesses: mining, extraction or fossil fuels, gaming, gambling, and lobby or businesses linked to alcohol, tobacco, or cannabis (hemp related companies will be considered on a case by case basis).
Use of loan:
Purpose of fund is to help company cover working capital expenses otherwise known as short-term expenses. The loan funds may also be used to purchase equipment (fixtures, furniture, equipment) if debt can be repaid in the above repayment term. Loan is not to be used to purchase long-term assets such as real property.
Capital and Transaction Advisor