{"id":33026,"date":"2020-05-13T14:42:23","date_gmt":"2020-05-13T14:42:23","guid":{"rendered":"https:\/\/www.vailvalleypartnership.com\/?p=33026"},"modified":"2020-05-13T16:49:34","modified_gmt":"2020-05-13T16:49:34","slug":"colorado-lending-source-announces-small-business-emergency-funds-for-rural-colorado-businesses","status":"publish","type":"post","link":"https:\/\/www.vailvalleypartnership.com\/2020\/05\/colorado-lending-source-announces-small-business-emergency-funds-for-rural-colorado-businesses\/","title":{"rendered":"Colorado Lending Source Announces Small Business Emergency Funds for Rural Colorado Businesses"},"content":{"rendered":"<p><strong>DENVER,CO<\/strong>\u2014Colorado Lending Source is pleased to announce a new financing option for rural based\u00a0Colorado businesses that have been impacted by COVID-19. As a non-profit community\u00a0lender, Colorado Lending Source is allocating $350,000 to this effort. The purpose of the Small\u00a0Business Emergency Loan Program for Rural Colorado is to augment Federal relief programs and\u00a0to help protect jobs and businesses in rural communities.<\/p>\n<p>Colorado Lending Source\u2019s Executive Director, Mike O\u2019Donnell, states:<\/p>\n<blockquote><p>\u201cCOVID-19 has been especially challenging for most rural-based Colorado businesses. Many\u00a0larger cities and counties have been able to create loan programs to complement Federal\u00a0stimulus and help local businesses survive but rural businesses have been largely left to\u00a0their own devices. Most have been excluded from access to the Paycheck Protection\u00a0Program and struggle to understand the complexities of the credit-scored Economic Injury\u00a0Disaster Loans. To help out a little, Colorado Lending Source has launched the Small\u00a0Business Emergency Loan program for rural-based Colorado small businesses to offer\u00a0some relief and hope. These $10,000 loans are offered over two years at an interest rate\u00a0of 3.75%, with no payments due for the first six months of the loan. While not providing the\u00a0complete answer to the challenges faced by rural business, we hope that we can at least\u00a0contribute a little to the solution.&#8221;<\/p><\/blockquote>\n<p>Loan details of the Small Business Emergency Loan Program are as follows:<\/p>\n<ul>\n<li>$10,000 loans<\/li>\n<li>3% fixed interest rate<\/li>\n<li>Two year terms<\/li>\n<li>Payments deferred for six months<\/li>\n<li>Must be located in a rural community<\/li>\n<\/ul>\n<p>To identify if a business is located in a rural community, they can visit the USDA website and input\u00a0their business address.<\/p>\n<p>In order to apply, they must <a href=\"https:\/\/www.coloradolendingsource.org\/sites\/default\/files\/documents\/Applications\/CMS%20Emergency%20Rural%20CO%20Application%20V%202020%2005%2001.pdf\">fill out an application<\/a> and sent it to\u00a0<a href=\"mailto:submitmainstreet@coloradolendingsource.org\">submitmainstreet@coloradolendingsource.org<\/a>.<\/p>\n<p>For more information, please visit: <a href=\"https:\/\/www.coloradolendingsource.org\/articles\/small-business-emergency-loans\">www.coloradolendingsource.org\/articles\/small-business-emergency-loans<\/a><\/p>\n<p>Colorado Lending Source is a resource to the small business community and circulates pertinent\u00a0updates. You can sign up to receive their emails here.<\/p>\n<p>###<\/p>\n<p>Celebrating 30 years of lending, Colorado Lending Source cares about small business, creating\u00a0long-term alliances with our lending partners and borrowers, being a resource to empower\u00a0entrepreneurs, and making Colorado the best state in the nation to start and grow a business. We\u00a0partner with local lenders, government agencies, and other small business resources to make\u00a0access to capital more attainable. As a mission-based lender and small business-financing expert,\u00a0we are committed to fostering the economic growth of diverse small businesses within our\u00a0communities. Since 1990, we\u2019ve funded over 3,800 loans helping to create nearly 29,000 jobs\u00a0injecting over $4.7 billion into the economy. For more information, visit\u00a0<a href=\"http:\/\/www.coloradolendingsource.org\">www.coloradolendingsource.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DENVER,CO\u2014Colorado Lending Source is pleased to announce a new financing option for rural based\u00a0Colorado businesses that have been impacted by&#8230;<br \/><a class=\"read-more\" href=\"https:\/\/www.vailvalleypartnership.com\/2020\/05\/colorado-lending-source-announces-small-business-emergency-funds-for-rural-colorado-businesses\/\">Read More<\/a><\/p>\n","protected":false},"author":17931,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1050,2412,1712,1304,2271,2413,658],"class_list":["post-33026","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-co","tag-colorado-lending-source","tag-emergency","tag-program","tag-relief","tag-rural-loan","tag-vvp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Colorado Lending Source Announces Small Business Emergency Funds for Rural Colorado Businesses | Vail Valley Partnership<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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