Carbondale Revolving Loan Fund

Enhancing the Ability of Local Businesses
to Secure Necessary Capital

The Town of Carbondale (Town) developed the Revolving Loan Fund (CRLF) to enhance the ability of local businesses to secure the necessary capital to finance start-ups, operations, or expansion.

The fund loan fund was set up in 2002 with a 50/50 partnership with the USDA.  The Town and the USDA both contributed $50,000.

In addition to providing access to capital, CRLF is designed to help stimulate job creation and retention. Loans are available to new or established businesses that are located within the town limits of the Town of Carbondale.


PROCESS:

Send a one page summary describing your loan need, payback timeframe, and ability to repay the loan to Colin Laird, Third Street Center (email / 970-963- 3221 x3).


CRITERIA:

Loan proceeds may be used for business reasons, including real estate acquisition, construction, and equipment.

Funds cannot be used for the refinancing of existing debt. Applications will be considered on the basis of the character of the applicant, the applicant’s capacity to repay the loan, collateral and/or other sources of capital, and conditions affecting the applicant’s ability to repay the loan.


APPLICATION:

The application will include financial and background information, including financial statements, financial projections, and a business plan. DOWNLOAD LOAN APPLICATION HERE.


LOAN AMOUNT:

The guideline for the amount to be requested is $5,000 to $25,000.


INTEREST RATE:

The interest rate will depend on several factors such as the type of collateral, financial strength of the applicant, and the overall risk. Fixed rates of interest will range from 3% to 10%.


MATURITY:

The term of each loan will depend on repayment capabilities and the purpose of the loan. Repayment is monthly and loans are usually  no longer than a 36 months term. (3 years).


FUNDS:

Today, the fund has roughly $130,000 to loan to for-profit businesses based in Carbondale.


CONTACT:

Colin Laird, Third Street Center, 520 South Third Street, Carbondale, CO 81623. Reach Colin via email  or by phone, 970-963- 3221×3.

Visit the Third Street Center website to learn more and apply.

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>First Friday “Creative District Focus”
First Friday “Creative District Focus”

Come celebrate First Friday in March!

Stroll Main Street in the heart of Carbondale’s Creative District and take ...

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Mar 7
>Green is the New Black Fashion Show
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First Friday — Spring into Wellness & Healing Hoof It 5K

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Apr 24
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May 3
>Fireball Drop — Carbondale Rotary Club
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