Community Development Block Grant - Economic Development (CDBG-ED)
Each year, the State of Colorado receives an allocation of federal funds to use for community and economic development efforts within the state. The economic development funds are used to aid the state's Business Loan Funds.
Currently, Colorado has 12 Business Loan Fund locations which have service areas covering the majority of the state's rural areas. These 12 programs are responsible for promoting and fostering economic development efforts a the local level by providing financial assistance in the form of loans and loan guarantees to businesses in their respective regions. The loan program is locally driven, with each loan fund having its own local loan review committee and Board of Directors.
Community Development Block Grant Business Loan
The Community Development Block Grant (CDBG) Business Loan helps businesses in rural areas by giving loans and loan guarantees. A business typically needs to create or retain one job for each $35,000 in loan funds. If your business has five or fewer employees, you may be exempt from that requirement through a micro enterprise loan.
Community Based Development Organization - Economic Development
Under the CDBG-Economic Development program, qualified agencies may be designated as Community Based Development Organization - Economic Development (CBDO-ED) and provided funds to carry out community economic development projects. There are certain characteristics that an organization must meet to be certified as a CBDO-ED.
Application Documents
CDBG ED Budget Template
CDBG ED Loan Program Pipeline Template
CENST Environmental Review for Activity Form
Program Contact
Robyn Berkey, Program Manager
720-315-1526
robyn.berkey@state.co.us
Audrey Field, Financial Assistance Manager
303-864-7897
audrey.field@state.co.us