The State of Colorado receives Community Development Block Grant (CDBG) funds from the federal government for use in the primarily rural areas in the state. Larger cities and counties receive their own CDBG funds directly from the federal government. The Colorado Office of Economic Development and International Trade uses CDBG funds to:
- Provide funds to 14 business loan funds in primarily rural areas. The business loan funds make loans to businesses within their service territory. The business loan funds typically fund start-up businesses and expanding businesses and in some cases, will work with businesses in an effort to retain the business.
- Provide funds to construct publicly owned infrastructure in primarily rural areas. The infrastructure must be in support of a specific business or businesses. Typical types of infrastructure include extension of water lines, sewer lines, electrical lines, gas lines and in some cases, paving of a roadway.
Denver Economic Development & Opportunity released the sixth edition of its Denver Capital Matrix, a resource directory of funding sources for Denver’s small businesses and entrepreneurs. The matrix identifies more than 400 funding sources including traditional bank lending, venture capital firms, private equity firms, angel investors, mezzanine sources, investment banking institutions, and others that have funded Colorado businesses.
Access to financing is key for entrepreneurs and new businesses. Small Business Innovation Research Grants are also an important source of financing, and Colorado ranks fifth in this measure per worker.
Additional Colorado Loan and Grant Programs can be found online at the Colorado Department of Local Affairs
Colorado Financial Institutions and Certified Development Corporations
- Colorado Enterprise Fund
- Colorado Housing and Financing Authority (CHFA)
- Colorado Lending Source
- Rocky Mountain MicroFinance Institute (RMMFI)
- Small Business Association Resources
- SBIR/STTR Funding