In response to the flooding in Archuleta County, the Region 9 Economic Development District is activating its Business Disruption Loan Program to help businesses recover and remain operational during this critical time.
Here are the highlights of the program:
• Loan amounts: $1,000 to $10,000.
• Interest Rate: Zero percent for the first six months; 1 percent interest-only for months 7-12; fixed prime rate thereafter.
• Repayment Terms: 24 to 48 months (depending on loan size).
• Use of funds: Payroll, rent, utilities and other essential operating costs.
• Collateral: Personal guarantees and a blanket lien (UCC-1) on business assets.
This program is designed for cash flow relief while businesses await insurance settlements, Small Business Association assistance or customer recovery. It complements Region 9’s standard Business Loan Fund, which can provide larger loans for rebuilding, inventory replacement or equipment purchases.
Interested businesses should contact Jenny Stollar or Ricardo Arrieta, jenny@region9edd.org or (970) 247-9621, or ricardo@region9edd.org.
Applicants will need to provide:
• A short statement of business impact and recovery goals.
• Current financials and a simple budget showing intended use of funds.
• A personal financial statement and job retention estimate.
Priority will be given to businesses demonstrating the ability to reopen or retain employees and those leveraging additional funding sources.
Please help us spread the word to affected businesses in your community. If you need assistance completing an application, Region 9 is available to walk you through the process.
Thank you for continuing to support local recovery efforts.
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