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Emergency Micro-Loan Fund

Emergency Loan Fund

General Eligibility

Credit: Principal business owner(s) must have reasonable and responsible personal credit history and an acceptable explanation for any derogatory marks. Bankruptcies and debt write-offs must be at least 12 months old

Cash Flow: Businesses must show that historical profits were sufficient to service the requested debt and have been impacted by the COVID-19 outbreak

Location: Primary business operation located in Pueblo, Fremont, Huerfano, and Custer counties will be given priority 

Microloan Use of Funds: Must be for reasonable and eligible working capital expenses

Microloan Requirement: Job retention

Collateral: Evaluated on a case-by-case basis

Required Guarantors: All business owners who hold 20% or more ownership must guarantee the loan

Co-Signer:  A co-signer with reasonable credit and sufficient income to re-pay the loan can be included as a guarantor to mitigate weaknesses in the loan request

Application Fees: $25 for an individual, $50 co-borrower (waived for 90 days – July 1, 2020)

Important Documentation:

·         Complete Loan Application

·         Business Tax Returns (1 year, if available)

·         Interim Business Financial Statement

·         Personal Financial Statement

·         Personal Tax Returns (1 year)

·         Bank Statements (3 months)

·         Sources and Uses of Funds

Emergency Small Business Loan Fund COVID-19

In light of the sweeping impact the COVID-19 pandemic is having on our small business community, Southern Colorado Community Lending (a subsidiary organization of NeighborWorks Southern Colorado) is responding swiftly to support our local, community businesses. The newly established Small Business Emergency Microloan Program now provides financing needed to strengthen small business enterprises in this time of acute need that have been affected by the COVID-19 outbreak.


For more information please contact: Heather Hobby

Phone: 719-423-4694


Microloan Terms

Loan Limits: $1,000 to $20,000

Interest Rate:

- Option 1: 0% for a term of 6 months
- Option 2: 2% term of up to 2 years

Term: 6 months to 2 years

Loan Fee: 3%; 2% origination, 1% loan loss reserve to the CHFA CCR Program

Eligible Uses: Working capital only

Eligible Borrowers:

- Option 1: micro-enterprises that are low-income or will retain low-income jobs
- Option 2: small businesses that will retain low-income jobs

Repayment: Begins at 60 days

Our Impact This Year

  • Attended Group & Online Classes


  • New Homeowners


  • Dollars in Small Business Lending


  • Dollars Invested Into Communities


Thank you to our generous sponsors: