NWCCOG   P.O. Box 2308   Silverthorne, Colorado 80498   970.468.0295

Northwest Loan Fund

Map of Northwest Loan Fund Territory

The Northwest Loan Fund (NLF) offers business loans that will create or retain jobs and bring a value added product or income to the local economy in the 9 Northwest counties. The NLF loans money for start-up and expanding businesses that may not qualify for traditional financing. Loans can be used for such things as purchasing equipment, inventory, raw materials, existing businesses, buildings, renovation of current businesses and many other uses.

The information below is intended to be a broad description of the loan guidelines and requirments but are not all inclusive. If you have questions about how the Northwest Loan Fund might benefit your business, do not hesitate to call Anita. She can help guide you to the best funding scenario for your specific business.

Northwest Loan Fund Loan Specifics

  • Business located in Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt or Summit County
  • One job for every $20,000 loaned
  • 51% of the jobs created or retained must be filled by individuals of low to moderate income
  • Owner equity should be at least 20%
  • Collateral must be available to secure the loan amount
  • Explanation as to why your bank would not make the loan

Eligible use of loan funds:

Business assets

  • Equipment/machinery
  • Inventory
  • Raw materials
  • Purchase of existing business
  • Renovation/fixtures of business occupied building
  • Business occupied building purchase

Working Capital

  • Payroll
  • Accounts Receivable financing

Size of Loans:

$5,000 to $100,000 (larger as warranted)

Term of Loans:

1 year to 5 years (longer if warranted)

Interest Rate:

Prime + 2


2-3% Origination Fee


Equipment, Inventory, Accounts Receivable, 1st or 2nd Deed of Trust on real estate

Northwest Loan Fund Application Forms

Northwest Loan Fund Loan Committee

The Loan Committee will meet one time per month. Submit your complete application in ample time for the Business Loan Officer to review, visit your business, ask questions and write the committee presentation.
The Loan Committee is comprised of one volunteer with a business background from each of the nine Northwest counties.