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Town of Carbondale Revolving Loan Fund

The Town of Carbondale ("Town") has developed the Revolving Loan Fund (RLF) to enhance the ability of business owners to secure the necessary capital to finance start-ups, operations, or expansion.  In addition to providing access to capital, the RLF is designed to help stimulate job creation and retention.  Loans are available to new or established businesses or organizations that are located within the town limits of Carbondale.

PROCESS:  Contact the Roaring Fork Business Center ("Center"), at info@rfbrc.org to obtain a loan application or click here to download the application.  The Center will review the loan application.  Once it is complete, the application will be submitted to the Loan Review Committee.  The loan approval process takes approximately four weeks after a completed application is received.

CRITERIA:  Loan proceeds may be used for business reasons, including real estate acquisition, construction,  and equipment.  Funds cannot be used for the refinancing of existing debt.  Applications will be considered on the basis of the character of the applicant, the applicant's capacity to repay the loan, collateral and/or other sources of capital, and conditions affecting the applicant's ability to repay the loan.

APPLICATION:  The application will include financial and background information, including financial statements, financial projections, and a business plan.

LOAN AMOUNT:  The guideline for the amount requested is $5,000 to $25,000.

INTEREST RATE:  The interest rate will depend on several factors such as the type of collateral, financial strength of the applicant, and the overall risk.  Fixed rates of interest will range from 3% to 10%.

MATURITY:  The term of each loan will depend on repayment capabilities and the purpose of the loan.  Repayment may be monthly, quarterly, lump sum, or some other method.  It is anticipated that the term of each loan will not exceed 36 months.

FUNDS:  The Town's renewed efforts to assist local businesses with low-interest loans received a boost from the U.S. Department of Agriculture Rural Development program in the form of a $50,000 grant.  Now, the fund will be able to provide a minimum of $100,000 in loans to for-profit businesses, with additional funds available to Carbondale nonprofit businesses.

The Loan Review Committee meets on the 2nd Monday of the month at Carbondale Town Hall at 4pm.
Media
Carbondale Loan Fund Story Heard on Aspen Public Radio 11/17/10
 
 

Carbondale Revolving Loan Fund Committee

Nancy Barnett: Town of Carbondale
Charlie Chacos: Village Smithy
Jodi Fischer: Jodi Fischer, LLC
Charlene Hixson-Revoir: Wells Fargo Bank
Lynn Kirchner: Amore Realty
Martha Silva: Pilkington Partners

Application Deadlines and Review Meeting Dates

Deadline for Complete Application - Schedule of Meetings (2nd Monday)

        Deadline for Application                     Schedule of Meetings – 2nd Monday

Friday, December 30                           Monday, January 9, 2012

Friday, February 3                               Monday, February 13

Friday, March 2                                   Monday, March 12

Friday, March 30                                 Monday, April 9

Friday, May 4                                      Monday, May 14

Friday, June 1                                      Monday, June 11

Friday, June 29                                    Monday, July 9

Friday, August 3                                  Monday, August 13

Friday, August 30                                Monday, September 10

Friday, September 28                          Monday, October 8

Friday, November 2                            Monday, November 12

Friday, November 30                          Monday, December 10

To download an application, click here.

Copyright 2009-2012     Roaring Fork Business Resource Center     All rights reserved.
P.O. Box 987     817 Colorado Avenue #107     Glenwood Springs, CO 81602    
(p) (970) 945-5158  (f) (970) 945-5147    info@rfbrc.org     Contact Us
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