The Greeley Community Development Fund assists with the financial needs of companies expanding in or locating to the City of Greeley. The Weld/Larimer Revolving Loan Fund, the City of Greeley, commercial banks in Greeley and the Hispanic Loan Program have joined together to provide the initial funding for this loan program.

Loan/Guarantee Terms

  • Short-term financing or loan guarantee for up to 45% of total project costs. Remaining project costs to be funded through banks, private investors or other loan programs.
  • Minimum loan amount - $20,000
  • Maximum loan amount - $125,000
  • Maximum loan term - 5 years
  • Interest rates - negotiable based on the national prime rate
  • Loan collateral - considered on a case-by-case basis. GCDF may assume a 2nd or 3rd position in order to leverage other lender involvement
  • Personal guarantee from the borrower required
  • At least 10% of the project cost or market value must be invested by the borrower
  • Origination/closing fee equal to 2% of the loan amount or guarantee
  • Non-refundable $50 loan application fee

Use of Funds

  • Business purchase
  • Acquisition, improvement or expansion of borrower-occupied real estate
  • Purchase of equipment, furniture, fixtures and machinery
  • Working capital and inventory
  • Re-financing of existing debt in some cases

For more information and an application, visit: http://upstatecolorado.org/wp-content/uploads/2016/02/GCDFApplication.pdf