Northwest Catalyst Capital
Northwest Colorado Innovation Center launched the Northwest Catalyst Capital - a microloan fund designed specifically for entrepreneurs and small business owners in Moffat, Rio Blanco, and Routt Counties.
Who is eligible?
Entrepreneurs and small businesses in Moffat, Rio Blanco, and Routt Counties who are creating or retaining jobs.
What can you use the program for?
Loan funds may be used for a wide variety of business purposes:
- Equipment
- Work vehicles
- Working capital
- Inventory
- Software
- IT systems
- Pre-construction costs
- Training and certifications of workforce
- Studies
- Facility renovations or upgrades
Instead of using a high-interest, variable-rate credit card to fund these expenses, learn how applying for a low-interest, fixed-rate loan can save you money.
Funding excludes goods or services that are illegal under federal law (e.g., marijuana, psychedelic mushrooms) and businesses focused solely on products that impact health and morale (e.g., distilleries, tobacco shops, CBD, or liquor stores). Distilleries that serve food may be eligible for partial (prorated) funding.
Loan terms:
- Loan amount: $5,000 to $15,000
- Interest rate: Just 5% fixed rate
- Loan origination fee: 1%
- Term: 2-4 years
Easy application process, based on character lending.
Character-based lending is a type of loan evaluation method that focuses on assessing a borrower's character rather than relying solely on traditional metrics like credit scores, income, and collateral.