The Construction Capital Fund provides working capital to construction and construction-related businesses in preparation for bid submission as prime or sub-contractors on projects for the Durango 9-R Bond Program. The goal of this fund is to help provide access to capital for entrepreneurs / small contractors who would not normally be able to undertake large contracts. This fund is a collaboration between First Southwest Community Fund, First Southwest Bank and Region 9 EDD.
About the Loan
- Loan Amount: $10,000 – $5,000,000
- Interest rate: 3-6%
- Use of Proceeds: Working capital/operating needs, equipment purchases, inventory
- Loan Term: Up to 10 years
- Payment Deferral: Initial payment deferrals may be available
- Eligibility: Any company based within 75 miles of Durango/La Plata who is bidding as a prime or sub-contractor or contracted supplier on the Durango 9-R Bond Program. Must be licensed to do business and in good standing in Colorado.
All loans are subject to underwriting criteria.