First Southwest Community Fund creates #SouthwestStrong microloan
STATEWIDE — As the Spring, 416 and Burro fires continue to impact small businesses and jobs in Southwest Colorado, First Southwest Community Fund (FSWCF) has developed a low-interest, fixed-rate microloan program — the #SouthwestStrong Fire Relief Business Loan — for local businesses that have had a direct impact in the form of evacuation, pre-evacuation, or are unable to access or operate their business services due to restrictions placed.
#SouthwestStrong Fire Relief Business Loan Details:
• Applications open immediately.
• Primary revenue stream has to have been impacted or disrupted.
• Minimum loan amount of $1,500 and maximum loan amount of $5,000.
• Concentrate primarily in the San Luis Valley, La Plata, San Juan, Archuleta, and Montezuma Counties.
• Business must intend to reopen, when they can.
• Business must be two years or older with 15 employees or less, employee restrictions may apply.
• For the response to be timely to the need of the business, an approval decision will be reached within 24 hours of receiving a complete application and the loan will be scheduled to close for next day funding.
• Origination fee paid by First Southwest Bank, on behalf of borrower.
• All other closing fees will be waived.
For more information please contact Kent Curtis, 970.422.5054, or [email protected].