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Real Mountain Living, Work, and Play

BEDA

Grand County Business & Economic Development Association

BEDA Business Loan

>> Download the complete Business Loan Application Kit

Purpose of the Fund/Loan Selection Criteria:
• To make low interest loans to new or existing business that will benefit the economy of BEDA’s service area.
• The BEDA Fund reserves the right to deny a loan to any business based on analysis of the strengths and weaknesses of the business, management capacity, and loan lending policies.

Loan Interest MTE:
• The BEDA Loan Fund (BLF) makes loans at low interest rates, generally at prime rate, to prime plus one.
• Rates are usually fixed, but may be adjustable over the term of the loan.

Terms of the Loan:
• Generally two (2) years, to a maximum of five (5) years.
• Real Estate and Construction loans are discouraged.
• The minimum loan amount is $1,000
• The maximum loan amount is $5,000

Fees:
• There is a $50 application fee, due upon submission of a completed application package. Applicable fees may be charged at the time of the loan closing.

Loan Processing:
• If your loan application is complete, it may take up to six (6) weeks for the Loan Committee to review, and approve or deny your loan.
• Only complete applications will be reviewed.
• You must enclose the application fee of $50, made payable to the Grand County BEDA Loan Fund, for your application to be reviewed by the Loan Committee.

All business loans will be required to have a personal guarantee.

General Contact Information:
John Dickenson 970-531-2037, johnrd233@yahoo.com
George Davis 970-531-1517, maplestreet@rkymtnhi.com
Contact us Monday – Friday 7:30 – 6 pm by phone, email anytime

Loans can be up to $5,000.  We will consider more with adequate collateral.

>> View and complete the Business Loan Application Kit

 

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