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FINANCING YOUR STARTUP

 
Longmont EDP has a variety of grant programs for retail businesses and a small business lending program for qualified businesses.  We actively work with local banks, micro lenders, OEDIT, foundations, crowd funding support organizations, and local, state, and federal grant agencies.
 

LONGMONT STARTUP GRANT

 
The purpose of the Advance Longmont Startup Grant Program is to reimburse for profit, brick and mortar businesses starting up within the City of Longmont Targeted Investment Area (map provided). The Advance Longmont Startup Grant Program can also be utilized by businesses for converting and making permanent upgrades and improvements to their properties within the same Targeted Investment Areas. The program will provide a grant of up to $3,000 for eligible business startup costs. This grant money is subject to funding availability and the qualification of the business applicant. A pre-application meeting is required.  For more information, please contact Sergio R. Angeles at sergio@longmont.orgAdvance Longmont Startup Grant Application
Advance Longmont Vendor Request Form & W-9


ADVANCE LONGMONT TARGET INDUSTRIES GRANT

The Advance Longmont Target Industries Grant is designed to support Longmont’s Primary and Local businesses in their expansion efforts.  Utilizing Envision Longmont’s code update and the Advance Longmont Target Industries, the Advance Longmont Target Industries Grant functions by attracting and supporting new and expanding businesses to the area, assisting business owners with building improvements, and assisting with the cost of permitting and licensing, regulatory compliance, equipment purchases or exterior and façade improvements. This program will only reimburse eligible expenses, up to the preapproved grant amount, for projects that have been previewed and accepted administratively.  The Advance Longmont Target Industries Grant is awarded with a cap at $10,000 with a priority given to Longmont businesses. A deep understanding of how these funds will be utilized is imperative to executing a successful application submission. For more information, please contact Sergio Angeles at sergio@longmont.orgAdvance Longmont Target Industries Grant Application
Advance Longmont Vendor Request Form & W-9


LONGMONT ENTREPRENEURIAL FUND (LEF)  

Longmont Entrepreneurial Fund (LEF) LEF stimulates business creation in Longmont by providing annual grants of $1,000 to $25,000 to startups. LEF has partnered with TinkerMill (www.tinkermill.org), the largest makerspace in Colorado, to screen business startups and ensure that those who receive funding will have the greatest chance for success. All startups that are granted money will pledge a share of their equity back to the Longmont Entrepreneurial Fund, thereby creating funding opportunities for the next wave of startup businesses. learn more
 

LONGMONT IGNITE! 

Be a part of a group that has fun while contributing to the success of Longmont’s entrepreneurial environment. When you donate $1,000 or more to the LEF, you will have the first opportunity to learn about business startups and interact with their creators at gatherings throughout the year. At these gatherings, Longmont Ignite members may decide to invest in startup businesses at a future date and/or provide guidance to new startup. learn more
 

BOOTSTRAPPING YOUR BUSINESS

Tips for Borrowing Startup Funds from Friends or Family – A surprisingly large number of small businesses get started with money from those they know well. Here are some factors to consider before you do so.   learn more
 

MICRO LENDERS

Micro Lenders can potentially provide business loans to individuals who do not qualify for traditional business loans.
  • Colorado Enterprise Fund is a not-for-profit resource for small business financing.  Colorado Enterprise Fund lends to start-ups and existing small businesses throughout Colorado. Their small business loans range from $1,000 to $500,000, with variable rates and terms. Their lending guidelines are more flexible than traditional banks and they review all aspects of your request in their decision making process.  learn more
  • Colorado Lending Source is a not-for-profit resource for small business financing.  They serve as a bridge connecting small business owners with the loan programs, lenders and support they need to succeed. A Small Business Administration Community Advantage Loan can offer financing from $50,000 to $250,000 for a variety of business needs.  This loan is an SBA 7(a) loan that is financed by a mission-based lender like the Colorado Lending Source, rather than directly through a bank.      learn more
  • Accion is a non-profit organization that provides the tools entrepreneurs need to operate, grow or start their business.  They help increase access to business credit, make loans and provide training to help entrepreneurs make their businesses thrive.  Accion offers small business loans ranging from $1,000 to $1,000,000 and other support, including credit reporting, business counseling, publicity opportunities and educational business resource events.  learn more
 

STATE FUNDING AND INCENTIVES

Colorado offers various tax incentives, funding programs, and other support that you need to succeed. learn more
Jeff Kraft, Director of Business Funding & Incentives                            
Phone: (303) 892-3840  
Email:  Jeff.kraft@state.co.us
Longmont Economic Development Partnership
630 15th Avenue, Suite 100A
Longmont, CO 80501
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