Centennial Small Business Loan Fund

graphic for Centennial Small Business Loan Fund

In an effort to aid small business owners in the Centennial community, the City of Centennial and Colorado Enterprise Fund (CEF) have teamed up to establish a Small Business Loan Fund. This loan product can be thought of as a bridge to get small businesses to larger resources. It is not intended to compete with the Small Business Association CARES Act loans. Rather, CEF’s loan program aligns with the underwriting and approval process and standards of the CARES Act loans so borrowers may use a similar process to apply for both. CEF’s goal is to guide borrowers through the process of applying for both sources of funding, providing the financial support they need as they wait to access federal emergency relief programs. This loan can also stand alone for the up to six-year term as another resource for businesses that do not qualify or cannot access SBA CARES Act funding programs.

Specifics on the loan product offered through the Centennial Small Business Loan Fund:

  • Up to $25,000 loans
  • Up to 6-year term
  • 6 months interest-only payments
  • Quick underwriting/approval once all documents are submitted
  • Quick close and disbursement of funds
  • Align with SBA Disaster Relief Loans (longer-term lending options)
  • Exclusive to City of Centennial businesses

Eligibility Requirements

Businesses must be licensed to operate in Centennial, in full compliance with all rules and regulations required by the City of Centennial and in good standing with the City of Centennial;

Businesses must have been in existence before Feb. 15, 2020 and have generated revenue during the fiscal year 2019;

At the time of application and throughout the term of the loan, a business must have its primary office/headquarters or operations within the City of Centennial, Colorado;

Home-based businesses are ineligible;

There are no restrictions on the type of business eligible for loans so long as the activities of the business are legal and in the best interests of the community; provided specifically, however, that marijuana businesses that are unlawful within the City of Centennial and sexually oriented businesses as described in Centennial’s Land Development Code are ineligible.

A business must file all standard Colorado Enterprise (CEF) application information and meet CEF's standard underwriting criteria for the type and size of the loan.

What to Expect During the Application Process

The Centennial Small Business Loan Fund is not available for new loans at this time due to high demand. Existing inquiries and applications will be processed on a first-come, first-served basis.

Businesses are able to apply the week of April 20.

Once your application has been received please allow 3 business days for approval, provided that all necessary paperwork has been submitted

After you have been approved you will need to accept the loan Loan closing and disbursement is to be expected within 14 days after acceptance

Apply Here