Federal Programs

Delta County has been designated a “HUBZone” by the U.S. Small Business Administration. The HUBZone Empowerment Contracting Program is a “place-based” federal contracting program serving new market communities with low income or high unemployment. The federal government purchases about $200 billion work of goods and services annually, and 3% of the total value of all prime contracts will be allocated to businesses located in a HUBZone. The HUBZone program provides both federal prime and subcontract benefits.

The goal of the program is to bring job opportunities and capital investment to underutilized areas, and serves as a vital tool to build sustainable communities and promote long-term economic development and growth.

The Small Business Administration offers long-term, low cost, low interest loans to Colorado’s small businesses. They also provide loans for land, buildings, equipment and machinery through the 504 and 7(a) programs.

The Small Business Development Center offers training and free consulting to small business owners. SBDC offers services tailored to a company’s needs utilizing current resources such as databases, handbooks and outside consultants in a variety of specialized areas companies may require. SBDC coordinates public and private networks throughout the State to provide companies with information and solutions to financial management, administrative, personnel, marketing and other related questions. For further information, please contact the SBDC at (970) 943-3157. View the SBA website by clicking on the icon below.

The USDA has created the Business and Industry Loan Guarantee program to provide an incentive for business lending which will save and create jobs in rural areas. The USDA guarantees business loans made by banks in unincorporated rural areas, cities, and towns with populations less that 50,000. The typical amount of assistance is between $300,000 and $10 million dollars, and loans can be used for real estate, equipment, working capital, and refinancing for non-farm businesses. For further information, see the USDA website by clicking on the icon below.