Loans Available for Pagosa Businsses Affected by Flooding

In response to the flooding in Archuleta County, Region 9 Economic Development District is activating their Business Disruption Loan Program to help businesses recover and remain operational during this critical time.

Here are the highlights of the program:

Loan Amounts: $1,000–$10,000
Interest Rate: 0% for the first 6 months; 1% interest-only for months 7–12; fixed Prime rate thereafter
Repayment Terms: 24–48 months (depending on loan size)
Use of Funds: Payroll, rent, utilities, and other essential operating costs
Collateral: Personal guarantees and a blanket lien (UCC-1) on business assets

This program is designed for cash flow relief while businesses await insurance settlements, SBA assistance, or customer recovery. It complements Region 9’s standard Business Loan Fund, which can provide larger loans for rebuilding, inventory replacement, or equipment purchases.

Interested businesses should contact:
Jenny Stollar or Ricardo Arrieta
jenny@region9edd.org | (970) 247-9621
ricardo@region9edd.org

Applicants will need to provide:
A short statement of business impact and recovery goals
Current financials and a simple budget showing intended use of funds
A personal financial statement and job retention estimate

Priority will be given to businesses demonstrating the ability to reopen or retain employees and those leveraging additional funding sources.

Please help us spread the word to affected businesses in your community. If you need assistance completing an application, Region 9 is available to walk you through the process.

Thank you for continuing to support local recovery efforts.