Assessments collected since inception of $1,309,167 have leveraged nearly seven times that amount, or $9,134,820 in direct financial investment in district improvements. In addition, the BID has facilitated at least $71,947,390 in development, leveraging tax collections by a factor of 55. Details of these investments are available in this chart of historic leveraging 2018; they include the the Corky Gonzales Library, West End Lofts, mixed-use Mile High Vista project, and a host of commercial and residential buildings. Direct investment in district improvements include Over the Colfax Clover, West Colfax Connects, Colfax Green, GreenFAX and R-O-W improvements being undertaken by WCBID,the City of Denver of Denver and Xcel.
Accessing financing has become a challenge for even the most deserving of borrowers. WCBID can guide your business to access the best possible financing to suit your needs. Here are a couple of the many options, you might want to explore:
SBDC Metro Denver
Colorado Business Loan Agency
West Colfax Small Business Improvement Loan Fund
Are you unable to get loans from banks because you are in a deteriorated neighborhood or an undercapitalized or new business?
Would you qualify as minority-owned or short on capital?
New funding is now available to Denver’s Westside!
- Emergency loans are available.
- Business tenants can borrow! Real estate is not required as collateral.
- And best of all, even lower interest rates or matching grants are available if you are improving your storefront on
West Colfax Avenue.
The West Colfax Business Improvement District and the leading not-for-profit lender in Colorado, the Colorado Enterprise Fund, are teaming up to provide small businesses the funding they need to thrive in a competitive economy. Our goals are to revitalize Westside commercial corridors and bring job opportunities to area residents.
Stop by the BID’s office at 3275 W 14th #202 or call Dan Shah at 303-623-3232 for more information or to apply. Technical assistance to help you make a successful application is available at no charge.
Eligible purposes. Finance new or upgraded equipment purchases, façade improvements, and tenant improvements, property purchases, as well as working capital.
Underwriting. More flexible than bank products, through a process more streamlined than the city, and accepting higher risk loans.
Loan size/term. Between $3000-$50,000, with most between $10,000 and $15,000. Terms of up to four years.