CDA launches Future Loan Program
Broomfield, Colo. — The Colorado Department of Agriculture has launched the Colorado Agricultural Future Loan Program, a new financially inclusive lending program that offers financing to farmers, ranchers and agriculturally supportive business owners who have the skills, training and vision to succeed, but simply lack funding. The department has selected First Southwest Bank, based in Alamosa, as the official lending partner of the Colorado Agricultural Future Loan Program.
Funding for the Colorado Agricultural Future Loan Program comes from Colorado’s stimulus legislation – Senate Bill 21-248 – which appropriated funding to a revolving loan program to support agricultural production.
“Colorado’s agriculture is broad and diverse, and this program will help more people gain access to financing that will increase the diversity of our food system while continuing to invest in the future of Colorado agriculture,” Colorado Commissioner of Agriculture Kate Greenberg said. “Growing and raising food is hard work, and CDA is here to provide the financial and technical support to those who have the training and commitment necessary to succeed. Providing flexible, low interest loans to ag entrepreneurs will help ensure a secure farming and ranching future for Colorado.”
The Department of Agriculture has partnered with First Southwest Bank, a community-based lender with more than 100 years of experience in serving Southern and rural Colorado, with key lending relationships across the state.
“We strive to provide opportunities for equal access to capital for entrepreneurs and small businesses in rural Colorado. This partnership builds on our 100-year history supporting the agricultural industry and is one more way for us to do that,” said Kent Curtis, President and CEO of First Southwest Bank. “Our goal is to make it easy for farmers and ranchers to qualify and receive low-interest, fixed-rate loans to launch or expand their ag business with the goal of sustaining Colorado’s agricultural industry for generations.”
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