NBR Loan Program

Neighborhood Business Revitalization Loan (NBR) and Neighborhood Marketplace Initiative (NMI) Program
The NBR and NMI program works by assisting entrepreneurs in starting or expanding their businesses in targeted Denver neighborhoods. The Denver Office of Economic Development provides gap financing, technical assistance, permitting assistance and design consultation  to enhance investment opportunities in NBR and NMI target areas. Older business districts such as South Broadway, Santa Fe Drive, Highlands Square and others have experienced an economic renaissance as a result these Denver programs.

Primary Goals
  • To stimulate the revitalization of older neighborhood commercial districts designated as NBR and NMI target areas by the City and County of Denver.
  • To provide economic opportunities in Denver for new and expanding neighborhood serving businesses, including minority and women owned businesses.
  • To enhance the quality and level of goods and services available in Denver's low and moderate income residential neighborhoods.
  • To create permanent jobs for low- and moderate-income Denver residents.

NBR and NMI Program Criteria
  • The applicant's project must be located in one of Denver's targeted commercial districts:
    • Downing Street - between 31st Avenue to 35th Avenue;  Bruce Randolph Avenue between Downing to York; York Street - between Bruce Randolph to 38th Avenue
    • East Colfax Avenue - between Broadway to Colorado Blvd.
    • Larimer Business Street District - between 20th Street to Park Avenue West
    • Morrison Road - between Knox Ct. to Sheridan Blvd. 
    • Santa Fe Drive - between Alameda Avenue to 13th Avenue
    • Welton Street - between 20th Street to 30th Street and Washington Street - between 24th Avenue to 26th Avenue
    • Berkeley/Tennyson Corridor (Tennyson Street between 38th Avenue to 45th Avenue
    • West 38th Avenue -  between Jason Street to Federal Boulevard

  • The applicant must provide goods or services to adjacent Denver residential neighborhoods, create permanent jobs for low- and moderate-income Denver residents, or assist in the elimination of slum and blight conditions in a targeted commercial district.

  • New equity and new private financing must be maximized, fully committed to the project, and account for at least 50% of total project costs. Facade improvement loans requiring lower levels of private participation may be available in selected districts.

  • The applicant must provide sufficient evidence that the amount of funds requested from the City is necessary for the project to succeed. This evidence must show a gap in available financing to cover project costs, the rate of return to the investor(s) is too low, or project costs related to the site are not competitive with alternative sites.

  • The applicant must demonstrate the ability to repay the City's loan and provide adequate collateral for securing the City's loan.

  • City loan proceeds can be used for a variety of project costs, including real estate acquisition, new construction, rehabilitation, equipment purchases, and working capital. City funds cannot, however, be used for refinancing of existing debt.

  • All projects must receive approval from the local design review committee for signage and exterior storefront design.

  • Most construction costs funded by the City require payment of prevailing wage rates for construction workers.

  • The interest rate, term, and amortization for the City's loan will be structured to allow for a reasonable rate of return to the investor(s) and adequate cash flow to service project debt.

Application Procedures

  • The applicant needs to contact a Small Business Economic Development Specialist at OED to obtain additional information about the NBR and NMIProgram, including the requirements for submitting an application for funding. If help is needed in preparing a loan application, the Specialist can refer the applicant to available technical resource centers for further assistance.

  • After the applicant has assembled the necessary information for a complete business plan, the next step is to secure all of the equity and private financing available for the project. The applicant can explain the NBR and NMI Program to investors and banks to further induce them to participate in the project.

  • If sources of funding fall short or other economic deficiencies exist in the project, the applicant may submit an application for NBR and NMI funding to a Small Business Economic Development Specialist, at OED.

  • The Small Business Economic Development Specialist will analyze the loan application and advise the applicant of any deficiencies which need to be addressed. Once an application is complete and meets the criteria for the NBR and NMI Program, the Specialist will recommend the application to the loan review committee for approval. The loan approval process takes approximately two weeks after a completed loan application is received.

  • Once the loan application has been approved for funding, the Specialist will request that the City Attorney prepare a formal loan agreement. Upon full execution and satisfaction of the contingencies of the loan agreement by the applicant, a loan closing will be scheduled. Depending upon the complexity of the loan application; the execution of the loan agreement and the loan closing process can take an additional eight to ten weeks.

Contact Us

For further information, please contact a Small Business Economic Development Specialist at 720.913.1999.