DART LogoBusiness Opportunity Funds

The Montrose Opportunity Fund and the Downtown Opportunity Fund are two components of a revitalization incentive program from the City of Montrose. Through the programs, property and business owners can receive low-interest loans for up to $20,000 to complete revitalization projects. The lending process is designed to be simple. The funds are targeted toward improvement projects that enhance the safety, cleanliness, and appeal of business properties in the downtown area and throughout Montrose.

  • Interest rates will be set at half of the prime rate with a maximum rate of 3%. 
  • Minimum loan is $2,500. The maximum loan is $20,000.
  • A personal guaranty is required by all owners with a 20% or more stake in the company or property.
  • Repayment terms will be a maximum of seven years, with five years being the standard loan term.
  • Projects must be commercial buildings, not residential. Multi-family residential is eligible.
  • Projects must be located within the downtown business district to be eligible for participation in the Downtown Opportunity Fund or within the City of Montrose to be eligible for the Montrose Opportunity Fund.
  • Projects must comply with City of Montrose planning and building codes.
  • Applicant must provide all necessary documentation.
  • Loan dollars can only be used for eligible expenses.
  • A detailed estimate of total project work from licensed contractors is required.
  • Lessees may receive loans for improvements to leased property but must have written approval from the property owner.
Eligible Items
  • Facade improvements
  • Cleaning of facade materials, painting, brick pointing, and other building improvements
  • Removal and replacement of signage or new signage
  • Replacement, repair, and renovation of roofs
  • Correction of code deficiencies
  • Improvement or replacement of electrical, plumbing, heating, ventilation, and/or air conditioning systems
  • Modifications to improve accessibility to businesses
  • Architectural fees and labor expenses for eligible improvements
Ineligible Items
  • Non-permanent equipment and merchandising fixtures
  • Building permit fees and other fees
  • Demolition or acquisition of property
  • Working capital


Step 1: Pre-Application and Initial Project Meeting

  • Fill out the Pre-Application Form.  
  • Administrative staff will review the pre-application and contact applicants to set up an initial meeting with a fund administrator.
  • Administrative staff and the fund administrator will determine initial eligibility and, if eligible, provide the applicant with a full application.

Step 2: Submit an Application and Supporting Materials - Provide the following information for review of the loan request:

  • Completed application
  • Business plan
  • At least two years of financial records and/or projections, including past tax returns when available.
  • Professional estimate for proposed project work
  • Drawings, renderings, color palettes, or other relevant project materials
  • Credit report release authorization and liability waiver

Step 3: Review Committee - The request for funding will be reviewed by the fund administrator and a recommendation made to the loan review committee.

Step 4: Documentation - If approved, the fund administrator will set up a meeting with the applicant to sign all the necessary documents.

Step 5: Monitoring and Quarterly Review Meetings

The steps shown here are not intended as an exhaustive description of the underwriting process but provide an idea of some of the review factors. In all cases, a well-written business plan, accompanied by complete and accurate financial statements, will provide the best opportunity for funding.

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