First Southwest Bank Announces Rental Micro-Loan Program

In response to the statewide housing crisis, and as a Certified Community Development Financial Institution bank, First Southwest Bank (FSWB) is offering low-cost, fixed-rate micro-loans of up to $5,000 to cover first month’s rent, last month’s rent and/or a security deposit for eligible renters in La Plata County and all other rural Colorado counties. These micro-loans will assist rural county residents in Colorado to cash flow the initial burden of a new rental lease.

FSWB is offering two distinct programs. The La Plata County Workforce Rental Assistance Program, for La Plata County residents, is made possible through a partnership between FSWB, the La Plata County Economic Development Alliance, La Plata County and the City of Durango. The Colorado Workforce Rental Assistance Program is for all other rural Colorado counties. 

“The initial costs to secure rental housing in Colorado’s rural communities are steep. This funding is available to assist the local workforce in those communities who struggle to cover the cost of first and last month’s rent plus security deposit,” said Kent Curtis, President and CEO, First Southwest Bank “Our communities are stronger when everyone has access to housing.”