Making the move into a rental?
We can help with up-front expenses.
Finding a place to live often means coming up with first month’s rent, last month’s rent, and a security deposit—all at once.
That upfront cost can be a major barrier, even for working households.
You’re not alone—and help is available.
Our Rental Assistance Micro-Loan Program offers low‐cost,
fixed‐rate micro‐loans to help renters cover:
- First month’s rent
- Last month’s rent
- Security deposit
stay stable, and move forward.
Why This Program?
- Affordable, fixed interest rates
- Built for workers and families
- Helps remove one of the biggest barriers to housing
- Simple application process
La Plata County Renters
(Scroll down for all other rural Colorado counties.)
The La Plata County Workforce Rental Assistance Program offers 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 La Plata County renters.
Loan Terms:
- $5,000 Maximum Loan Amount
- Unsecured (no collateral required)
- 4% Annual Percentage Rate*
- Payable over 3 years with monthly principal and interest payments
- *$5,000 loan amount @ 4% Annual Percentage Rate: 36 monthly payments of $147.62
- No associated fees or pre-payment penalty
Requirements:
- Borrower must make 120% or less of Area Median Income (AMI) for La Plata County. *If you make more than 80% of AMI you may be eligible for our Workforce Rental Assistance Program offered below.
- Lease agreement must be for a minimum of one year. Proof of lease must be provided.
- Rental property must be located in La Plata County.
- Minimum FICO score of 660 with no active collections.
- Loan will be limited to one loan per residence. Co-borrowers are permitted though loans will be capped at $5,000.
- No preferred rate reduction for automatic payment.
The La Plata County Workforce Rental Assistance Program is made possible through a partnership between La Plata Economic Development Alliance, La Plata County, and First Southwest Bank.
A resident of another rural Colorado county?
The Workforce Rental Assistance Program offers 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 all other Colorado rural counties.
Loan Terms:
- $5,000 Maximum Loan Amount
- Unsecured (no collateral required)
- 4% Annual Percentage Rate*
- Payable over 3 years with monthly principal and interest payments
- *$5,000 loan amount @ 4% Annual Percentage Rate: 36 monthly payments of $147.62
- No associated fees or pre-payment penalty
Requirements:
- Borrower must make 100% or less of Area Median Income (AMI) for the county they will reside in.
- Lease agreement must be for a minimum of one year. Proof of NEW 12-month lease must be provided.
- Borrower must have a 660+ credit score with no active collections.
- Loan will be limited to one loan per residence. Co-borrowers are permitted though loans will be capped at $5,000.
- No preferred rate reduction for automatic payment.
All loans are subject to credit approval.