Downtown Opportunity Loan Fund

The Downtown Opportunity Fund is a revitalization incentive program from the City of Montrose and the Montrose Downtown Development Authority (DDA). 

Through the program, property and business owners can receive very low-interest loans, up to $20,000, to complete revitalization projects in the downtown district.The lending process is designed to be simple. 

The Fund is targeted towards improvement projects that enhance the safety, cleanliness, and appeal of downtown properties.


  • Projects must be commercial buildings, not residential. Multi-family residential is eligible.
  • Projects must be located within the DDA boundaries.
  • 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 property owner approval.

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
  • Corrections 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


  • Interest rates will be set at 1/2 of the Prime Rate with a maximum of 3%. 
  • Minimum loan is $2,500.
  • Maximum loan is $20,000.
  • 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.

Learn more about how to apply by clicking here