(DENVER) -   Today, USDA Rural Development awarded Colorado Housing and Finance Authority (CHFA) $750,000 in funding to support job creation and economic development in rural Colorado. CHFA will contribute $2.25 million of its own funds to the award, generating $3 million in new monies available for loans to businesses in 32 counties comprising eastern, southeastern, and south-central Colorado.

As of June of this year, CHFA had received over $4 million in small business loan requests from rural-area businesses. CHFA estimates the funds will support nearly 200 new or existing jobs over the next 12 months. Counties eligible for participating in the funds were selected based on an evaluation of area out-migration, poverty rates, and unemployment levels.

CHFA was one of 23 applicants nationwide who collectively were awarded over $13.9 million from USDA. This is the third such award CHFA has received from USDA in its 26-year history of small business finance. The other awards were received in 1990 and 1995. CHFA's Rural Development Loan Program supports businesses seeking financing for real estate or equipment purchases.

For more information about CHFA's Rural Development Loan Program visit www.chfainfo.com or call CHFA's Denver office at 1.800.877.chfa (2432) or Western Slope office at 1.800.877.8450.

About Colorado Housing and Finance Authority (CHFA)