Localworks Improvement Loan Program

If you’re a Wheat Ridge homeowner with ideas of renovating a room or envision new landscaping for your front yard, Localworks has a loan program for helping your vision become reality.  Our program is perfect for energy improvements or structural, mechanical and electrical repairs.  Plus, any improvement to your home helps increase the value of your property.

This low-interest loan program is also available to Wheat Ridge business owners interested in making dramatic and visible changes with the goal of improving the economic vitality and appearance of your commercial property.  We can provide funding to help with your building’s façade facelift for customer attraction and curb appeal, or interior renovations to remain compliant with building codes and avoid fines.

Program Details

Eligibility:  Any resident or business within the city boundaries of Wheat Ridge.

Loan Term:  5 Years (amortized over 20 years)

Interest Rate:

  • Year 1:  0%
  • Years 2-5:  1% below WSJ Prime Rate  [Final payment ballooned at end of year 5]
  • Years 6-10 (if loan extension is requested):  1% above WSJ Prime Rate

Approval Criteria and Process: Evidence of sufficient cash flow to repay loan, and sufficient collaterl to secure the debt. Personal guarantees are required. Code compliance and permit(s) with the City of Wheat Ridge are required. Localworks performs an underwriting process and site visit. Final loan approval will be made by the Localworks Loan Committee.

For Home Improvement

Loan Limit:
80% of project cost, up to $30,000

Application Fee:
$250 plus legal & closing costs

Eligible Projects:

  • Exterior Façade Improvements
  • Structural, Mechanical & Electrical Repairs
  • Landscaping
  • Interior Renovations
  • Energy Improvements
Download Home Improvement Loan Application

For Business Improvement

Loan Limit:
80% of project cost, up to $50,000

Application Fee:
$500 plus legal & closing costs

Eligible Projects:

  • Exterior Façade Improvements
  • Sign Repairs / Landscaping
  • Interior Renovations
  • Small Business Equipment Purchases
  • New Commercial Development
Download Business Improvement Loan Application

*If you have problems downloading the file, please call the office at (720)259-1030.