Women and minority entrepreneurs now have the opportunity to apply for gap financing from Denver International (DEN).
The $1 million revolving loan fund, called the Airport Concession Loan Program, provides financial help for first-time concessionaires. The airport’s revenue management division administers the program and will provide up to $250,000 per loan for gap financing during initial construction of retail or dining spaces.
“Denver International Airport generated a record $336 million in gross concessions revenue in 2015, making DEN a very attractive place to do business,” says Bhavesh Patel, chief revenue officer for DEN. “But getting your start in the highly competitive airport business environment requires a tremendous amount of time, energy and capital investment. This revolving loan program provides a mechanism for new airport concessionaires to tap into gap financing during build-out and helps support our newest partners as their business venture takes off.”
Business owners must be certified within the Airport Concession Disadvantaged Business Enterprise program, must be new to airport concessions and show a need for gap financing to be eligible, among other requirements.
