The Center works with local financial institutions to facilitate the conventional loan application process. We are also investigating and hope to develop financing alternatives and vehicles to fund businesses from Parachute to Aspen, including business loan funds, venture capital networks, and angel investing.
Before you look into access to capital, we recommend reading "Can I Qualify for a Business Loan?", by clicking here. Also, this article will help you understand your options for acquiring debt before you need it.
In addition to the conventional bank lending programs, please review the following loan opportunities:
ACCION New Mexico • Arizona • Colorado www.accionnm.org ACCION is a nonprofit organization dedicated to providing the tools you need to operate and grow your business. We offer loans between $200 and $300,000 along with training and other support services to entrepreneurs who own or want to start a small business. Founded in Albuquerque in 1994, ACCION has issued 4,936 microloans totaling more than $32.1 million to support the start-up or growth of 3,134 microenterprises in 255 communities in New Mexico, Arizona and Colorado.
Colorado Enterprise Fund is a nonprofit community development business loan fund. Our purpose is to foster economic opportunity and create jobs through business ownership and expansion. CEF has provided over 850 loans totaling over $17.2 million to Colorado businesses that are not able to obtain adequate bank financing. We support our borrowers with business counseling and technical assistance to ensure loan repayment and business success. CEF has been serving Colorado small businesses since 1976.
Colorado Enterprise Fund 1888 Sherman Street #530, Denver, CO 80203 T: (303) 860-0242; F: (303) 860-0409
Colorado Housing and Financing Authority (CHFA) www.chfainfo.com The mission of CHFA is to finance the places where people live and work throughout Colorado. CHFA provides fixed rate financing to homebuyers, small to medium sized businesses, and multifamily rental housing developers. CHFA also provides education and technical assistance about affordable housing and economic development.
Colorado Credit Reserve www.chfainfo.com/business/ccr/ccr.icm The Colorado Credit Reserve program creates greater access to capital for small businesses in Colorado by using small amounts of public resources to encourage private bank financing. It provides an incentive for banks to offer businesses loans by creating a pooled reserve account to fund losses associated with loans registered in the program. The state Office of Economic Development and International Trade provided $2.5 million in additional funding for the program which is administered by the Colorado Housing and Finance Authority (CHFA).
Colorado Lending Source (CLS) www.coloradolendingsource.org The SBA 504 loan program is usually the BEST financing option around for owners who are buying, improving or constructing commercial facilities primarily occupied by their small businesses. The 504 loan program can also be used to finance long term capital equipment. Colorado Lending Source is primarily involved with packaging, closing, funding, servicing and liquidating SBA 504 loans , working directly with small business owners and lenders. In addition, they can also assist banks and lenders with packaging and processing SBA 7(a) loans too.
Colorado Lending Source
Attn: Tod Cecil
2520 South Grand Avenue, Glenwood Springs, CO 81601
T: (970) 947-1400
Go Ahead Funding www.goaheadfunding.com Go Ahead Funding has over 7 years of experience in the merchant cash
advance field and has branched out to provide asset based lending as
well as receivables based financing. With over 20 years of experience in
the outdoor retail markets, Go Ahead Funding can provide you with a
funding source that will meet your needs.
Whether you are looking to expand your business, remodel your
location, purchase additional inventory or start a new advertising
campaign, Go Ahead Funding can provide you with your funds.
Since 1999 Liquid Capital has been providing working capital to companies of any size, regardless of a company’s credit rating or length of time in business. Financing alternatives include: accounts receivable financing, full and spot factoring, purchase order financing, construction factoring, inventory financing, export and import factoring, asset-based lending, and asset sale-leaseback.
The Northwest Loan Fund is a quasi-governmental agency that specializes in financing for start-up and young, expanding small businesses that are unable to obtain conventional funding due to the high risk associated with such businesses. The Fund focuses on projects which diversify the economy, create new jobs, and provide lasting community benefits.
Northwest Loan Fund Attn: June Walters P.O. Box 2308, Silverthorne, CO 80498
T: (800) 332-3669
Small Business Administration (SBA) Loan Programs http://usgovinfo.about.com/od/smallbusiness/a/sbaloans.htm All SBA loan programs lend to small businesses unable to secure financing on reasonable terms through normal lending channels. The loan programs are operated through private-sector lenders that provide loans which are, in turn, guaranteed by the SBA -- the Agency has no funds for direct lending or grants. Most private lenders (banks, credit unions, etc.) are familiar with SBA loan programs so interested applicants should contact their local lender for further information and assistance in the SBA loan application process.
State of Colorado The State of Colorado has created a website with information on federal funds going to counties in the state. Information on American Recovery and Reinvestment Act funds received by all 64 counties in the state can be found at www.colorado.gov/recovery
State of Colorado Business Financial Assistance Options Colorado Office of Economic Development and International Trade (OEDIT) Business Finance Programs The Business Finance Division brings together several financing tools, including debt and equity financing, cash incentives, grants and tax credits to support economic development activities that improve and support employment opportunities in Colorado. Explore their website and contact them to learn more. http://www.colorado.gov/cs/Satellite/OEDIT/OEDIT/1165009699726
State of Colorado Venture Capital Authority (VCA) www.colorado.gov/cs/Satellite?c=Page&cid=1167928016932&pagename=OEDIT%2FOEDITLayout In 2005, the VCA selected a fund manager (High Country Venture, LLC) and established its first fund of approximately $25 million (Colorado Fund 1). Colorado Fund 1 will make seed- and early-stage capital investments in business. The VCA anticipates the establishment of a second fund of approximately $25 million in 2010. State approval is limited to ensuring that businesses receiving funding meet specific requirements. The minimum and maximum investment size may generally range from $250,000 -$3.375 million.
For more information or an application, contact Kevin Tilson, Manager, Venture Capital Authority.
U.S. Department of Agriculture (USDA) www.usdaloans.com/lending-guide/usda-grants.html The USDA's Rural Development Division has designed loan and grant programs to spur business lending and commercial growth for small businesses in rural areas. These programs can help small businesses and entrepreneurs by loaning money for building and capital purchases.
Associated Governments of Northwest Colorado (AGNC) Northwest Colorado Enterprise Zone http://www.agnc.org/enterprise.html The Enterprise Zone program provides incentives for private enterprise to expand and for new businesses to locate in economically distressed areas of the state. Businesses located in an NW Colorado Enterprise Zone may qualify for up to nine Enterprise Zone Tax Credits that encourage job creation and investment. In Garfield County, the area extends from the western border of the county to New Castle.
SBA Small Business Loans at Office Depot Office Depot recently announced a new partnership with Superior Financial Group (SFG), the Nation's leading Small Business Administration (SBA) lender, to provide qualified small business customers with access to capital in the form of SBA Loans from $5,000 to $25,000. If you have questions, call Superior Financial Group at 1-877-675-0500 and mention Office Depot or go to www.officedepot.com/sba to apply.
SBA Small Business Loans at Sam's Club Sam’s Club also has a relationship with Superior Financial Group for loans from $5,000 to $25,000. Sam’s Club offers its members a 20% discount on loan fees (a $100 value), low affordable interest rates with simple easy terms, and no collateral required. Go to www.samsclub.com/sams/pagedetails/content.jsp?pageName=sbaLoanProgram or call a Representative at 1-877-675-0500 for more information.
Copyright 2009-2012 Roaring Fork Business Resource CenterAll rights reserved. P.O. Box 987 817 Colorado Avenue #107 Glenwood Springs, CO 81602 (p) (970) 945-5158 (f) (970) 945-5147 info@rfbrc.orgContact Us Website design by Symbion Design, Inc.
Roaring Fork Business Resource Center (RFBRC) is not responsible for the content of external Internet sites.
