Need Access to Capital?

Need Access to Capital?

11-Dec-2014

Access to Capital


Business Loan Funds, Venture Capital Networks, and Local Investing
The Northwest Business Development Center (SBDC) 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 local and angel investing.

Before you look into access to capital, we recommend reading “Can I Qualify for a Business Loan?“. Also, reading “Taking on Debt to Grow Your Business” will help you understand your options for acquiring debt before you need it. And reading “3 Advance Steps to Prepare for Applying for a Loan” will provide you with three steps you need to take before applying for a loan.


Funding Opportunities


In addition to the local bank lending programs, please review the following loan opportunities:

ACCION New Mexico • Arizona • Colorado

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. ACCION has also partnered with Samuel Adams Brewing on a unique program helping food, beverage and hospitality entrepreneurs with the tools they need to help their small businesses succeed.

ACCION New Mexico • Arizona • Colorado
Colorado Loan Officer
P.O. Box 181367, Denver, Colorado 80218
T: (303) 904-9362
info@accionco.org

Colorado Bankers Association
The Colorado Bankers Association is a one-stop resource for small businesses in Colorado that helps them find access to capital and funding for their business.

Colorado Business Loan Agency
The Colorado Business Loan Agency (CBLA) is a financing assistance resource for small-to-medium sized businesses. CBLA provides financing experts to lead the process for most funding needs. CBLA typically works with businesses based in Colorado and the Rocky Mountain Region, providing guidance on loans ranging from $10,000 to $10 Million – and in certain cases, may provide 100% financing options.

Colorado Enterprise Fund (CEF)

Recognized as the state’s top nonprofit lending institution, Colorado Enterprise Fund (CEF) is a respected alternative lending source specializing in loans for small businesses and start-ups unable to receive traditional bank financing. For more than 35 years, in partnership with banks, foundations, government entities and industry leaders, CEF has provided more than $34 million in loans to over 1400 businesses to help create or retain over 8700 jobs in Colorado. Committed to providing more than just a loan, CEF offers customized in-house business training and coaching to all its borrowers to ensure they succeed and their communities thrive. Types of small businesses helped by CEF include but are not limited to breweries, food trucks, restaurants, salons, stores, tech firms, manufacturing, publishers, professional services and contractors.

Colorado Enterprise Fund
1888 Sherman Street #530, Denver, Colorado 80203
T: (303) 860-0242; F: (303) 860-0409
Mike Jensen, Loan Officer

Colorado Housing and Financing Authority (CHFA)
Since 1982, CHFA’s Business Finance team has partnered with a wide range of traditional and non-traditional lenders, economic developers, and other stakeholders to help small businesses access capital needed to grow and expand.

Colorado Credit Reserve Program
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)

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: Nicole Christianson
2520 South Grand Avenue, Glenwood Springs, Colorado 81601
T: (970) 947-1400

The Denver Office of Economic Development

The Denver Office of Economic Development now offers the Denver Capital Matrix, a new resource directory of funding sources for Denver small businesses and entrepreneurs. The matrix identifies more than 250 funding sources, including traditional bank lending, venture capital firms, private equity firms, angel investors, mezzanine sources and others that have funded Colorado businesses. The matrix provides contact information and categorizes the investment focus of each listed organization.

Go Ahead Funding
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.

Go Ahead Funding: Matt Ross
info@goaheadfunding.com
T: 888-848-6825, ext. 9364

Gust
Gust provides the global platform for the sourcing and management of early-stage investments. Gust enables skilled entrepreneurs to collaborate with the smartest investors by virtually supporting all aspects of the investment relationship, from initial pitch to successful exit.

Liquid Capital of Colorado
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.

Liquid Capital of Colorado
Attn: Patrick Dawson
1401 Onyx Circle, Longmont, CO 80504
T: (303) 774-7623; F: (303) 774-7689
PDawson@liquidCapitalofCo.com

Mile High Community Loan Fund
Mile High Community Loan Fund is a fourteen year old loan fund that invests in affordable housing and other community assets that create economic opportunity for low-income people and communities in Colorado.

Northwest Loan Fund
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
Anita Cameron
Business Loan Officer
nlf@nwccog.org
970.468.0295 x119

On Deck Capital
On Deck is using technology to make the borrowing process simple, fast and transparent for small business owners nationwide. On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the On Deck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels.

Small Business Administration (SBA) Loan Programs
All Small Business Administration (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. Contact: James Van Horn, Lender Relations Specialist – (303) 844-2607, ext. 204.

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 here.

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.

State of Colorado Venture Capital Authority (VCA)
In 2005, the State of Colorado Venture Capital Authority (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)
Our financial programs support such essential public facilities and services as water and sewer systems, housing, health clinics, emergency service facilities and electric and telephone service. We promote economic development by supporting loans to businesses through banks , credit unions and community-managed lending pools. We offer technical assistance and information to help agricultural producers and cooperatives get started and improve the effectiveness of their operations. We provide technical assistance to help communities undertake community empowerment programs.

Associated Governments of Northwest Colorado (AGNC)
The Northwest Colorado 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.

SoMoLend (Social, Mobile, Local Lending)
SoMoLend exists to help entrepreneurs and business owners by matching businesses who want to borrow money with investors who want to lend. Our goal is to help every business owner secure the funding they need at the lowest interest rates possible. For more information, contact: info@somolend.com

Small Business Administration Loans with 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 click here to apply.

SBA Small Business Loans at Sam’s Club
SBA Small Business Loans at Sam’s Club 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. Visit here or call a Representative at 1-877-675-0500 for more information.
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