Lauren Kloock | Aug. 21, 2017

January 26, 2017

Colorado Lending Source Reveals 2016 Economic Impact and Announces Small Business and Lender Awards during the 2016 Annual Meeting

DENVER, CO—Colorado Lending Source, the state’s not-for-profit small business lender, shared the organization’s economic impact and revealed their small business and top lender awards during the 2016 Annual Meeting on January 26, 2017.

Every year, Colorado Lending Source hosts their Annual Meeting to help spread awareness of the importance of small business lending, and to highlight the incredible businesses and partner lenders they have worked with throughout the year. In 2016, the positive impact Colorado Lending Source had on the economy included approving a total of 270 loans (across four lending programs), which helped create 1,845 jobs injecting $345,988,124.21 into small businesses. Specifically, loans were approved in 15 different industry categories spanning 130 unique types of businesses in 65 Colorado cities and 27 Colorado counties.

Executive Director, Mike O’Donnell expressed the purpose of Colorado Lending Source’s Annual Meeting:

“The Annual Meeting is our celebration of small businesses, community lenders, the Small Business Administration and our direct lending programs, where in partnership with one another, we can provide access to affordable capital that doesn’t exist elsewhere. We also like to take the time to acknowledge the incredible small businesses that do so much for our economy and remind us why we live, work and play in Colorado. We were thrilled to see so many people come out to celebrate our success and small business achievements in 2016. We can’t wait to see what 2017 has in store for us!”

Five Small Business Excellence Awards were given to entrepreneurs who received financing from one of Colorado Lending Source’s lending programs. The businesses that were awarded included Clear Intentions, Maria Empanada, Sample Supports, Sweet Action Ice Cream, and Vortic Watch Co. Also, the Ice House Entrepreneurship Achievement Award was given to Juana Gonzales from Mile High Delights for effectively implementing strategies taught in the Ice House Entrepreneurship Program and for launching her business as a result of the program.

There were four top lender and bank awards that Colorado Lending Source recognized at the event as well. These awards acknowledge the bank or lender that approved the highest number of loans in partnership with Colorado Lending Source. FirstBank received the Top SBA 504 Partner Bank Award, and First National Denver received the Top SBA 7(a) Partner Bank Award. Rick McMann from U.S. Bank and Chris Cerveny from Citywide Banks both approved the most SBA 504 loans in 2016 and tied to receive the Top SBA 504 Partner Lender Award.