How financing your dreams helps us fulfill our mission to foster the economic growth of diverse small businesses.
We became a lender 28 years ago, and since then have worked to help ensure Colorado is a great place to start and grow a business.
Today, we offer four small business loan programs to meet financing needs from $5,000 to $5.5 million.
As our mission states, economic growth is important to us and we fulfill this element of our mission in a number of ways whether it is through lending activity, educational offerings (including a 10-week entrepreneur development course), partnerships with resources throughout our communities, or providing free event space to like-minded organizations.
A little more than two years ago we found a clear way to increase our economic impact with the Community Advantage loan program. This is a Small Business Administration regulated program that, instead of being offered through your local bank, is only available from mission-driven, non-profit lenders such as Colorado Lending Source. Adding this program has allowed us to fill a gap in our financing options, and also in a market where smaller loans ranging from $50,000 to $250,000 have become increasingly more difficult to obtain.
Community Advantage loans are tied to a government guaranty, but there are still rules to follow and oversight from the Small Business Administration. However, since these are direct loans, there is a lot of room for us to make it our own.
Colorado Lending Source’s Community Advantage loan program is intended to provide community banks with a financing option for their existing customers that they otherwise wouldn’t be able to offer. This program is not intended for those businesses that are “bankable”, but rather for those in underserved markets that are on their way to becoming bankable and need a little help getting there. (Click here to see a list of underserved businesses.)
In 2017 we went from being the 23rd most active Community Advantage lender in the nation to the 15th and grew our portfolio under this program to $5 million!
We truly care about the economic impact we have on the state of Colorado and are incredibly proud to offer our Community Advantage loan program to you.