The Importance of Character-Based Lending
08/23/2018
One of the least imponderable imponderables to me is the fact that ever since the Bureau of Labor Statistics (BLS) began collecting information on year-over-year small business survival rates, the life cycle of most new small businesses in Colorado and elsewhere in the United States is fairly...
FY 2019 SBA Fees Announced
08/20/2018
The Small Business Administration has announced new fees for the SBA 504 and SBA 7(a) loan programs during Fiscal Year 2019 that will be effective October 1, 2018. You can view the SBA Notices for 504 and 7(a) here. Below is a summary of the updated fee details. SBA 504 loans approved during FY...
2018 Golf Tournament!
08/16/2018
2018 Annual Golf Tournament & Luncheon Recap! On August 9, 2018, Colorado Lending Source celebrated our 16th Annual Golf Tournament and Luncheon! With nearly 120 golfers the competition was heated, especially at the Gnome Hole! We would like to thank everyone, particularly our members, for...
Entrepreneurs Solve Problems
07/27/2018
There seems to be a great deal of confusion about what it means to be an entrepreneur. Some argue that to be an entrepreneur you must launch a technology company anticipating rapid growth while taking on substantial personal financial risk. Similarly, some economic development organizations only...
2016: Identifying and Articulating Core Values
07/13/2018
In 2016, Colorado Lending Source’s leadership team embarked on a collective journey to answer how the staff worked together internally, as well as how they worked with small business owners and lenders. By diving deep into their sentiments behind the mission, the leadership team was able to...
2017: Reinvigorating the Colorado Main Street Loan Program
07/12/2018
Repeatedly Colorado Lending Source was named a top 10 Certified Development Company for Small Business Administration 504 and 7(a) lending, but that wasn’t enough for Executive Director, Mike O’Donnell. He felt there was more the organization could do to fulfill its mission and help small...
What's the Hold Up?
07/10/2018
Rules. Regulations. Documents. Financials. Often times these words can be intimidating to small business owners. However, the process of getting a Small Business Administration (SBA) loan doesn’t have to be scary! Understanding what you need up front allows for a swift approval process that will...
2018 Impact Updates!
06/29/2018
Small business is the backbone of the U.S. economy. And having the freedom to be your own boss is definitely something to be celebrated. So in light of Independence Day, we're celebrating the success of our small business borrowers!
We Care About Financial Literacy
06/11/2018
To Regulate or Not to Regulate Banks? That is the Question. Given that the U.S. economy is the strongest in the world, you might expect that the U.S. banking system would be very sophisticated and efficient, the result of some thoughtful grand design. But it isn’t. It is the result of a long...
No Risk, No Reward...
05/25/2018
Mark Zuckerberg once said, “The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is a guaranteed to fail is not taking risks.”