2012: The First Colorado Main Street SBA Loan
11/25/2015
In conjunction with the Small Business Jobs Act, the Small Business Administration introduced an Intermediary Lending Program (ILP) to help meet the needs of small businesses suffering from a lack of credit due to poor economic conditions and changes in the financial market. Through a competitive...
2011: The First Colorado Main Street USDA Loan
11/25/2015
In 2011, Colorado Lending Source was awarded a $300,000 loan from the U.S. Department of Agriculture as part of the new Intermediary Relending Program (IRP). With an additional contribution of $150,000 from Colorado Lending Source’s own funds, the Colorado Main Street Loans Program made its debut...
2008: The Financial Crisis
10/20/2015
In 2008, the nation was brought to its knees as the Financial Crisis, and then the Great Recession, changed the financial industry forever. Colorado Lending Source had just finished its most successful year historically, and had major plans to secure the position of top Certified Development...
2009: The First 7(a) Loan
10/20/2015
As the Great Recession deepened into 2009, Colorado Lending Source’s loan volume continued to decrease. With the uncertainty of the economy’s recovery, Executive Director, Mike O’Donnell decided to shift the organization’s focus to education, community involvement, and once again, a new way to...
2010: The Small Business Jobs Act
10/20/2015
In September of 2010, President Obama signed into law the Small Business Jobs Act. As the most significant piece of small business legislation in over a decade, the new law provided critical resources to help small business drive economic recovery and create jobs. As a result, Colorado Lending...
2007: Expanding Out-of-State
09/24/2015
As 2007 commenced, Colorado Lending Source had positioned itself for strong future growth and a wildly successful year. The organization was now able to provide financing to small businesses across the state through three different loan programs. This led to the opening of a second location in...
2006: CLS Holdings, Inc.
09/24/2015
Since the formation of Colorado Lending Source the organization had experienced consistent growth in both its loan portfolio and employees. In 2004, the organization purchased a condominium on the 18th floor of the Denver Club Building and moved in shortly after. Although the space sufficed, the...
2005: The First Western Slope Loan
08/20/2015
By 2005 Colorado Lending Source had officially become Colorado’s top certified development company, thanks to the organization’s newly expanded territory. For many years, Western Slope small businesses and lenders requested Colorado Lending Source’s assistance, and for the first time, the...
2004: Servicing the State
08/20/2015
Since inception, Colorado Lending Source’s goal has been to help small businesses across Colorado’s four corners become prosperous. In late 2003 the Small Business Administration changed its regulations, allowing statewide competition between all development companies. And, in 2004, after fourteen...
2003: The CRF Loan Program
08/20/2015
At the beginning of 2003, Colorado Lending Source had 274 loans and over $97 million in its portfolio. The organization had made a name for itself from the Small Business Administration 504 loan program, yet new Executive Director, Mike O’Donnell, knew if Colorado Lending Source was to become the...