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...
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...
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...
2000: The 10th Anniversary
07/30/2015
2000 marked Colorado Lending Source’s 10th Anniversary. The one-time grassroots organization had grown into Colorado’s most active certified development company (for the seventh year in a row) and at year-end, earned the ranking of the 27th most active certified development company in the nation...
2002: The Mission
07/30/2015
Heading into the twenty first century, Colorado Lending Source was poised to become one of the top certified development companies in the country. With the reorganized Board of Directors, committees, and membership, the focus now turned to defining the objectives of the organization. After seven...
2001: The Reorganization of an Organization
07/30/2015
In 2001, the Small Business Administration updated the Standard Operating Procedures (SOP) and Bylaws, forcing Colorado Lending Source to reorganize its membership and Board of Directors. After 10 years in operation, Colorado Lending Source’s membership had grown to 67 individuals, with 37 Board...
1999: The First PCLP Loan
06/19/2015
The Small Business Administration approved Colorado Lending Source as a “Premier Lender” under its Premier Certified Lender Program (PCLP) in 1999. With this title, Colorado Lending Source was able to expedite the SBA 504 loan approval process, as well as handle the foreclosure and liquidation...
1998: Expanding to Underserved Markets
06/18/2015
In 1998, Colorado Lending Source Executive Director, Ron Reuss, was elected to the Board of Directors for the National Association of Development Companies (NADCO). He joined the Expansion of Marketplace committee, whose primary objective was to improve the SBA 504 loan program and make it more...
1997: Becoming a Non Profit and the First Resource Partners
06/18/2015
1997 was the first year Colorado Lending Source operated as a 501(c)(6) non-profit, after being approved by the IRS at the end of the previous year. To uphold this designation, Colorado Lending Source was required to invest in various organizations and communities throughout the state. Executive...
1996: The First Success Story
05/21/2015
In 1996 Colorado Lending Source was making a name for itself across the Front Range. Loan activity was up 133% from the previous year, and for the second time in a row, the organization was named the most active certified development company in the state of Colorado. Additionally, Colorado Lending...