- Revolving Loan Fund (RLF)
Must be in Denver's RLF zone; this gap financing program works by lending up to 25% of project costs, thereby inducing banks to provide the bulk of the financing for small businesses. $25k-$350k, below market rates (contact Denver OED Strategic Investment staff for rate information 720.913.1999).
- Neighborhood Business Revitalization (NBR)
Must be in one of seven Denver targeted commercial districts; provides gap financing up to 50% of project costs to an unlimited amount (over $500k requires City Council approval).
Find out if your business is located in the Denver-specific RFL or NBR zones, by entering the address at Denver Office of Economic Development's Business Summary GIS.
OTHER LENDING SOURCES:
Seedco Financial
Small businesses, nonprofits and developers; loans up to and exceeding $1.5 million
Small business, nonprofits, individuals, and housing developers; $100k-$20m
Small business, startups, and childcare businesses; micro-loans of $1k-$250k
SBA 504 Mortgage Loan and SBA 7(a) Loan programs
Below market rate, long-term financing on commercial and industrial fixed assets. Can also be used to help small businesses adopt green practices / fund green improvements (click here for SBA's "Going Green" brochure.)
SBA America’s Recovery Capital (ARC) loans: 100-Percent Guarantee ARC Loan Program to Help Struggling Businesses
Rocky Mountain MicroFinance Institute
Business development services and flexible microloans in an effort to support an entrepreneur in creating economic self-sufficiency through business ownership
Colorado Alliance for Microenterprise Initiatives
Financing under $50k; call 303-592-4064
Manufacturing Revenue Bonds
Provides favorable tax-exempt Private Activity Bond financing targeted to small manufacturers in Colorado. The program provides for the financing of real estate, machinery, and equipment associated with expansion projects specific to manufacturers. Borrowers must meet all eligibility thresholds and federal tax code requirements, and often must compete for available volume, which is capped statewide under federal rules.
Peer-to-Peer Lending
Various networks exist to help borrowers find lenders, such as those mentioned in this NPR article.
Accion International
The mission of ACCION International is to give people the tools they need to work their way out of poverty. By providing microloans, business training and other financial services to poor men and women who start their own businesses, ACCION's partner lending organizations help people work their own way up the economic ladder, with dignity and pride.
Guaranty Bank & Trust
SBA Preferred Lender; loans for working capital, equipment, debt consolidation and real estate loans of $100k-$1m, term of 7-25 years; contact Jim Ocken or Suzanne Bastin at 303.296.9600
Baxter Fain-Debt & Equity Finance
Baxter Fain-Debt & Equity Finance
Loans for individuals or companies that own or wish to purchase commercial and residential real estate. Acquisition financing, refinancing existing debt, owner-occupied financing, and multi-family financing; amounts of $3m and up, term of 3-20 years.
Wells Fargo
SBA Preferred Lender. Refer to website for more information.
Other sources of access to capital include stimulus funding, grants, and venture capital.
Wells Fargo
SBA Preferred Lender. Refer to website for more information.
Other sources of access to capital include stimulus funding, grants, and venture capital.
No comments:
Post a Comment