Small Business Loans In Colorado
Colorado has seen its star rise over the past few years. Its jaw-dropping mountains, lower cost of living (relative to California,) and general open-mindedness have attracted loads of entrepreneurs.
Just ask Amazon. Recently, they revealed that Colorado was, by their internal metrics, the fourth most entrepreneurial state in America. A short distance away from Denver, Boulder has six times more startups than the national average.
Everybody wants to run a business here. To do so, however, you need more than a great idea – you need capital.
In this guide, we’ll give you the scoop on the best business lenders in Colorado. These brokers deal only with small businesses like yours, and everyone we list is licensed. Not only that, but they also have quick turnaround times, play by the rules, and approve more borrowers than the banks.
If you’ve been searching for small business loans in Denver, Colorado, or small business loans in Colorado Springs, Colorado, your hunt is over.
Best 4 Online Lenders in Colorado
Additional Business Loan Options in Colorado
On top of our list presenting the best business loans for small businesses in Colorado, which is focused on online, quick, lending for the most part, there are also local business lenders and business loan brokers available in Colorado. Read our short reviews below:
Colorado Enterprise Fund (coloradoenterprisefund.org) is a business loan provider and a consultancy firm for small businesses founded in 1976. Loans at CEF range from $1000 to $1,000,000. The company has assisted 29,000 Colorado small businesses with $167 million in loan capital. CEF provides flexible loan programs, including SBA microloans with an average loan size of $37,000 with fixed rates for up to 10 years.
Aspen Commercial Lending (aspencommerciallending.com) is a commercial finance lender for medium and large-sized businesses. The company offers a wide range of programs, such as SBA financing, commercial estate loans, healthcare financing, heavy equipment financing, inventory financing, franchise financing, and more. Aspen claims expertise in asset-based debt financing. The company was founded in 2019 and is headquartered in Lone tree, Colorado.
Formerly known as Colorado Lending Source, B:Side Capital (bsidecapital.org) offers loan programs for small businesses and enterprises. The company offers 3 basic programs SBA 504 Loan, SBA 7(a) Loan Program, and a Direct lending program. B:Side Capital has approved 5000+ small business loans with $5 billion injected into the economy.
Founded in 2013, Spot On Financial (spotonfinancial.com) is a financial services brokerage. Led by Travis Taylor, Spot On is providing merchant cash advances, SBA business loans, and equipment loans to local business owners in Colorado. The company also offers its services to online businesses with its partnership with Shopify and PayPal working capital.
Core Business Capital (corebusinesscapital.com) is a business loan provider for small to large businesses. The company offers loans up to $500,000 with as low as 6.99% APR. Founded in 2016, the company provides working capital loans, equipment financing, business cash advance, SBA business loans, and invoice financing, among other options. The enterprise offers tailored plans for businesses, ensuring fast, affordable business funding.
Based in Denver, Colorado, CSI Financial (csi-financial.com) is an asset-based lending company functioning since 2010. The company provides flexible and responsive financing solutions with tailored asset-based lending programs. Loans at CSI range from $100,000 to $5 million. CSI serves mid-sized to large businesses such as wholesale, B2B companies in manufacturing, distribution, and business services generating commercial receivables.
Dynamic Funding (dynamicfundinginc.com) is an independent equipment leasing company founded in 1996. This Colorado-based finance brokerage offers equipment financing for technology assets, software, services, and more. DFI is a full-service lessor that serves the construction, manufacturing, and technology industries.
Based in Denver, Cash Fund (cashfund.com) provides small business loans, equipment leasing & financing, business cash advance. With a 93% approval rate, Cash Funding offers up to $500,000 in business funding. The client company needs to fulfill 3 requirements – credit score over 500, operating for more than a year, and monthly revenue of $15k or more to be eligible for receiving loans and funding.
Exit Plan Pro (exitplan.pro) is a debt-equity share and crowdfunding solutions provider. The company serves several industries such as Retail, Service Companies, Beauty, Medical, Fashion, Consulting, Repair shops, and Manufacturing. Exit Plan Pro serves its clients with bank loans, SBA-backed loans, private money, or a syndicated credit enhancement model to finance their needs.
Directed Equity (directedequity.com) is a business loan broker based in Denver, Colorado. Directed Equity offers a great number of financing programs to support the growth of a business, including SBA loans, conventional equipment financing, and self directed 401(k) financing.
Colorado Small Business At A Glance
Colorado has an economy that on the grow. In 2019, it produced $396 billion worth of economic activity, with put it 16th nationally. That’s a four-place improvement from ten years ago when it ranked 20th. If Colorado were an independent country, it would be the world’s 45th largest economy. That might not sound impressive, but they would outdo Israel and Ireland – two well-respected developed economies.
Colorado has one dominant city – Denver. Home to approximately three million people, this mile-high metropolis has established logistics, energy, and mining sectors. Outside the Denver metro area, this state’s mountainous landscape makes it fertile ground for many tourism businesses.
While major corporations have a considerable presence, Colorado depends on small businesses. According to the Small Business Administration, 99.5% of firms in the state are SMEs. These companies are responsible for employing 48.2% of Coloradans.
For this reason, the health of this economic sector is crucial to Colorado’s success. Thankfully, small business loans in Colorado flow freely. Almost every entrepreneur has a business loan broker Colorado on speed dial. Because of these relationships, many amazing businesses survive their early years, expansions, and bad times.
Why Do Entrepreneurs Need Small Business Loans In Colorado?
Colorado is a hot place right now. Not only is its quality of life second-to-none, but it also has a young, educated workforce. Economic growth is purring along at a rate of 3 to 4% annually.
Given all this, though, it’s easy to get complacent. All it takes is a sudden downturn to put unprepared businesses in a tight spot. When cash flow issues strike, you’ll be scrambling for small business funding Colorado.
When financial crises happen, entrepreneurs call up the best business lenders in Colorado. They offer a wide range of products, including small business loans in Colorado for bad credit.
The growth-minded also count on easy access to business financing Colorado. When, for instance, they want to build an outdoor patio for their restaurant, one call to their business broker Colorado does the trick.
Waiting isn’t something Colorado owners have time for. That’s why the top business lenders in Colorado get back to their customers in 24 hours or less. They’re able to leave the banks in the dust with risk assessment software that takes into account more factors. Because of this, they can take on “more risk” without breaking a sweat.
Need a loan in the Centennial State? Scroll to the top of this guide and select a business loan broker Colorado.
Grants & SBA Lenders Available To Colorado Small Businesses
Without small businesses, Colorado wouldn’t be the cool place to live it is today. To give this sector the support it needs, the Colorado government provides grants, tax credits, and other incentives.
Need some help getting your startup off the ground? Check out the grants we’ve assembled below:
- The Export Accelerator Program is a fund that supports Colorado SMEs in their efforts to establish export markets for their products. This initiative supplies up to $15,000 to help small business to pay for marketing and international business development activities. Applicants must be situated in aerospace, advanced manufacturing, biotech, or any other named industry types. The company must employ 200 people or less, and they must prove they are “export-ready.”
- The Advanced Industries Early Stage Capital and Retention Grant provide funding for the commercialization of a product still in its early phases of development. This grant provides up to $250,000 for product promotion purposes. Recipients must prove they have received less than $20 million in venture funding, have less than $10 million in annual revenue. They must also provide matching funds at a ratio of 2:1.
- The Rural Jump-Start Zone Program offers tax incentives for firms to move to one of sixteen counties in Colorado. Successful applicants will not be required to pay state income taxes (business and employee), state sales/use taxes, and county property taxes. To qualify, companies must be new to the area. A participating institute of higher education must also endorse them.
- The Job Growth Incentive Tax Credit (JGITC) is a program that offers tax credits to businesses that create substantial numbers of well-paying jobs. Successful applicants will receive a tax credit equal to 50% of their FICA Act contributions. To qualify, applicants must create 20 net new jobs that pay 100% of the home county’s average annual wage.
As good as grants and tax credits are, sometimes, you need funding quickly. SBA loans are readily available from dealers offline and online. This source of small business financing Colorado can be found everywhere, as the federal government backs it. Because of this, these products have low-interest rates and friendly payment terms.
As of now, here are the top SBA providers in Colorado:
- S. Bank
- Wells Fargo
- Bank of the West
- Community Banks of Colorado
- Colorado Lending Source
Colorado is a state on the rise. With annual growth rates advancing at a prodigious pace of 3%-4%, anyone with the will to succeed has a shot at making it big here. Whenever you need capital, small business loans Colorado will allow you to rise up to whatever challenge you face. Business lenders in Colorado have a verity of offerings tailored to your specific situation. If you’re ready to get a loan, head back to the top, and start browsing for a business loan broker Colorado.