Finding A Business Loan In Colorado
The state of Colorado offers business funds in the form of venture capital funding, employment creation, and to businesses in targeted communities. Apart from loans to invest in equipment and real estate, the State also makes available funds for development of community infrastructure and other community related projects. This article provides a list of loans and grants available for businesses in Colorado.
Business Loans in Colorado:
The federal as well as the state government run many business loan programs in Colorado. Some of the relevant programs are listed below.
1) Certified Capital Companies (CAPCOs)
Six capital companies certified by the state government provide funds to businesses in Colorado. These companies function independently, with minimal government supervision. They provide funds in the range of $100,000 to $3 million.
2) Venture Capital Authority
The VCA grants loans to entrepreneurs in the state of Colorado. Like the CAPCOs, the VCAs, though set up by the state administration, functions independently.
3) Economic Development Commission
These funds are provided to businesses that have agreed to meet some minimum employment creation requirement. The grant value depends on the performance of the company.
4) Colorado FIRST
This program provides funds to small businesses to help them with employee training programs. The funds are made available in collaboration with the Colorado Community College System. The cap on the Colorado FIRST loan is 60% of the cost of the training program.
5) Enterprise Zone
These funds are provided to businesses that move to economically weaker areas of the state.
6) Community Business Loans
Colorado has 15 loan programs for businesses that operate within a specified area. Local community members operate the loan funds, though some decisions may need state approval.
7) Feasibility Study
Colorado also provides feasibility study grants to businesses that intend to relocate or expand to a rural area, or want to start a new business in a rural area. The business that takes the grant must create a certain number of jobs in a specified timeframe.
Apart from the above-mentioned, there are many other sources of business loans in Colorado. The Small Business Administration and the United States Rural Development are federal lending that work in collaboration with the state government.
The state government operates the Colorado Department of Local Affairs, Colorado Agricultural Development Authority and the Regional Business Loan Funds. If you need to know more about business grants in Colorado, you can consult a business consultant who will provide all details regarding the kind of grant or loan your business may be eligible.
Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.
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