Before You Seek Funding

Before you approach a lending institution, it’s important to know the 5 Cs that lenders consider.

Steps to Securing Funding

Once you’ve done the preparation, have the following elements in place to seek financing.

Advice and Resources

These organizations and resources are available to help you succeed.

SmallBizLending.org is a collaborative project of public, private and nonprofit lending institutions. SmallBizLending.org was created to provide entrepreneurs and small business owners in Colorado with the information and resources to successfully apply for a business loan, access a line of credit, pursue micro-lending solutions or find other financing options.

Whether you run a sole proprietorship, manage a company with under 500 people, or are somewhere in between, there are lenders in Colorado eager to finance the successful growth of your enterprise. SmallBizLending.org will help you find the way.

Emergency funding for small businesses affected by COVID-19

PPP program extended through May 31

SBA allowed another 30 days past that to ensure pending loans are processed

The Paycheck Protection Program has been extended through the end of May, to be followed by an additional 30-day period to allow for processing of still-pending applications.

Learn more about applying for a first PPP loan and a second PPP loan.

In addition to existing traditional Small SBA funding programs, the CARES Act and subsequent legislation established several new temporary programs to address the COVID-19 outbreak.

Click here to view the options

How and when to apply for loan forgiveness

A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.

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