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Are you looking for Colorado’s best business loans & startup financing companies? For your small business in the Centennial State, many banks, credit unions, and unconventional lenders are offering different loan types. After all, 691,000 small businesses operate in Colorado.

Understand the unique features and benefits of different loan types to empower your business. That’s how you can choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 14 business loans & startup financing options in Colorado to get started:

1.  Swoop Funding

Swoop Funding is every Colorado-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process.

2.  Colorado Small Business Development Center Network

This Boulder-based SBDC will give you funds ranging from $1k to $1 million based on your business niche/type. If banks or other traditional lenders have disappointed you with their strict & over-the-top requirements, then you can trust these guys to finance your business initiatives.

3.  VIP Capital Funding

This lender treats all Colorado-based entrepreneurs as very important persons. You can get up to $15 million in funding from this financier. You will get your funding in 1 to 3 business days. If you want to keep your business vessel afloat, you can trust VIP Capital Funding.

4.  Hanmi Bank

Located in Aurora, CO, you can get different loan types, with the average payout amount being $964k. However, business term loans will help you get up to $75 million in funding, with the term length being no more than 7 years. The interest rate can be fixed or variable.

5.  PB&T Bank

This lender helps Colorado-based businesses by providing them with diverse funding options with flexible terms. You can get inventory loans, equipment financing money, and funds for your construction project. That’s why PB&T Bank is an ideal lender for entrepreneurs based in the Centennial State.

6.  Independent Bank

With the interest rate being 4.56%, $1.28 million is the average payout amount. This lender will give you access to various loan types, such as the following:

• Term loans
• Lines of credit
• Letter of credit
• Equipment of vehicle loans
• Commercial real estate

7.  Bank of the West

With the interest rate being 4.80%, $725k is the average payout received from this lender. We have already covered this bank for another state. In simple words, you’ll get between $50,000 & $5 million as a loan from this lender. The term length can be as flexible as 25 years!

8. Timberline Bank

You can also apply for SBA loans through this lender that caters to small businesses in the state of Colorado. The Timberline Bank runs a Paycheck Protection Program (PPP) through SBA. So, you can participate in it and get ample funding for your startup in the Centennial State.

9. Ent Credit Union

This credit union offers low fees and competitive rates to help your local business thrive. They also have no prepayment penalties so your business in Colorado can be successful without any financial threat. They offer various loan types, such as revolving lines of credit, commercial area of land purchasing loans, 504 loans, equipment financing loans, and other stuff.

10. Arvada Chamber of Commerce

This lender is pretty amazing in this regard that they have a special loan program for Colorado businesses that were profitable before the pandemic hit. The CLIMBER Loan Fund Program aims to distribute $250 million in working capital loans over the next 2 years to small businesses that were thriving before the pandemic struck. Your business must have 99 workers at max and over 50% of them must be Colorado residents (among other conditions).

11. Independent Community Bankers of Colorado

This community of Coloradan bankers has helped 4,100+ businesses throughout not just the state of Colorado but also Arizona, Utah, and New Mexico get ample funding for their business ventures. They claimed to have injected almost $5 billion into the economy by creating 30,000 jobs.

12. Pikes Peak National Bank

This bank is another popular lender in Colorado. If you visit their business loan webpage, they’ll ask you a series of questions including questions like:

• Are you a new or existing business?
• Are you a veteran or a veteran’s family member?
• What’s your employment status?
• Do you have a business plan or not?
• Do you need assistance with the down payment?

After answering all these questions, you may hopefully contact their team and get funds for your business idea in Colorado. That’s why we’ve ranked this option as #12.

13. Energize Colorado

Energize Colorado is a fun little lender with term lengths being 3 to 5 years. The loan amount here ranged from $5k to $150k. Also, the interest rate oscillates between 6% to 8.5% (a major reason why this lender is on #13). They also have examples of how the loan amount will affect your term length and collateral percentage. So, they provide sufficient knowledge to borrowers, making sure that clients know what they’re getting into!

Also, you can utilize these funds to finance payroll, inventory, debt consolidation, inventory, rent, and other business expenditures.

14. Zing Credit Union

Besides the grants offered to local businesses, Zing Credit Union also offers various loan types to local businesses. Taking out the right loan helps your business flourish and reach new heights of success. They have great reviews online but aren’t transparent about the average loan amount approved by their credit union.

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in Colorado. Just make sure that you read the terms & conditions before signing up!

Choose a reliable lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If nothing makes sense, get in touch with us at Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly.