However, there is better news on the funding front. Whether it’s venture capital or nonprofit microloans, Boulder has a community ready to invest in new ventures.
Here are just a few financing options for a Boulder business:
Colorado State Foundation: This nonprofit lender lends up to $500,000 to businesses that can’t get traditional bank loans, with a focus on women-owned and minority-owned businesses, low-income borrowers, and startups. It uses traditional metrics, including forecasts, personal equity and collateral to evaluate borrowers, but it’s more lenient than a bank, says Lewis Hagler, director of credit quality.
Colorado Lending Source: A non-profit resource that connects small businesses with lenders that offer loans guaranteed by the US Small Business Administration. It also provides loans up to $35,000 directly to businesses through the Colorado Main Street Microfinance Program.
Colorado Impact Fund: This venture capital fund invests in Colorado businesses that are making a difference in the community, including some natural food businesses. organic ginger and certified by the tea trade.