Do You Qualify?

Step 1: Establish if you meet program qualifications.

• Your business is:
  • A for-profit corporation, partnership, or association incorporated in Colorado,
  • Filed with the Colorado Secretary of State as a foreign entity authorized in Colorado,
  • A nonprofit entity incorporated in Colorado, or
  • A sole proprietorship owned by a Colorado resident with primary operations in Colorado
    
• You have more than 51% of your employees based in Colorado.
  
• You have up to 99 employees (Part-time employees can be aggregated as FTEs to stay within 99-employee maximum)
  
• Your business had a 1-year positive income in the previous 5 years.
  
• Your business generated enough income to cover its debts.

Step 2: Determine if you need help with paperwork or financials.

Are you ready? This checklist will show you recommended materials to have ready before applying with a lender.

Step 3: Meet with a Participating Lender to apply.

Lenders are ready to assist you if you have your documents and financials in order.

A ski shop had a line of credit of $100,000. Its loan agreement requires at least 60 days being paid off over the course of a year. Because the shop lost the end of the season and might have a slow start the next season, they might need a $50,000 term loan to cover cash flow losses and ensure they have their normal line of credit available for the new season.

A previously profitable tourist-related business has suffered financial losses and is preparing to restart its business. working capital is required to purchase new inventory to prepare for the reopening. A lender using CLIMBER could provide a loan to the business and receive a 15% cash reserve to strengthen the loan.