Small business lenders in Colorado invest in and support the growth of companies.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
From the mountains that provide the perfect skiing and hiking opportunities to the vibrant, modern communities that dot the state’s landscape, Colorado is a unique location. Known as The Centennial State, it’s home to most of the Southern Rocky Mountains and the Colorado Plateau. Denver, the state’s capital, is the largest city. With over 5.7 million people living here, it is quite the diverse state. Many come to the state for the recreation with its beautiful parks and amenities. Others have built their business on that tourism, as well as agriculture and much more.
For Coloradans, the state has a very diverse economy to help support its communities. Its largest economic sectors include forestry, agriculture, and tourism, though the state also has large government and defense sectors, mining areas, and industrial production. While these are some of the biggest industries, there are far smaller ones present here, often owned and operated by smaller organizations. The U.S. Small Business Administration states there are 691,230 small businesses in the state. Those businesses provide jobs for 1.2 million people here, with a total payroll of over $58,348,100. Those businesses are diverse and make up a large portion of many of the cities here.
To keep businesses growing, Colorado small business lenders offer a range of loan options for those companies. In fact, there are 4,038 small business loans in progress throughout the state, with a total loan volume of $3,218,595,602. The average loan size in Colorado is over $797,000, according to the most recent three years of data available from the U.S. Small Business Administration. There’s little doubt that this capital has helped many small businesses to grow, diversify, and expand to offer more products and services to the residents of Colorado.
Funding a small business is not easy to do, and it is nearly always necessary for business owners to turn to Colorado small business lenders for help from time to time. Small business loans are financial tools in which the borrower obtains capital to use for its needs in return for repaying the amount borrowed plus interest. The terms and conditions of these loans range widely based on the actual needs of the business and its qualifications, yet many will find these loans to be flexible.
To obtain a loan, small businesses typically need to apply formally and show the lender that they have the financial means to repay the loan. Most small business lenders in Colorado will focus on a number of key factors to determine this, such as the age of the company, the industry it is in, the amount of revenue it earns on a monthly basis, and the business’s or the business owner’s creditworthiness.
This information is then used to determine how much money the borrower can obtain from the lender as well as the interest rate they are likely to pay to borrow those funds. Whether entrepreneurs need help securing real estate, finding working capital, or just getting their company off the ground, small business loans can help close the gap.
The good news is that many small business loans are versatile in terms of the way they can be used. They can be used to help with expanding inventory, providing the necessary capital to meet payroll needs, launching new product lines, or adding new employees. The funds are also available in a variety of different formats, providing borrowers with the financing they need in a way that works for them. Some examples of these loan types include:
When a borrower decides to apply for a loan, the lender will need as much information as possible to make a decision. That may include all of the information mentioned along with a business plan that shows how the company operates. The more information that can be provided here, the better the lender’s ability to lend. Many times, these loans are available to small businesses that have been established for at least a year, though some startups may find some support otherwise. Every small business loan is an opportunity for a company to meet its obligations and grow, helping to support new opportunities, employers, and employees in the state.
For many business needs, whether it’s commercial real estate, working capital, getting the funds to pay staff, or expanding operations, a small business loan may be your best bet. Whether it’s from a business loan fund, the Colorado enterprise fund, support from the Colorado Small Business Development Center, real estate loans, the Colorado Office of Economic Development, nonprofit grants, or some other new business support, it’s worth the effort to review all your options well in advance.
Some business financing options are long-term from traditional lenders, while others might be microloans from a short-term Colorado lending source. Each type of loan from a financial institution or other agency will have its own loan application requirements much like grant programs are only available for specific uses, too. Since most business owners don’t have access to enough cash flow funds from credit cards or their personal savings, a loan may be needed.
| Rank | Bank Name | # of Colorado Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Wells Fargo Bank | 108 | 7.29% | $271,838 |
| 2 | U.S. Bank | 80 | 6.36% | $174,864 |
| 3 | Live Oak Banking Company | 75 | 5.19% | $1,564,893 |
| 4 | First Southwest Bank | 67 | 4.61% | $241,579 |
| 5 | KeyBank | 66 | 5.67% | $355,368 |
| 6 | Hanmi Bank | 64 | 5.08% | $964,859 |
| 7 | Independent Bank | 49 | 4.56% | $1,283,273 |
| 8 | Bank of the West | 45 | 4.80% | $725,740 |
| 9 | Sunflower Bank | 44 | 4.18% | $835,632 |
| 10 | The Huntington National Bank | 38 | 5.60% | $374,929 |
Wells Fargo Bank was started in 1852 by Henry Wells and William G. Fargo as a bank to help customers build business and manage money. Wells Fargo Bank offers many products through its many branches to meet customers’ needs, including mortgages, wealth management, and personal and small business banking.
We reached out to Wells Fargo Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
First coming into existence in 1863 as the First National Bank of Cincinnati, U.S. Bank now operates in 26 states across the country. U.S. Bank offers a number of products and services to meet customers’ needs, including small business loans and personal banking solutions, including checking and savings.
We reached out to U.S. Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Live Oak Bank is based in North Carolina but serves all 50 states as a cloud based digital bank. Offering a number of products and services to its customers, from personal to small business loans, as well as options for personal and business banking like checking and savings accounts.
We reached out to Live Oak Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
With 6 branches and over 100 years of experience, First Southwest Bank is able to reach the customers of San Luiz Valley and rural Colorado with all of its services. With small business loans, personal loans, and online banking, First Southwest Bank has something to help all of its clients.
We reached out to First Southwest Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
KeyBank is headquartered in Cleveland, Ohio, and offers a wide range of banking and investment products to meet the needs of its members. KeyBank provides services for businesses and individuals with products such as small business loans and personal and business checking and savings to meet all of its customers’ needs.
We reached out to KeyBank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Small business loans in Colorado are a financial tool for helping to support the capital needs of the company. Utilizing that capital in a meaningful way is critical. There are some resources available to help support small businesses in doing this. The U.S. Small Business Administration in Colorado is an excellent resource to start with, as it offers a wide range of informative articles and guides to help with business lending, financial management, budgeting, and business incorporation tools. It is an excellent, free resource for financial education for business owners.
Another resource to consider is SCORE. The organization also provides free financial literacy and supportive tools to small business owners. It has a main office in Denver but also offers a wide range of tools right online. Company owners and managers can watch webinars, participate in programs, use the various educational tools on the site, and gain real world, up to date information on building and maintaining their businesses. This is a powerful tool that can help companies to achieve their goals of not just borrowing capital but making the best of it.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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