A Grand Junction-based bank has joined in a new effort to help small businesses obtain financing and in turn create jobs and bolster the economy.
First National Bank of the Rockies participates in the Colorado Bankers Association (CBA) Small Business Lending Initiative.
Peter Waller, president of FNBR, said the CBA and its member banks have joined in a new collaborative effort to provide information and resources small businesses need to prepare the proper materials to apply for a a business loan, access a line of credit or pursue other financing options.
“Colorado banks have the ability and willingness to lend to small business,” Waller said. “In the last five years, FNBR provided nearly $300 million in new financing to small businesses throughout Western Colorado. We want to continue to support business owners by connecting them with the information they need to successfully obtain financing.”
The cornerstone of the CBA program is a Web site at www.smallbizlending.org that helps small business owners in Colorado prepare to seek financing and approach a bank or other lending institution.
According to Waller, this effort will connect potential borrowers to a network of banks, community development financial institutions, micro lenders and small business education professionals.
The CBA has collaborated with more than a dozen organizations to offer financing resources, including the Colorado Office of Economic Development and International Trade, Federal Reserve, Small Business Development Centers and U.S. Small Business Administration. The Web site includes links to those organizations.
The Web site also offers answers to frequently asked questions and a calendar of events.
“Banks are ready to lend, and the Colorado banking industry is investing in this initiative to help provide current or potential small business owners the information they need to succeed,” Waller said.