A new loan fund will provide up to $250 million in working capital through 2023 to small businesses in Colorado.

The Colorado Department of the Treasury, Colorado Housing and Finance Authority and Office of Economic Development and International Trade launched the Colorado Loans for Increasing Mainstreet Business and Economic Recovery (CLIMBER) fund.

“At this critical moment in our economic recovery efforts, the CLIMBER fund will provide tools to the small businesses at the heart of our communities,” said Colorado State Treasurer Dave Young. “A CLIMBER loan could be the crucial lifeline for a business who thought they may not make it through the pandemic. I’m thrilled to announce that these loans are accessible and available now.” 

With loans of up to $500,000, the fund is designed to catalyze borrowing that might not otherwise be available. Below-market interest rates and favorable terms provide a secure recovery option. Special consideration is given to small businesses in rural, distressed and underserved areas, including communities with low to moderate incomes.

Small business owners interested in applying for loans must work with a participating lender, a list of which appears on the website at https://climber-colorado.com. Financial institutions interested in offering CLIMBER loans can find more information on the website as well. 

“The CLIMBER loan fund is an important resource for businesses statewide affected by the pandemic, providing assistance to help them thrive and support jobs. CHFA is proud to collaborate with CLIMBER’s leading agencies and participating lenders to offer this opportunity to the business community,” said Cris White, director and chief executive officer of the Colorado Housing and Finance Authority.