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Colorado Enterprise Fund Launches Veteran Loan Program - VALOR

Monday, November 06, 2017

CEF Launches Small Business Loan Program for Veterans – VALOR

The Loveland Business Development Center (LBDC) has received notification that the Colorado Enterprise Fund (CEF) is launching a new small business loan program for veterans. The loan program, created to support U.S. military veterans and Gold Star Families (surviving spouses and children of veterans) in Colorado, will officially launch on Veteran’s Day, November 11, 2017.

Veteran Access Loan Opportunity Resource (VALOR) will provide discounted loan rates and extended terms for military veterans who are unable to secure financing through traditional banks. The VALOR loan program offers loan amounts up to $500,000 for working capital, equipment, inventory, property improvements, business purchases and purchases of commercial real estate. The program offers a loan rate that is discounted 2% from standard CEF rates with loan terms of up to 10 years and interest-only periods of up to six months.

One in 10 businesses are veteran-owned businesses, and those businesses employ six million workers, generating $1.2 trillion in annual receipts, according to the Small Business Administration, or SBA.

Previously, the SBA offered two loan programs that were created specifically for veteran-owned businesses: the Patriot Express Loan (which expired in 2013) and the SBA Veterans Advantage Loan Program (which expired in October 2014). It is exciting to see that CEF is introducing this new program during National Veterans Small Business Week (Oct. 30 through Nov. 3). Although CEF has not previously offered a formal program for military veterans and their families, over the past two decades, CEF has provided 30 loans to veterans in Colorado totaling $1.2 million. These loans have created 200 jobs and allowed for the retention of nearly 100 jobs statewide.

Those interested in applying for the VALOR loan program can apply online via the CEF website and/or can contact Mike Jensen, CEF senior loan officer and U.S. Army veteran, at mike@coloradoenterprisefund.org. CEF is a community partner of the Loveland Business Development Center. LBDC clients can schedule an appointment with Lewis Hagler, CEF director of credit, at the LBDC office on Wednesday afternoons.

The Loveland Business Development Center offers free business counseling and low cost workshops to Loveland residents and businesses.

 

About Colorado Enterprise Fund
Founded in 1976, Colorado Enterprise Fund (CEF) provides loans up to $500,000 to finance small businesses and startups unable to obtain funding through traditional banks. With a mission to accelerate community prosperity by financing and supporting entrepreneurs and small businesses, CEF has provided over $64 million in loans to more than 2,000 businesses to help create or retain over 17,000 jobs in the state. A nonprofit Community Development Financial Institution (CDFI), CEF is based in Denver with a satellite office in Fort Collins. CEF’s lending and consulting services are available statewide. For more information, visit: www.coloradoenterprisefund.org

O'Connell Speaking at National SBDC Conference

Thursday, August 24, 2017

Mike O'Connell, Larimer Small Business Development Center (SBDC) Director, will be a presenter at the National SBDC conference in September, in Nashville Tennessee. Over 1400 small business development professionals attend this annual conference to sharpen their consulting skills, and learn about useful entrepreneurial resources. O'Connell will present “My Top Six Ways That Businesses Get Into Trouble”. This information was also featured in BizWest magazine’s May 2017 edition.

Happy National SBDC Day!

Wednesday, March 22, 2017


To celebrate the collective impact and success the SBDC has had across the state and in local communities each year, Colorado is participating in the first national SBDC Day on March 22. SBDC Day is a national movement to help share the small business success stories and notable impact SBDCs have fostered in communities nationwide.

The day will include a Governor's Proclamation proclaiming March 22, 2017 as Small Business Development Day. The Proclamation will be read by Stephanie Copeland, executive director of the Office of Economic Development and International Trade (OEDIT), on the steps of the Capitol.

Business has changed dramatically over the last 30 years, and the Colorado Small Business Development Center (SBDC) Network has been there throughout. Since 1987, Colorado's SBDC- the only statewide program of its kind -has helped aspiring and emerging small business owners achieve the American dream of entrepreneurship. Help share in the excitement by using #COSBDC #SBDCDay today!

2016 Larimer SBDC Annual Report

Tuesday, March 07, 2017
 

Mike O'Connell

Larimer SBDC Director      
2016 was a breakout year for the Larimer SBDC in terms of strategic partner relationships, consulting and economic impact metrics, and local awareness of our center. 

Early 2016 saw us coordinating and integrating with the restructured Loveland Business Development Center (LBDC).We are now working seamlessly together, with the SBDC acting as a key "content provider" to the LBDC. The LBDC team has worked very hard, and brought a lot of value to the Loveland small business community. During 2016, we added consulting availability in Berthoud and Wellington, so that entrepreneurs can access SBDC services at any municipality in Larimer County. 

In November, we worked with the East Colorado SBDC and the Colorado SBDC lead center to execute the inaugural Northern Colorado Women's Small Business Conference, held at the Embassy Suites in Loveland, which was a huge success with over 350 attendees. We also continue to manage the "Recovery Colorado" disaster recovery program, with the support of the Estes Park Economic Development Corporation. This grant program has provided over $2.3M to 59 Estes Valley small businesses. 

Almost all of our 2016 metrics are record high numbers for our center. We consulted with 640 clients over nearly 3,500 consulting hours, more than double our 2013 client count, and almost triple our 2013 consulting hours. We also conducted 100 trainings/workshops, attended by over 1,000 entrepreneurs. 

The plan for 2017 is to " .. do it the same, but better .. ". We will be strongly promoting three of our higher-end programs to support growing existing businesses. We will support the Fort Collins and Loveland Start Up weeks in February and April. We will again execute the Women's Small Business Conference in November 2017. Most importantly, 2017 marks the 30th year that Front Range Community College (FRCC) has hosted and significantly sponsored the North Metro Denver and Larimer SBDC centers, and we will be conducting a major campaign throughout 2017 to say a huge "Thank You" to FRCC for their support of Northern Colorado entrepreneurs. 

We have a great well-connected team that makes it all of the above happen. Terri Donovan-Keirns manages the hundreds of consulting sessions and numerous classes with exceptional competence and thoroughness. Our administrator and FRCC graduate Kat Rico has really enhanced the "face" of both the North Metro Denver and Larimer through her marketing and social media skills. Our consulting network is strong, committed, and engaged, and the best its ever been, in my opinion. I also have the privilege of being the Co-Chair of the Larimer County Workforce Development Board (WDB) this year, which supports the critical and extensive work done by the Larimer County Workforce Center. 

2016 was a rewarding year, and I look forward to working with all of you in 2017! 

Mike O'Connell
Larimer SBDC Director

Read the Full Larimer SBDC 2016 Annual Report

Business Protection Summit & Resource Day

Thursday, October 02, 2014
You are invited to join the Colorado SBDC for a full day summit focusing on disaster preparedness, designed to connect you with valuable resources and information! This is set to be a fantastic event, and whether or not you were affected by the recent floods and fires across our state, you will come away from the event with more knowledge about what to do when disaster strikes.

       Location
         Wildflower Pavilion at Planet Bluegrass
         500 W. Main St.
         Lyons, CO 80540

       Date/Time/Registration
         Friday, October 17, 2014
         8:00 am - 5:30 pm
         Registration is $25

Click here to register online now!

Don't miss this unique opportunity to connect with a wide variety of resources, as well as other local business owners!

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