CLIMBER Loans

About this funding opportunity

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1 CLIMBER Loans Program Summary

The CLIMBER (Colorado Loans to Increase Mainstreet Business Economic Resiliency) Loan Fund provides up to $250 million in working capital loans to Colorado small businesses negatively impacted by the pandemic and ongoing economic struggles. It is promoting small businesses resiliency, creating and saving jobs, and helps to support the Colorado economy.

Lenders, community development financial institutions (CDFIs), credit unions, and nonprofit lenders can participate and provide loans for their small business customers needing financial assistance.

Small businesses with 1 to 99 employees that were financially stable before the pandemic but now need help to survive may apply for working capital loans between $10,000 and $500,000. Below-market interest rates and a one-year deferred payment option make the program a secure recovery option for small businesses.

CLIMBER website(opens in new window) Oversight Board

Overall program oversight is from a 5-member Small Business Resiliency Oversight Board, chaired by the State Treasurer. In addition to the Treasurer, the members of the Board include the designee of the Director of the Colorado Minority Business Office, and three appointed members with executive-level experience in banking or capital markets. The Board is charged by statute for developing criteria for loan eligibility, setting loan product parameters, ensuring equitable access to capital across all 64 Colorado counties, collecting loan data, and establishing other requirements.

Board Members: Treasurer Dave Young, Chair Malcolm Evans Dianne Myles Bonifacio Sandoval Azarel Madrigal Overview

Type: Loans

For: Small businesses

Amount: $10,000 to $500,000

OEDIT division: Business Funding and Incentives

Image description: Business testimonial highlighting Dr. Kenya Lee, Co-Founder and Lead Doctor of PureLee Redefined accessed the CLIMBER Loans resource. Headline of the testimonial says "Capital to…

Topic areas: Energy and Environment, Circular Economy and Sustainability, Advanced Manufacturing and Industry, Social Innovation and Community Development, Workforce Development.

Funding amount

This other provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

CLIMBER Loans is administered by Colorado Office of Economic Development and International Trade (OEDIT), listed via Colorado Office of Economic Development and International Trade.