If you are in need of some working capital, need to refinance debt, or purchase equipment and inventory. A CLIMBER loan may be for you. This unique loan offers many advantages to Colorado-based small businesses. 

benefits

• Loans between $20,000-100,000

• Fixed interest rate

• Low fee of only 2.0% of the loan amount

• No prepayment penalties

interest rate

• 3-year loan term: 6.01%

• 4-year loan term: 6.17%

• 5-year loan term: 6.32%

Eligibility

Businesses must meet one of the following criteria:

• A for-profit corporation, partnership, or association incorporated in Colorado

• Filed with the Colorado Secretary of State as a foreign entity authorized in Colorado

• A nonprofit entity incorporated in Colorado

• A sole proprietorship owned by a Colorado resident with primary operations in Colorado

Businesses must meet all of the following criteria:

• Has up to 99 employees

• Business had a 1-year positive cash flow in the past 5 fiscal years

• Business has a debt service coverage ratio of at least 1:1

Proceeds are required to be used for working capital, which includes:

• Inventory, marketing, payroll, operating and emergency maintenance;

• Current property taxes, utilities, rent, supplies;

• New or used equipment (tools, machinery, etc.);

• Regularly scheduled interest and principal payments on mortgages, loans, and other existing business debt;

• Existing debt that is due within 90 days;

• Credit cards that were used to pay monthly operating expenses and that the business historically was able to pay off each month (must be less than 1/12 of annual operating costs).

Want to receive more content like this?

Sign up for our small business updates.