Capitol Hill Mansion is an excellent example of an SBA 504 success story. The business has welcomed guests as a bed and breakfast since 1994. Owner Carl Schmidt purchased the historic property in 2001 and completed extensive renovations, preserving its character while preparing it for long-term success as a hospitality business.
Over the years, Carl has built a resilient operation in the heart of Denver. Through economic downturns, a global pandemic, and the ongoing evolution of downtown Denver, Capitol Hill Mansion has continued to thrive. Today, Carl runs the business with support from his daughter, a housekeeper, and several part-time staff who help during busy weekends, weddings, and special events.
The mansion is an eight-bedroom, 8,742-square-foot property originally built in 1891. Constructed from distinctive ruby sandstone, the building is recognized as a Denver Historic Landmark and is listed on the Colorado State Register of Historic Properties and the National Register of Historic Places. Located in Denver’s historic Capitol Hill neighborhood between downtown and the Colorado State Capitol, the property has become a destination for visitors looking for a unique and historic stay.
Capitol Hill Mansion is currently ranked the #2 bed and breakfast in Denver on TripAdvisor, a reflection of Carl’s long-standing commitment to hospitality and quality guest experiences.
In partnership with B:Side Capital and Adams Bank & Trust, the SBA 504 loan program allowed Carl to refinance and cash-out existing debt, which provided $262,000 in working capital and reduced monthly loan payments by $565, giving the business additional flexibility to maintain the historic property and continue serving guests. The refinance helped strengthen the business’s financial position while supporting its continued growth.
For long-standing small businesses like Capitol Hill Mansion, access to responsible capital can make all the difference. Through programs like the SBA 504 loan, B:Side Capital helps entrepreneurs refinance debt, stabilize operations, and keep local businesses thriving in their communities.