Are you a small business? Loans should be available by February 2021. Information will be shared here when you can apply.
What is the CLIMBER Loan Fund Program?
Federal resources have provided a much-needed lifeline for many Colorado businesses, but the State predicts that additional support will be necessary for small businesses. Particularly small business that have fewer lending opportunities to weather the long-term effects of the COVID-19 pandemic.
During the next two years the CLIMBER Loan Fund program will seek to distribute $250,000 million in working capital loans to businesses of 5 to 99 employees that were doing well before the coronavirus pandemic hit.
The CLIMBER program will begin to launch their first tranche near the end of January 2021 and will continue to offer additional lending options throughout the month of February 2021.
The Colorado General Assembly, the Governor, the Treasurer, OEDIT, and CHFA, as well as the CLIMBER Oversight Board, have been working to establish and stand up the CLIMBER loan fund to support Colorado small businesses, save jobs, and help support the Colorado economy.
If you are a small business or lender please go to http://www.climber-
TO READ MORE ABOUT CLIMBER SEE PROGRESS REPORT HERE
Oversight Board
Overall program oversight will come from a 5-member Small Business Recovery 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
Akasha Absher
Peter Calamari
Monique Lovato, Minority Business Office designee
Doug Price
CLIMBER Board Meeting Agendas
Working Group Agendas
CLIMBER Board Meeting Minutes
October 8, 2020
Working Group Meeting Minutes
January 21, 2021
January 14, 2021
December 31, 2020
December 10, 2020
CLIMBER Fund Product Design Presentation
November 19, 2020 Board Meeting
Revised proposed rules for refinancings
Short summary of need for investment in businesses owned by women, minorities and veterans
November 5, 2020 Board Meeting
Proposed CLIMBER refinancing rules
Revised CLIMBER low- and moderate-income focus options
October 22, 2020 Board Meeting
Revised proposal for definition of a CLIMBER qualified business
Revised CLIMBER products and terms
Revised CLIMBER low- and moderate-income focus options
October 15, 2020 Board Meeting
Revised proposal for definition of a ‘business’ and how to count employees
Letter from the Colorado Association of Nonprofits (related to definition of a business)
Revised CLIMBER products and terms
CLIMBER low- and moderate-income focus options
October 8, 2020 Board Meeting
Community Reinvestment Act (CRA) fact sheet pdf
CLIMBER workflow Gantt chart excel workbook
CLIMBER women/minority/veteran/rural targets excel workbook
Revised proposal for definition of a ‘business’ and how to count employees doc
Options for CLIMBER products pdf
October 1, 2020 Board Meeting
Minority and Women Entrepreneurs Report
September 24, 2020 Board Meeting
September 17, 2020 Board Meeting
Geographic allocation options excel workbook
Black-Owned Businesses Hit Especially Hard by Coronaviris Pandemic - Study Finds - WSJ
COVID-19's Effect of Minority-Owned Small businesses in the United States - McKinsely & Company
Getting Help For Minority-Owned Businesses Shut Out Of PPP Loan Relief - Forbes
Small, Minority-Owned Businesses Face Steeper Struggles During Pandemic - CBS 4 Denver
Draft CLIMBER financial model excel workbook
September 10, 2020 Board Meeting
Geographic allocation options excel workbook
Options for CLIMBER products pdf
Draft CLIMBER financial model excel workbook
August 27, 2020 Board Meeting
Geographic allocation options excel workbook
Options for CLIMBER products ppt
August 13, 2020 Board Meeting
Working Group Proposed Outlines and Workstream
August 6, 2020 Board Meeting
Minority Business Office Presentation
Thursday, July 30th Board Meeting
Proposed Conflict of Interest Policy