For questions about the Colorado Cashback TABOR refunds, call the hotline at 303-951-4996.


CLIMBER Loan Fund Program

The CLIMBER Loan Fund is available now.

Small business? Visit to find a participating lender and learn more about the program.

Financial Institution? Visit to sign up to be a lender.

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 businesses 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 1 to 99 employees that were doing well before the coronavirus pandemic hit.

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 for the application processes and lender information. 


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

Malcolm Evans

Dianne Myles

Bonifacio Sandoval

Tristan Watkins - Minority Business Office 


Click Here to be Notified of Board Meetings

January 25, 2024

DLC Loan Request 



November 14, 2023

B Side Fund Deployment Outcast

Report Draft

DLC Loan Memo

August 31, 2023

2nd Tranche - CLIMBER Benchmarks

DLC Loan Memo

DLC Loan Memo

Conflict of Interest

June 29, 2023

Credit Enhancement Memo

Policy Participation Loans to be Paid

Executed DLC Memo

Proposed Allocation

May 11, 2023

OB Loan

Impact Report

February 23, 2023


2023 Production Summary

January 26, 2023


November 17, 2022

DLC Loan


October 27, 2022

Debt Service Ratio

APEX Update



SBRI Presentation

September 8, 2022

Policy Decision

Policy Decision

August 4, 2022

July 21, 2022

May 5, 2022

March 28, 2022

Executed Loan Memo

Policy - CHFA

Policy - Marvin

February 24, 2022

Board Materials

May 27, 2021

Proposed Allocation of First Loss Tranche One



Staff Recommendation First Southwest

Proposed Fee Amendment

Semi-Annual Report

May 20, 2021

Budget Information

Net to State

Proposed Allocation of First Loss

CLIMBER Presentation Media


March 11, 2021

Allocation of State Funding for the CLIMBER Credit Enhancement Tool for Program Launch

CLIMBER Products

February 25, 2021

Amended Definition of Underserved Businesses Policy

County Allocation

Climber Work Plan

Underserved Policy Summary

Definition of Underserved Businesses

February 11, 2021

Amended Geographic Allocation

Amended Participation Benchmarks

CLIMBER Policies Regarding Businesses Owned by Women and Minorities

County Allocation

Definition of Underserved Businesses

Fund Participation Benchmark

February 4, 2021

PSA Approval

CLIMBER Act Definition of a Qualified Business

Work Plan

CLIMBER Allocation Options

January 21, 2021

Allocation of State Funding

Climber Policies

Work Plan

January 14, 2021

Work Plan

Federal Stimulus

December 31, 2020 

Climber Work Plan

December 10, 2020

CLIMBER Fund Product Design Presentation


CLIMBER Term Sheet


November 19, 2020 Board Meeting

CLIMBER workflow gantt chart

Revised proposed rules for refinancings

Short summary of need for investment in businesses owned by women, minorities and veterans


November 5, 2020 Board Meeting

 CLIMBER workflow Gantt chart

Proposed CLIMBER refinancing rules

Revised CLIMBER low- and moderate-income focus options


October 22, 2020 Board Meeting

CLIMBER workflow Gantt chart

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 

CLIMBER workflow Gantt chart

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

​Climber Work Plan

Small Business Credit Survey

Minority and Women Entrepreneurs Report

Climber Products



September 24, 2020 Board Meeting 

Geographic allocation options excel workbook (note: this workbook has data both for the discussion about term of time for allocations as well as for the women, minority, and veteran owned business target discussion

Options for CLIMBER products


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

Double Jeopardy: COVID-10's Health and Wealth Effects in Black Communities - Federal Reserve Bank of New York

Getting Help For Minority-Owned Businesses Shut Out Of PPP Loan Relief - Forbes

The Impact of COVID-19 on Small Business Owners: Evidence of Early-Stage Losses From April 2020 Current Population Survey - National Bureau of Economic Research

Flash Report Small Business Adminstration's Implentation of the Paycheck Protection Program Requirements

Small, Minority-Owned Businesses Face Steeper Struggles During Pandemic - CBS 4 Denver

Up to 90% of Minority and Women Owners Shut Out of Paycheck Protection Programs, Experts Fear - CBS News

A Cautionary Tale: Discriminatory Lending against Hispanic Farmers and Ranchers in Southern Colorado - Rural Sociology

Options for CLIMBER products

CLIMBER products model

Draft CLIMBER financial model excel workbook


September 10, 2020 Board Meeting 

SBDC feedback summary pdf

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

Draft CLIMBER financial model


August 13, 2020 Board Meeting 

Working Group Proposed Outlines and Workstream

Climber Gap Comparison

Job Description


August 6, 2020 Board Meeting 


Climber Board Duties

County Totals

Minority Business Office Presentation

COVID-19 Minority Impact

Draft Climber Bylaws

Draft Job Description


Thursday, July 30th Board Meeting

Adopted Conflict of Interest Policy

​Proposed Conflict of Interest Policy

Communications and Meeting Policy

July 23rd Meeting Minutes

CHFA Recommendation

CHFA Presentation