CLIMBER Loan Fund Program

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-colorado.com/ (under construction) for the application processes and lender information. 

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

Click Here to be Notified of Board Meetings

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 Work Plan

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

Definitions

 

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

​Proposed Conflict of Interest Policy

Communications and Meeting Policy

July 23rd Meeting Minutes

CHFA Recommendation

CHFA Presentation