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Colorado Lending Source boasts $346 million economic impact

Colorado Lending Source injected $346 million into the state's economy last year through approving a total of 270 business loans that helped created 1,845 jobs.

The not-for-profit business lender, which shared its economic impact report at its annual meeting, approved the loans in 15 different industry categories spanning 130 unique types of businesses in 65 Colorado cities and 27 counties.

"Colorado is the best place in the world to live, work, play and start or grow a small business," says Mike O'Donnell, the organization's executive director. "Our entrepreneurs are all amazing, and we were thrilled to see so many people come out to celebrate our success and all small-business achievement in  2016."

Colorado Lending Source also presented awards to five entrepreneurs: Clear Intentions, Maria Empanada, Sample Supports, Sweet Action Ice Cream and Vortic Watch Co. Juana Gonzales from Mile High Delights received the Ice House Achievement Award for effectively implementing strategies taught in the Ice House Entrepreneurship Program and for launching her business as a result of the program.

Two banks also received an award: FirstBank received the Top SBA 504 Partner Bank Award for partnering with Colorado Lending Source on 23 SBA 504 loans totaling $45.9 million; and First National Denver received the Top SBA 7(a) Partner Bank Award for its partnership on 10 loans resulting in $9.1 million in financing.

Contact Confluence Denver Development News Editor Margaret Jackson with tips and leads for future stories at margaret@confluence-denver.com.

Read more articles by Margaret Jackson.

Margaret is a veteran Denver real estate reporter and can be contacted here.
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