The Colorado Enterprise Fund has created a program for Colorado veterans and Gold Star family members who are interested in starting or growing a small business in the state.
Veteran Access Loan Opportunity Resource (VALOR) will provide discounted loan rates and extended terms for military veterans who are unable to secure financing through traditional banks.
Any honorable discharged U.S. military veteran or Gold Star family member who is a Colorado resident is eligible to apply for a VALOR loan of up to $500,000. Recipients will receive a 2 percent discount from standard Colorado Enterprise Fund rates and an origination fee of 1.5 percent. The loan term would be for up to 10 years with an interest-only period of up to six months.
The loans can be used for working capital, equipment, inventory, property improvements, business purchases and commercial real estate.
For more information, contact Senior Loan Office Mike Jensen, a U.S. Army veteran, at (720) 473-4068 or at email@example.com
Founded in 1976, the Colorado Enterprise Fund is a non-profit lending institution that specializes in loans for small businesses and startups statewide that are unable to secure traditional bank financing. To date, the organization has has made more than 2,000 loans totaling $63 million to small businesses.