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Small Business Loans in Colorado (2021 Update)

In 2015, Colorado recorded a record year for small business loans. According to the Denver Business Journal, small businesses in the state secured a whopping $710 million in loans from the Small Business Administration. The total surpassed the previous fiscal year by $47 million.

Small businesses in Colorado acquired 1,754 total loans backed by the Small Business Administration. The biggest beneficiaries of small business loans were the retail and construction trade. The state also saw plenty of diversity in small-business lending with many loans going to minority-owned businesses. Loan sizes varied in the state with 590 loans approved at $50,000 or less, which totaled around $13 million. Small businesses employ 97 percent of the private workforce in Colorado with two out of every three jobs created through the private sector.Small Business Loans in Colorado

The Denver Business Journal also reported that Wells Fargo was the top small business lender in fiscal year 2015 followed by U.S. Bank. According to the Journal, Wells Fargo approved 434 small business loans backed by the SBA totaling $88.3 million. There were 267 small business loans approved by U.S. Bank totaling nearly $41.9 million. Smaller banks in the state were part of the lending frenzy, with local lenders such as Home State Bank providing eight loans backed by the SBA worth $3 million.

In an op-ed on, Governor John Hickenlooper proclaimed that Colorado is the best state in the nation to start a small business. He pointed out that the state’s income tax rate is one of the lowest in the United States at 4.63 percent. He also said that there is very little bureaucratic red tape when starting a small business in the state. According to the governor, startup costs are very low, and it is very easy to obtain working capital through small business loans backed by the SBA.

Banks in Colorado That Offer Small Business Loans

For your small business loan needs, here are the most highly-rated banks in the state:

The Colorado Bank and Trust Company of La Junta

Founded in La Junta on 24 June 1907, it was first known as the Southern Colorado Trust Company. From a capital stock of $75 thousand, it has become one of the best banks for small businesses.

TBK Bank

Formerly known as the Valley Bank and Trust, TBK Bank provides an even wider spectrum of services to its customers through its 32 branches in the state.

First State Bank of Colorado

The First State Bank of Colorado is served by Colorado locals who call this state their home. Its warm accommodation of local communities and great financial strength have earned the bank its place on this list.

Centennial Bank

From insurance to bill paying to small business loans, you can trust Centennial Bank for your banking needs, whether personal or business.

High Country Bank

A bank founded by the citizens of Colorado themselves, High Country Bank was founded on 26 October 1886.

Yampa Valley Bank

Yampa Valley Bank was first organized by local business owners and community leaders. Today, the bank remains involved with local groups and events and maintains high bank ratings.

Top Cities in Colorado and Their Lenders

Colorado is one of the nation’s most popular states. The region is well-known for its beautiful landscape year-round. During the winter, Colorado becomes a hotspot for skiing and other snow sports. During the summer, Colorado attracts tourists and inter-state visitors because of the scenic hiking trails inside the state. Colorado also has a thriving small business community, so it’s a good spot to start a new company if you’re considering it. Below are the top cities in Colorado for small businesses – we’ve also provided you with our favorite local lenders in each city.

Denver, Colorado

Denver is the largest city in Colorado. It’s the gateway to the Rocky Mountains. Many people from around the nation fly into Denver and then begin exploring the rest of the state. Denver also plays home to people working in the natural resources sector. If you want to start a business in the area, check out our suggested lenders below:

Bank of Colorado

As one of the largest financial institutions in Colorado, the Bank of Colorado is your best option in Denver. They have branches around the city that can help you get the personal touch you need with your commercial loan.

Centennial Lending

Centennial Lending is a large business lending company that has major offices in Denver and Boulder. They’re well known for being experts at providing commercial mortgages and other forms of small business loans. If your business needs to buy some new property, this is a very good option.

Colorado Springs, Colorado

Colorado Springs is one of the most scenic areas of Colorado. For this reason, the city’s local economy benefits from an influx of tourism every year. The area is extremely popular with small business owners. Check out the lenders we recommend below:

Integrity Bank & Trust

Integrity Bank & Trust is our top pick in the Colorado Springs area. This large lender has branches in Colorado Springs, so you can meet with lending representatives to discuss your financing. They provide loans, lines of credit, and equipment leasing help.

Bank of Colorado

As with Denver, the Bank of Colorado is a popular lender in the Colorado Springs area. They’re a very popular choice with those who are looking for a large lender. As one of the best lenders in the whole state, we can’t recommend this bank enough. They also have personal services for those who want a single source of banking products.

Aurora, Colorado

Aurora is another beautiful city in Colorado. The local economy benefits from the surrounding Air Force base and local medical centers. There are tons of great small business lenders in the area – check them out below:

Colorado Enterprise Fund

The Colorado Enterprise Fund is a small non-profit that supplies small business loans and microloans to individuals who own businesses. They have a large client base in the Aurora, Colorado area.

Aurora Bank & Trust

Aurora Bank & Trust is another Aurora based lender that has a large customer base in the area. They provide various types of small business loans to their customer base. Some of their business financing offers include, SBA loans, SBA express loans, lines of credit, and traditional business installment loans.

Fort Collins, Colorado

Fort Collins is another city in Colorado that benefits from its proximity to mountains and hiking trails. It’s a great place to move a family – it’s much more affordable than other areas in Colorado. Below are the different lenders currently available in the area:

Colorado Lending Source

Colorado Lending Source is a small, mainly online lender that provides business loans to people throughout Colorado. They have a large presence in the Fort Collins region. They provide small business loans, commercial real estate loans, and other form of specialty business lending. Have a look at their website for more information.

Guaranty Bank & Trust

Guaranty Bank & Trust is a regional bank that has a large customer base in Fort Collins. The bank is well-known for providing full service lending and banking for both consumer and business customers.

Lakewood, Colorado

While the largest employer in Lakewood is the government, there are still various private businesses in the area. If you’re looking to work with a lender in the area, we suggest the lender listed below:

Centennial Lending

Centennial Lending may be located in Denver, but they also have plenty of business partners in the Lakewood area. This is one of the most popular lenders in the region. They provide a range of different commercial loans, but they’re experts at providing businesses with real estate loans.

Arvada, Colorado

Arvada is a former Gold Rush town that has managed to diversify itself into a range of other industries. If you’re looking for a cheap place to start a business, Arvada is a good choice. Our top lender in the area is listed below:

Sooper Credit Union

Sooper Credit Union has a local office in Arvada to help clients receive personal and business financing. They’re a great choice for business owners who want a local partner. Despite how small they are, they have a great online banking platform.

Westminster, Colorado

Westminster is often considered an extension of Denver – many of the residents commute to the city every day for work. But Westminster is much cheaper than Denver, which makes it an attractive place to start a business. Below is the lender we recommend for those starting a business in Westminster:

Bank of Colorado

Because of Westminster’s proximity to Denver, the Bank of Colorado is the lender of choice in the region. As mentioned previously, this bank has a great reputation for providing exceptional small business loans throughout the state.

Boulder, Colorado

Boulder, Colorado is the home of the University of Colorado. The area is well-known for its music scene and laidback culture. It’s the perfect place to start a company if you’re the right type of business owner. Below is our favorite lender for Boulder, Colorado:

Elevations Credit Union

Our favorite lender in the Boulder, Colorado area is Elevations Credit Union. They have a local presence in Boulder and provide their business clients with lines of credit, term loans, and credit cards. They’re a great choice!


Remember, some of these companies or banks are very specialized and may only handle SBA loans or a business line of credit. Ask them about any special programs for minorities or women. Also ask for information about business grants for startups if that interest you. If you bad credit don't worry as there still may be other alternative lenders willing to work with you.