Additional resources across Colorado available to manufacturers.
Manufacturer’s Edge (Formerly known as CAMT) is a statewide manufacturing assistance center dedicated to increasing the competitiveness of Colorado manufacturers. Our manufacturing business advisors provide expertise in results-driven methodologies, best practices, and innovative technologies designed to increase profitability. Manufacturer’s Edge is the Colorado affiliate of the national Manufacturing Extension Partnership.
Published for over 45 years, ColoradoBiz Magazine is the state’s preeminent business publication and media franchise as well as the host of the Annual Made in Colorado event. The primary mission of ColoradoBiz is to inform and educate the region’s business professionals about the issues, people, businesses, and management trends at the forefront of influencing economic conditions in Colorado and the West. Sign up for a free subscription at https://www.cobizmag.com/customer-care/subscriptions.
CHFA provides owner-occupied commercial real estate financing in conjunction with the SBA 504 program. Generally, CHFA provides a first mortgage for up to 50% of the total project, the SBA provides a second mortgage for up to 40%, and the borrower contributes 10% equity. Rates are fixed for twenty years. Call CHFA for current rate information and availability.
Rural Development Loan Program
CHFA’s Rural Development Loan Program (RDLP) targets Colorado businesses in select rural communities with populations of less than 25,000. Loans can be used to purchase owner-occupied commercial real estate and equipment with a maximum loan size of $500 thousand. Benefits include long-term fixed rates of up to twenty years for real estate, 90% loan to value/loan to cost, and no prepayment penalties.
Wyatt K. Jones Alex Dempster
Industrial Development Bonds
Industrial Development Bonds (IDBs) are tax-exempt Private Activity Bonds issued on behalf of manufacturers to finance qualified capital projects up to $10 million including facility construction/improvements/expansion and equipment. The manufacturer benefits from CHFA’s tax-exempt status and its ability to issue debt obligations at tax-exempt rates. As a result, the manufacturer receives a lower interest rate on the financing than comparable taxable or conventional financing.
Cash Collateral Support Program
Small and medium sized business owners that are short on collateral can secure the credit they need with the CCS Program. Banks that use the CCS program will receive cash deposits as collateral for a business loan when the business cannot meet the collateral requirements. The maximum loan size allowed is $5 million and the business borrower must have less than 750 employees.
Denver launched a Business Investment Program that encourages new and existing businesses of all sizes in Denver to invest in growth. The program can provide a four-year tax credit for qualified businesses for investing in equipment and other business personal property to expand operations and grow employment opportunities.
Denver Revolving Loan Fund
OED’s Revolving Loan Fund program (RLF) enhances the ability of business owners to secure the necessary capital to finance business expansion projects. This gap financing program works by lending up to 25% of project costs, thereby inducing banks to provide the bulk of the financing for small businesses.
Denver Training Subsidies
Using federal workforce funding, OED can work with Denver businesses to hire and train new employees with a training subsidy that would offset a portion of the employee wages lasting from one to six months.
Denver Manufacturing Initiative
OED launched an Advanced Manufacturing Advisory Council (AMAC) to meet Denver’s current and future advanced manufacturing workforce needs. Council members include employers, industry associations, education and training institutions and public and nonprofit workforce development agencies.
Contact: Peggy Severson, Manufacturing Business Development Representative Peggy.Severson@denvergov.org
The Colorado Small Business Development Center Network (SBDC) is dedicated to helping small and mid-size businesses throughout Colorado achieve their goals by providing free and confidential consulting and low-cost training programs.
The SBDC combines information and resources from federal, state and local governments with those of the education system and private sector to meet the specialized and complex needs of the small business community. Consulting experts work in partnership to provide entrepreneurs with crucial information that can mean the difference between success and failure.
If you’re a Colorado manufacturer or professional service provider looking to start or expand your international sales, then you will want to use the services of the Colorado Office of Economic Development and International Trade (OEDIT). We work to create and retain jobs by helping Colorado companies expand and diversify their markets, as well as build our state’s identity as an international business center. Our international staff assists companies in obtaining the information, skills, resources and contacts they need to successfully export goods and services worldwide.
APICS Northern Colorado (NOCO) provides exceptional educational and networking opportunities for supply chain and operations management professionals in Northern Colorado and Wyoming. The organization is a leader in innovative education and certification programs on a variety of lean and supply chain topics. Beyond classroom instruction, stay connected events include educational presentations, facility tours, and networking activities. Volunteers also benefit from a wide variety of leadership development opportunities that help them improve their skills in strategic thinking, public speaking, and managing organizational dynamics.
Colorado Department of Labor & Employment – Innovative Industries Internships:
Denver Public Schools CareerConnect / CareerLaunch Summer 2016 Internships:
Colorado Workforce Development Council – BEL Commission / B.A.S.I.C.