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Venture capital attracts minds to share ideas

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Entrepreneurs wanting venture capital should have an articulate “elevator pitch” primed for any moment of opportunity, several investors said at a venture capital event last week at The Broadmoor. Venture capital provides seed money for budding businesses. The event brought investors from California to Texas together with Colorado Springs start-up companies and business leaders here.… Continue Reading Venture capital attracts minds to share ideas

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Credit card delinquencies drop nationwide

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Credit card delinquencies drop nationwide

The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) decreased to 0.57 percent in the second quarter of 2013 from 0.63 percent in the second quarter of 2012, according to TransUnion, an international credit information firm. In Colorado Springs, the 90-day credit card delinquency rate fell from 0.57… Continue Reading Credit card delinquencies drop nationwide

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CB&T still tops in local SBA loan market

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CB&T still tops in local SBA loan market

In the latest indication that Central Bank & Trust continues to dominate the local Small Business Administration loan market, the bank has received the SBA’s statewide “Small Lender Award for 2013.” So far this year, CB&T has completed 16 SBA-backed loans in El Paso County, totaling $9.2 million, far more than any other locally based… Continue Reading CB&T still tops in local SBA loan market

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Springs getting first new bank in four years

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Springs getting first new bank in four years

  Colorado Springs is about to get a new bank, led by a few familiar faces. Tim Stack, formerly of Wells Fargo in Colorado Springs, and Steve Ingham, most recently with Kirkpatrick Bank, are leading the effort to break Denver-based Colorado Business Bank into the Springs market. Stack is the bank’s local president, and Ingham… Continue Reading Springs getting first new bank in four years

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New branch, loans add up to big year for ANB

ANB Bank Regional President Lonnie Parsons knows exactly which direction his bank is heading — up. Parsons took over the Denver-based bank’s Colorado Springs operations last August, a time when ANB, the Pikes Peak Region’s fifth largest bank with about $400 million in assets, was facing lending challenges and had just endured an exodus of… Continue Reading New branch, loans add up to big year for ANB

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Merger will re-name Bank at Broadmoor

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Merger will re-name Bank at Broadmoor

Once The Bank at Broadmoor merges with Colorado Community Bank, the combined bank will also have a new name: Northstar Bank of Colorado. “It can be tough to lose such a valued name in The Bank at Broadmoor, but there are many positive things coming out of this,” said Mark White, bank president. “Northstar Bank… Continue Reading Merger will re-name Bank at Broadmoor

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Business tax picture muddled by reforms

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Health care reform kicks in for good in 2014, but this is the year that businesses have to keep meticulous records — because those records definitely will make a difference on next year’s tax returns. The paperwork for tax credits based on premiums paid by companies has been in the works for a couple of… Continue Reading Business tax picture muddled by reforms

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Any U.S. Bank customer who wants to make a donation to the American Red Cross can use any of the bank’s  124 ATMs in Colorado. “In response to the wildfires in our state, U.S. Bank will continue to accept donations from its customers for Red Cross disaster relief at 124 of its ATMs in Colorado… Continue Reading Red Cross donations accepted at US Bank’s ATMs

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Stockmens Bank, started in crisis, thrives today

Stockmens Bank 601 N. Nevada Ave. Owner, founder and president: Rob Alexander Number of employees: 17 Website: www.thestockmensbank.com/ Rob Alexander opened Stockmens Bank in November 2008, just as Bear Stearns was failing, AIG was declared “too big to fail” and the nation’s monetary system was suffering. It was good timing — at least in Alexander’s opinion.… Continue Reading Stockmens Bank, started in crisis, thrives today

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Investors beware fraudulent opportunities

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Inter Reef Ltd. seemed to offer the deal of a lifetime. The Internet-based investment company promised investors would “Get richer with every sunrise,” with a daily return on the investment of 1.5 to 2.5 percent. It promised it used Biblical values to invest money, with short-term “hard money loans” to businesses throughout the United States… Continue Reading Investors beware fraudulent opportunities

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