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Small businesses should get to know their banker

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The last thing anyone in the Small Business Development Center’s business planning class expected was relationship advice. The participants had spent 13 weeks and 39 hours developing business plans, working the numbers, developing spreadsheets and practicing their 30-second “commercial,” also known as the business pitch. They, the 13 business hopefuls in the class, are sure… Continue Reading Small businesses should get to know their banker

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It has been a good year for Colorado credit unions. Billed as the alternative to traditional banks, credit unions gained 40,000 members across the state in 2012 and grabbed 26.6 percent of the market. One national survey released this week says credit unions are riding a wave of customer satisfaction and reached record-high membership in… Continue Reading Credit unions still riding wave of big-bank backlash

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Buy business equipment now for tax write-offs

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With all the “Bah, humbug” talk of the so-called fiscal cliff and worry over whether tax increases will be coming in 2013, some small-business owners may have forgotten about a tax deduction provision that could help with this year’s tax bill. Known as Section 179 Deduction in the tax code, it’s not sexy and has… Continue Reading Buy business equipment now for tax write-offs

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Advice: Provide disclosure when raising capital

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Many small-business owners with great ideas, products, or services form a business entity (such as a corporation or limited liability company) and begin operations, but do not have enough capital to fully develop, market, or expand their business. With banks and other financial institutions being subject to heightened scrutiny and increasing government regulation and oversight,… Continue Reading Advice: Provide disclosure when raising capital

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Colorado veterans are seeking and qualifying for U.S. Small Business Administration loans. In fiscal year 2012, ending Sept. 30, the Colorado District Office reported 68 loans to veterans for $26.4 million and 47 loans to disabled veterans for $23.8 million. In fiscal year 2011, there were 72 loans to veterans valued at $29 million and… Continue Reading Colorado veterans recieving millions in small business loans

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Mark White, the newly named president and CEO of The Bank at Broadmoor, moved around a bit when he was a kid, but considers Colorado Springs home. His father was in the military and White went to junior high and high school in the Springs and came back here for his MBA at the University… Continue Reading Bank at Broadmoor names new president and has plans to grow

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U.S. Bank named military friendly by G.I. Jobs

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This Veterans Day, U.S. Bank said it has hired 2,300 veterans nationwide, surpassing its military hiring goal for 2012. “U.S. Bank is firmly committed to employing and supporting veterans, active-duty service members and their families,” said Richard Davis, chairman, president and CEO of U.S. Bancorp, parent company of U.S. Bank. “Veterans bring valuable leadership skills… Continue Reading U.S. Bank named military friendly by G.I. Jobs

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There are many things Kirkpatrick Bank could do to grow business, things like change its  name or launch a cool marketing strategy. But if they don’t have the right people, it would flop, said Trent Stafford, Kirkpatrick senior vice president. That’s why the Edmond, Okla.-based bank, which has a branch in downtown Colorado Springs, has… Continue Reading Kirkpatrick Bank assembles team of heavy hitters, making a play to double in size

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It’s true that small business lending has declined since the 2008 financial meltdown, but the most revealing reasons behind the trend are complex. Multiple factors have kept small businesses in a holding pattern, afraid to make any sudden changes. It’s the sluggish economy, the looming presidential election and rancorous political climate and the more stringent… Continue Reading Banks, small businesses working through post-recession blues

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The U.S. Small Business Administration’s loan programs posted the second largest dollar volume ever in FY 2012, supporting $30.25 billion in loans to small businesses. That amount was surpassed only by FY 2011, which was heavily boosted by the loan incentives under the Small Business Jobs Act of 2010. In Colorado, the trend in SBA-backed… Continue Reading SBA loan dollars reach second largest amount in program history

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