Central Bank earns top status with SBA
When the numbers rolled in for 2012 about Small Business Administration-backed loans in El Paso County, no one at Central Bank & Trust was surprised that their bank ranked in the top echelon. The bank approved $11.3 million in SBA 7a loans — the most in dollar amount for the county in fiscal year 2012. [...]
The Community Development Financial Institution, a branch of the U.S. Treasury Department, released a $1.5 million grant for a new program aimed to help low-income families find good paying jobs. Called Ways to Work, the program provides affordable loans and financial education to working families with challenging credit histories. Clients use the loans to purchase [...]
Continue reading …Wells Fargo, Bank of the West and US Bank National are the top Colorado lenders for SBA-backed loans. The Small Business Administration Colorado district office on Tuesday named the top performing lenders, based on the total SBA 7(a) loan approvals and dollar value for the first nine months of FY 2012. In Colorado, the top [...]
Continue reading …Seven Colorado banks and credit unions have signed up to participate in the Small Business Administration’s Export Express loan guaranty program. It means more access to capital for small businesses interested in beginning or expanding their export services. Seven private lenders, covering most counties in Colorado, have signed agreements to participate in the program. SBA [...]
Continue reading …Bennet wants business opinions of federal contracts, asks SBA for quicker loans
January 30, 2012 Comments OffColorado Sen. Michael Bennet wants to know what businesses think about their experiences with federal grants and contracting processes. Bennet launched two online surveys for Coloradans who have applied for, submitted bids or have been awarded federal grants and contracts. “As I travel the state, I’ve heard from Coloradans who have had both positive and [...]
Continue reading …Security Finance will have to refund some of the fees it charged its loan customers dating back to 2004, under an agreement reached with Attorney General John Suthers office. The company had 13 locations in Colorado – Colorado Springs, Alamosa, Cortez, Denver, Grand Junction, Pueblo and Trinidad. “Colorado’s lending laws are designed to ensure that [...]
Continue reading …A bank research firm says the number of Colorado financial institutions with high levels of delinquent loans has jumped from 13 three years ago to 70 today. About 36 percent of the 195 Colorado banks that Bauer Financial Inc. firm tracks have high levels of bad loans, meaning the banks’ nonperforming loans are 3 percent [...]
Continue reading …NEW YORK (AP) – Those “green shoots” of economic rebound don’t yet have very deep roots. While some economic indicators are pointing to better days ahead, data shows consumers continued to struggle to make loan payments in the first quarter. The latest evidence showed in the rate of auto loan payments that were 60 days [...]
Continue reading …Bankers Association president: don’t believe the hype, Colorado banks healthy
March 17, 2009 Comments OffConsumers and investors are anxious about the economy and the stock market, but loans are still being made and return on investment is still possible at Colorado banks, says the president of the Colorado Bankers Association. “Public perception is that there isn’t any credit available,” said CBA President Don Childears, “but banks chartered and headquartered in [...]
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