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Financing a Small
Business
There are no government grants for starting a
new business.
Financing Facts
Financing Questions
Basic Loan Information
Sources of Financing
What Lenders Want - Financial Information You'll Need to Provide
Financing Facts
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The majority of new
businesses are initially financed by personal investments from the owner, family, friends and personal business
contacts.
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While it is not impossible, it is extremely difficult for start-up businesses and small businesses with less than three years of history to obtain outside financing.
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Financing existing businesses through conventional lenders is possible if the business has shown growth in sales and
profitability.
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It is essential to keep complete financial records to present to lenders and investors.
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Regardless of where you get your financing, you need to put together an organized and well thought out financing proposal. See
Business Plan.
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Financing
Questions
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What kind of business person am I?
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What do I need financing for?
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Are the terms of the loan acceptable?
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When do I need the financing?
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How will I pay the money back?
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How much money do I have to contribute to my small business?
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How will capital make
my business better?
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Basic Loan
Information
Credit Information - To get
information on your credit rating, use the only official website for obtaining free annual copies of your credit report:

www.annualcreditreport.com
Do not click on a website that someone else has provided for you nor one that you find by searching on-line. You may also call toll-free, 1-877-322-8228.
Capital
- If you are seeking a loan, the financing institution will require
that you personally invest money of your own in the business (approximately
25-30%
of the loan amount)
Collateral -Such as real-estate, is necessary to back up the loan. Business start- ups
often use their home for collateral.
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Micro-Loan Programs
Program |
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Loan Size |
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City of Aurora Business Revolving Loan Fund
303-326-8690
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City of Aurora, with emphasis on aging commercial corridors, including Colfax and Havana |
$5,000-75,000 |
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CHFA
(303) 297-2432
www.colohfa.org
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Colorado |
Wide variety of programs |
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12-County
Colorado Front Range |
$500-$150,000 |
MicroBusiness Development
303-308-8121
www.microbusiness.org |
Colorado |
Business Works Program
$500-$60,000
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Colorado |
Savings program with matching funds |
SBA Community Express
Loan Programs
The Aurora BDC serves as a Technical Assistance provider, (303) 326-8690 |
Colorado |
$5,000, $10,000 and $15,000 |
Colorado Alliance for Microenterprise Initiatives (CAMI)
The mission of CAMI is to create a sustainable network of microenterprise resources, to assist microentrepreneurs and our communities to promote self-sufficiency, alleviate poverty and create jobs through business development in Colorado.
1625 Broadway, Suite 950, Denver, CO 80202
(303) 592-4064; Fax: (303) 592-0461
E-mail: info@coloradoalliance.org
Web site: www.coloradoalliance.org
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The City of Aurora's BDC administrates the Revolving Loan Fund, designed to increase access to capital for existing small businesses, particularly in, but not limited to, Original Aurora (funded by an Economic Development Administration title IX Grant to mitigate the impact of
Fitzsimons' closure on local small businesses). Call (303) 326-8690.
Also available at the Aurora Business Development Center:
One-on-one counseling with the City's small business counselors is available at no charge to all Aurora small business owners and managers.
Obtaining Business Financing - - Sign up for a class today!
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Aurora Business Development
Center
9801 E. Colfax Ave., Suite 200
Aurora, CO 80010-2155
(303) 326-8690 Fax: (303) 361-2953
E-Mail: info@aurorabdc.com
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City of Aurora
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