Small Business Loans in Colorado
Our alternative approach to financing allows us to invest in Colorado small businesses that other lenders overlook — regardless of their size or industry. We lend flexible, patient capital and tailor financial solutions to meet entrepreneurs where they’re at.
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We provide entrepreneurs $1,000 to $350,000 in debt capital to launch, operate or grow their business.
We offer fixed interest rate loans.
Our rates are based on the prime interest rate set by the Federal Reserve plus 4% to 6%.
Loan terms up to 5 years.
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Borrowers can be from any industry and at any stage of their business’s life cycle — from start-up to mature. As a Community Development Financial Institution (CDFI), AltCap focuses its capital deployment to entrepreneurs who have been overlooked by mainstream financial institutions. An AltCap Business Development Officer can help you decide if a loan is right for your business.
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To apply for a small business loan, you will be asked to provide the following documents:
Personal Documentation
• One form of ID (each signer) – One with a picture other with a name only
Business Documentation
• Business Plan (if the business is under one year in operation)
• EIN (Tax ID) Form
• Operating Agreement (for LLC) or By-Laws (for Corporations)
• Business Insurance and Collateral Insurance
Financial Documentation
• Two years of personal and business tax returns, including all schedules and 1099s
• Income Statement, Balance Sheet, and Cash Flow Statement, Year-to-Date Financials
• Business Debt Schedule
• Bank statements via Plaid software. Startups should provide a business plan and financial projections in lieu of historical financial statements.
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- Origination fee of 2-5%, depending on your loan product.
- Monthly $15 servicing fee on all loans to cover administrative costs.
- Other fees may include UCC filings, vehicle lien filings, or title recording fees.
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Ensure your financial statements are up to date, accurate, and clearly reflect an understanding of your business operations.
Craft a detailed and well-supported plan for how you will use the funds. This should include the projected return on investment, whether through potential revenue growth or operational efficiencies.
Prioritize building relationships with your lenders by maintaining open communication and demonstrating a track record of reliability — this can significantly enhance your chances of loan approval.
Explore all your options, whether they involve traditional bank loans, SBA loans, or specialized industry-specific funding programs.
Maintain liquidity and reduce existing liabilities whenever possible to improve the overall financial health of your business and make it more attractive to lenders.
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As a non-profit CDFI, AltCap strives to provide competitive rates for all our loans. Click here to see how our rates compare to banks, credit cards, and payday lenders.
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Our interest rates are based on the prime rate, plus 4% - 6%. The prime rate is the interest rate that commercial banks charge their most creditworthy customers. The Federal Reserve sets the federal funds rate which serves as the basis for the prime rate, which is the starting point for other interest rates.
Although the Federal Reserve has no direct role in setting the prime rate, many banks choose to set their prime rates based partly on the target level of the federal funds rate — the rate that banks charge each other for short-term loans — established by the Federal Open Market Committee.
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Si necesita un préstamo para pequeñas empresas y necesita ayuda en español, comuníquese con Karina Lopez al (833) 549-2890 o karina@altcap.org.
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If you have an existing AltCap loan and have questions about your loan terms or if you need to update your information, please contact Viva Young at 816-269-7809 or viva@altcap.org.
If you need to make a payment on your existing AltCap loan, please contact Viva Young at 816-269-7809 or viva@altcap.org.
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Colorado small business owners with questions about the process can contact us at info@altcap.org or call (833) 549-2890.
If you are ready to begin the process, click the Start Application button below and follow the directions.
Financing Products
ARTcap Microloans for Creatives
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AltCap’s ARTcap microloan is designed to help artists and creatives pursue their passions, grow their businesses and drive impact in our communities.
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Artists and creatives have historically lacked access to flexible, patient capital and it has limited the growth of these small businesses. At AltCap, we believe in potential. We’re leading an effort to understand the needs and barriers of small businesses and provide the resources and capital to help entrepreneurs grow and sustain their businesses. Read more about AltCap’s impact.
Small Business
Loan Fund
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This loan fund allows AltCap to lend to any small business in any industry and at any stage of growth.
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Businesses located in low-income neighborhoods have historically lacked access to flexible, patient capital and it has limited the growth of these small businesses. At AltCap, we believe in potential. We’re leading an effort to understand the needs and barriers of small businesses and provide the resources and capital to help entrepreneurs grow and sustain their businesses. Read more about AltCap’s impact.
Veteran
Loan Fund
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AltCap recognizes the unique challenges that veteran entrepreneurs face when starting and building a business. That's why we've dedicated ourselves to help veterans access start up and growth capital and provide them the assistance they need in their entrepreneurial journey.
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The AltCap Veteran Entrepreneur Loan Fund is targeted at veterans and their spouses, providing accessible, flexible capital to start or grow a business. By assisting veterans successfully transition back to civilian life, we are supporting the men and women that protect our freedom while helping our local economy grow and thrive.
CONTACT US
AltCap’s Business Development Officers are available to answer your questions and help you decide if a loan is right for your small business.
Fill out this form and we’ll help tailor solutions for you and your business.
Taking your business to the next level
AltCap offers personalized Business Support Services
to help entrepreneurs turn good ideas into loan-ready businesses.
From business planning and credit restoration to tax strategy and scaling up, our support services are delivered through trusted local and national partners. These resources are designed to support both loan-seekers and current borrowers. Whether you're preparing for financing or strengthening an existing business, AltCap will connect you to the right resources.
Articles for Entrepreneurs Exploring Small Business Loans
Frequently Asked Questions
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As a mission-driven Community Development Financial Institution (CDFI), AltCap can often overcome traditional lending constraints. Challenges like previous denials, credit scores, bankruptcy, and limited collateral, may be overcome by other positive aspects of your business, like community impact, additional guarantors, or other sources of revenue. We’ll work to understand your needs and create solutions to help you grow your business.
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Yes. We lend capital to small businesses regardless of their industry, size, or stage of growth. Owners of startups will be asked to provide a business plan, financial projections, and other documentation in lieu of historical financial statements.
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No, AltCap does not offer depository services or consumer banking products, but we have other local CDFI and banking partners who can serve your unique needs. Visit the KC CDFI Coalition or speak to your Business Development Officer to learn more.
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AltCap and its affiliate, AltCap California, serve entrepreneurs in California, Colorado, Kansas, Missouri, Nebraska and Texas.
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Yes. We understand that your business has unique needs and while you work hard to be resourceful, challenges can arise. We will accept applications from businesses with up to two active loans and at least six months of payment history. Our team will work with you to assess your ability to take on new debt and what collateral may be available to support your needs.
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AltCap can provide entrepreneurs $5,000 to $250,000 in debt capital to launch, operate or grow their small businesses. Proceeds may be used to fund equipment, marketing, payroll, services, capital expenses, and more. The amount you can borrow will depend on your capital needs and your ability to cover the debt service.
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Collateral is not always required of our borrowers but providing collateral may help you access better loan terms. Discuss your collateral options with your Business Development Officer. UCC’s are required for all business loans.
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No. AltCap does not require a minimum credit score for most products. We work with you to understand the circumstances of your credit and evaluate it alongside your financials, management abilities, and growth potential.
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Our goal is to provide capital in a timely manner. On average, an AltCap loan can take 30-45 days from application submission to credit decision to complete. Questions or challenges may arise as we review your documents, and it is critical that you provide a timely response to keep the analysis and underwriting process moving.
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In addition to accessible capital, AltCap provides other business support and services to our clients. We also collaborate with other lenders and business advisors to provide you with the support you need to start, grow, and sustain your business. Talk to your Business Development Officer about your options and visit our affiliate organizations, equity2 and Community Capital Fund.