The CCR Program is Open for Business

In the past, the Colorado Credit Reserve (CCR) program provided Colorado banks an opportunity to mitigate risk on small business loans through an externally-funded cash reserve, giving small businesses greater access to capital.

Well, now it's back with several enhancements. While the banks still control the underwriting, loan approval, funding and servicing:

• Loan size has been increased up to $500,000
• Borrower fees have been reduced
• Lender fees have been eliminated
• Reporting has been reduced

CHFA will serve as a resource to bankers by answering questions, marketing the program statewide, and administering the state's investment. Additionally, our staff will be providing onsite training in the upcoming weeks. Detailed program documentation will be available next week on CHFA's website, www.chfainfo.com.

With all the recent media attention, we have already received many borrower calls. Interested borrowers will be referred to CHFA's website for a list of participating banks.

If your bank would like to participate in the CCR program, please contact CHFA Business Finance at 303.297.7345 or adempster@chfainfo.com.