SBA Colorado district office receives award

The Small Business Administration's Colorado District office has received the Best Practices in Partnering with Small Business Lenders in Region Eight award from the American Western Lenders Conference Award Committee.

The Colorado office was honored for its innovative pilot initiative, developed in cooperation with the Greater Colorado Springs Chamber of Commerce, Colorado Springs Small Business Development Center and Colorado Springs SCORE Chapter, which helped promote new small business lending in El Paso County.

The goal of the initiative was to increase the number of active SBA participating lenders by cultivating smaller regional banks that were not participating in the SBA loan guaranty program.

During fiscal year 2006, the SBA approved 207 guaranteed loans in El Paso County. As of July 18, the SBA had approved 228 guaranteed loans. The fiscal year ends Sept. 30.

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