Pub. 4 2014-2015 Issue 5

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S March • April 2015 19 A legal partner you can trust. Our advantage is simple—we under- stand the business. Stinson Leonard Street’s banking attorneys have broad experience in matters related to financial services, including commercial lending, mergers and acquisitions, regulations and compliance, litigation and payment systems. Bank on our reputation and knowledge. The choice of a lawyer is important and should not be based solely on advertisements. STINSON LEONARD STREET LLP \\ STINSONLEONARD.COM Law Offices in 14 Locations Nationwide Our Colorado Office: 6400 South Fiddlers Green Circle, Ste. 1900 \ Greenwood Village, CO 80111 \ 303.376.8400 Ernie Panasci Deborah Bayles Kristin Godfrey Perry Glantz Karen Jones 30202 CO Banker Ad_Layout 1 11/17/14 11:40 AM Page 1 its second disbursement. The federal funds have generated $60 million in private sector financing to Colorado businesses and have impacted more than 2,000 jobs throughout the state. Joe White, owner of The Silo Adventure Center in Grand Junction used SSBCI funds to help him acquire and renovate real estate for his new business. White says the program helped increase the amount of financing available to him. White noted that his business isn’t the only one in the area that has benefited from the program, “Our location was somewhat depressed with several vacant properties. Now that more businesses are moving into the area, traffic has increased for all of us. It has revitalized this community.” More than $1.1 billion in SSBCI funds has been disbursed to participating states since the beginning of the program. “Through the State Small Business Credit Initiative, the Trea- sury Department, states, and private sector lenders and investors are supporting small businesses and creating a lasting impact on the economy,” said Clifton Kellogg, Director of the SSBCI program in a statement. “Because of these funds, businesses have been able to buy new equipment, expand their facilities, and hire workers.” The SSBCI program was established on Sept. 27, 2010 when President Obama signed into law the Small Business Jobs Act of 2010. The program is expected to spur up to $15 billion in new private sector lending or investment in small companies by leveraging $10 in private capital for every dollar of federal support by the program’s end. Colorado’s SSBCI funding is distributed through the Colorado Capital Access and Cash Collateral Support programs, adminis- tered by CHFA. The programs are designed to help businesses with 750 or fewer employees obtain loans from their local bank for working capital, inventory, real estate or equipment purchas- es, or lines of credit. Businesses can obtain more information about Colorado Capital Access and Cash Collateral Support, including a com- plete list of Colorado Capital Access participating lenders, at chfainfo.com. n About Colorado Housing and Finance Authority (CHFA) CHFA finances the places where people live and work. Created in 1973 by the Colo- rado State Legislature, CHFA strengthens communities by making loans to low- and moderate- income homebuyers, affordable multifamily rental housing developers, and small and medium sized businesses. CHFA also provides education and tech- nical assistance about affordable housing and economic development. CHFA is a self-sustaining public enterprise. CHFA issued bonds are not obligations of the state. For more information about CHFA please visit www.chfainfo.com . Contact our Denver office at 1.800.877.chfa (2432), or our Western Slope office at 1.800.877.8450.