Bank of ESTES PARK Create $300,000 Micro Loan Fund for Local Small Business
Bank of Estes Park is the only truly local Estes Valley bank with its headquarters right next to Bond Park in downtown, another branch in southern St. Vrain, and a satellite branch down in Niwot. Why is that important? It’s important because we’re not like the other Estes Park banks, which are remote branches of large multi-state or national banks.
Estes Park is our home, community, local economy, clients, neighbors and friends. We care about and operate on a level that is not even possible for the other banks in the city for our local community. And that’s why we’ve created this large pool of funds in the Estes Park area designated for small businesses.
We acknowledged this as a need in Estes Park for almost five years and worked behind the scenes on this solution — evaluating different approaches, analyzing every option, getting it right … Essentially, what we did was partner with the state’s largest Community Development Corp — Colorado Lending Source.
The $300,000 pool of funds will be made available through its Main Street Loan Program, designated for small businesses in the Estes Park area, and it’s easy to apply.
Simply go to www.coloradolendingsource.org/loans/colorado-main-street and complete the application process— through them, the loan will be originated and serviced at reasonable prices and terms for up to eight years.
And as these loans repay, the pool of funds will naturally also grow, planting long into the future economic growth and vitality at ground level in Estes Park.
It’s not necessary for businesses to bank with Bank of Estes Park, although we certainly appreciate the organizations and community members that do banking with us, who understand the difference, and who recognize the tremendous benefits brought to this community by having a genuinely local, community bank in town — without you, we would literally not exist.
We are, by almost any description, a small, local business relative to the other banks in the region, and with a total of only 26 employees in the entire company. So, out of our gratitude for your business and for the success this community has brought to our little bank, it is our pleasure to create this pool of funds to help the other small businesses in the city “take that next step” in their growth, even if they are unable to obtain traditional bank financing.