CLIMBER Loan Fund Program
The Colorado State Treasurer’s Offices is seeking responses to a Request For Qualifications for Advisory Services and Brokerage Services to assist in the sale of up to $68 million of State of Colorado Deferred Insurance Premium Tax Credits. Click Here, for the full RFQ.
Interested companies should submit complete digital responses to: Charles Scheibe, COO/CFO, Department of the Treasury (Charles.Scheibe@state.co.us).
Proposals are due by 5:00 MDT on Tuesday October 6, 2020. Questions on this RFQ may be addressed to Charles Scheibe.
What is the CLIMBER Loan Fund Program?
The CLIMBER Loan Fund Program, leveraging up to $250M, will provide capital for loans for small businesses over the next two years and preserve thousands of at-risk jobs across the State.
While federal resources have provided a much-needed lifeline for many Colorado businesses, the State anticipates that additional support will be necessary for small businesses that have less capacity and fewer lending opportunities to weather the long-term effects of the downturn than medium to large sized businesses.
The CLIMBER Fund will provide capital for working capital loans averaging approximately $100k to over 1,000 of the hardest-hit businesses that had a track record of success prior to the pandemic.
Overall program oversight will come from a 5-member Small Business Recovery Oversight Board, chaired by the State Treasurer and co-led by the Director of the Colorado Minority Business Office. The Board will develop further criteria for loan eligibility, set loan amount parameters, and establish other requirements.
Treasurer Dave Young, Chair