chfa enews - community development 
March 27, 2020

help for small businesses: access to capital

Dear partners,

Amid the COVID-19 situation and its effect on local economies, OEDIT and CHFA understand that small businesses need help quickly and efficiently. We are encouraging lenders to consider using the Cash Collateral Support (CCS) and Colorado Credit Reserve (CCR) programs as flexible resources to support your business customers if your standard loan, SBA Economic Injury Disaster Loan (EIDL), or the other rapidly evolving disaster support mechanisms aren’t a better fit.

CCS is designed to help small- and medium-sized businesses access capital that would otherwise be unavailable due to collateral shortfalls, and to support business activity that isn’t eligible for an SBA loan.

CCR serves as a credit enhancement tool designed to provide Colorado lenders an incentive to stimulate safe and sound lending to small businesses statewide.

In addition to the support these programs provide, CHFA and OEDIT encourage participating lenders to be flexible with businesses that have been impacted and help them weather disruptions they are currently facing.

For More Information

For more details on these programs, including their criteria and if, or how, they may be adapted to support your customers in need, please contact Justin Vause, CHFA Commercial Loan Officer at 303.297.7345 or jvause@chfainfo.com.

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