Are you a small business owner that can’t seem to qualify for a traditional bank loan?
Or are you a lender looking to expand your small business client base?
B:Side Capital’s unique approach to small business lending may be your answer.
For over 30 years, B:Side Capital has been a trusted SBA lending partner in Colorado as a Certified Development Company and Lender Service Provider with the positive impacts of economic development felt from the Eastern Plains to the Western Slope. With the ability to now facilitate SBA 504 loans in Utah, the organization plans to increase their impact and further their mission to foster the economic growth of diverse small businesses. And not just through SBA financing, they also offer direct lending options with their sister organization, B:Side Fund, which includes a pool of dedicated funds specifically for Utah-based businesses who are unable to access traditional bank financing.
As a mission-based non-profit lender, B:Side Capital has approved over 5,000 small business loans, injected $5.69 billion into the economy, helping to create more than 32,000 jobs. In 2021, B:Side Capital partnered with a total of 64 banks and credit unions on SBA 504 and 7(a) projects (view their 2021 Colorado lending partners here), and has received the SBA 504 Large Certified Development Company Award by the Colorado District Office consecutively since 2013.
(B:Side Capital) | Record Breaking Impact.
Now, B:Side Capital is committed to building partnerships with Utah lenders and small businesses to help provide more opportunities for economic growth through valuable lending options. Check out some of the Colorado-based small businesses they’ve helped on their website.
B:Side Capital’s CEO, Chris Myers, comments, “We are committed to ensuring that small business owners have what they need to be successful. Our banking partners play a critical role in the SBA process, so it’s our job to ensure that we also provide them with the tools and resources they need to help their clients. Our team of dedicated SBA experts is incredibly passionate about helping small businesses grow and prosper and we’re excited to further our impact in the state of Utah.”
As a forward-thinking industry expert, they have heavily invested in new technologies to ensure the best possible experience and offer outstanding customer service no matter the size or scope of the project. Within B:Side Capital’s Lender Portal, they provide a library of SBA tools and resources specifically to help lenders navigate the loan process. In addition, lenders have access to the Lender Deal Room, a referral-based system of potentially eligible SBA borrowers to help build out their client base. This unprecedented approach to SBA lending is sure to rock your socks off. Lenders, learn how you can partner with B:Side or email hello@bside.org.
About the SBA 504 and 7(a) Loan Programs
The SBA 504 loan program is a public-private partnership financed by a bank or credit union (up to 50% of the total loan), by B:Side Capital on behalf of the SBA (up to 40% of the total loan), and by the business owner (as little as 10% depending on the type of business). With low down payment options and long-term fixed interest rates, this unique loan program allows business owners to purchase commercial real estate, and/or long-term machinery or equipment, in addition to debt refinancing options that they wouldn’t be able to access with traditional lending options.
Additionally, B:Side Capital is also considered a Lender Service Provider (LSP) under the SBA 7(a) loan program, supporting banks as their SBA back office experts and helping to mitigate their risk with an SBA guarantee of 75% to 85%. Eligible use of funds under this program include business acquisition, expansion, working capital, debt refinance, startup costs, tenant improvements among other general business purposes.
How To Get Started For Lenders:
Visit B:Side Capital to learn more and sign up through their lender portal to access an array of SBA materials, resources, and the Lender Deal Room.
How To Get Started for Small Business Owners:
Visit B:Side Capital’s sister organization, B:Side Fund, and fill out a brief eligibility check to see if you’re potentially eligible for the financing options they offer.