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Top SBA Lenders in Colorado Springs, CO
| Rank | SBA Lender | SBA Lender HQs | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 88 | $249,559 | 9.3% |
| 2 | Huntington Bank | Columbus, OH | 71 | $366,670 | 10.0% |
| 3 | Newtek Bank | Miami, FL | 44 | $514,045 | 11.5% |
| 4 | Integrity Bank & Trust | Monument, CO | 41 | $373,459 | 9.6% |
| 5 | Northeast Bank | Lewiston, ME | 19 | $131,932 | 10.6% |
| 6 | Live Oak | Wilmington, NC | 12 | $1,840,208 | 9.5% |
| 7 | First Internet Bank of Indiana | Fishers, IN | 12 | $1,146,583 | 10.3% |
| 8 | United Midwest Savings Bank | De Graff, OH | 12 | $191,500 | 10.6% |
| 9 | Zions Bank | Salt Lake City, UT | 11 | $579,518 | 10.6% |
| 10 | Wells Fargo | Sioux Falls, SD | 11 | $532,955 | 10.6% |
| 11 | Readycap Lending, LLC | Berkeley Heights, NJ | 10 | $110,100 | 13.5% |
| 12 | Colorado Enterprise Fund | Denver, CO | 9 | $126,856 | 9.8% |
| 13 | BayFirst National Bank | Saint Petersburg, FL | 8 | $122,663 | 13.0% |
| 14 | Busey Bank | Champaign, IL | 7 | $856,414 | 9.3% |
| 15 | Celtic Bank | Salt Lake City, UT | 6 | $799,383 | 10.3% |
| 16 | Port 51 Lending | Green Bay, WI | 6 | $175,000 | 8.8% |
| 17 | Green Bay, WI | 6 | $175,000 | 8.8% | |
| 18 | Associated Bank | Green Bay, WI | 6 | $175,000 | 8.8% |
| 19 | Enterprise Bank & Trust | Clayton, MO | 5 | $1,208,840 | 9.0% |
| 20 | Community Banks of Colorado | Greenwood Village, CO | 5 | $799,140 | 9.4% |
Top Industries for SBA Loans in Colorado Springs
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 9 | Administrative Management and General Management Consulting Services | 9 | $353,889 | 10.6% |
| 7 | All Other Amusement and Recreation Industries | 7 | $290,143 | 9.9% |
| 4 | All Other General Merchandise Retailers | 2 | $25,000 | 12.5% |
| 3 | All Other Miscellaneous Manufacturing | 2 | $389,750 | 10.3% |
| 9 | All Other Personal Services | 5 | $217,700 | 9.7% |
| 10 | All Other Specialty Trade Contractors | 3 | $288,167 | 10.8% |
| 9 | Architectural Services | 2 | $298,200 | 9.5% |
| 8 | Automotive Body, Paint, and Interior Repair and Maintenance | 5 | $368,900 | 9.1% |
| 4 | Automotive Parts and Accessories Retailers | 2 | $2,331,000 | 8.2% |
| 14 | Beauty Salons | 8 | $183,775 | 12.8% |
| 8 | Beer, Wine, and Liquor Retailers | 4 | $621,000 | 8.4% |
| 10 | Child Care Services | 5 | $1,811,580 | 9.9% |
| 7 | Computer Systems Design Services | 2 | $225,000 | 11.1% |
| 6 | Custom Computer Programming Services | 6 | $176,667 | 9.8% |
| 1 | Diet and Weight Reducing Centers | 3 | $391,667 | 11.5% |
| 4 | Drywall and Insulation Contractors | 11 | $424,409 | 10.5% |
| 9 | Electrical Contractors and Other Wiring Installation Contractors | 24 | $653,679 | 10.3% |
| 3 | Elementary and Secondary Schools | 4 | $350,000 | 9.8% |
| 6 | Employment Placement Agencies | 2 | $150,000 | 11.3% |
| 2 | Fabricated Structural Metal Manufacturing | 2 | $41,000 | 8.5% |
| 1 | Financial Transactions Processing, Reserve, and Clearinghouse Activities | 4 | $805,850 | 9.0% |
| 14 | Fitness and Recreational Sports Centers | 6 | $192,933 | 9.8% |
| 6 | Flooring Contractors | 2 | $116,000 | 10.3% |
| 15 | Full-Service Restaurants | 17 | $549,418 | 9.9% |
| 8 | General Automotive Repair | 12 | $215,500 | 9.4% |
| 3 | Gift, Novelty, and Souvenir Retailers | 2 | $7,000 | 10.7% |
| 2 | Glass Product Manufacturing Made of Purchased Glass | 3 | $942,967 | 8.6% |
| 2 | Hobby, Toy, and Game Retailers | 2 | $144,000 | 11.3% |
| 10 | Home Health Care Services | 20 | $198,325 | 8.9% |
| 9 | Hotels (except Casino Hotels) and Motels | 3 | $1,928,067 | 9.0% |
| 1 | Industrial Building Construction | 2 | $445,850 | 5.6% |
| 12 | Insurance Agencies and Brokerages | 5 | $102,700 | 10.2% |
| 8 | Landscaping Services | 7 | $315,371 | 9.9% |
| 14 | Limited-Service Restaurants | 13 | $367,231 | 10.1% |
| 8 | Marketing Consulting Services | 3 | $163,333 | 9.8% |
| 2 | Motor Vehicle Supplies and New Parts Merchant Wholesalers | 4 | $500,000 | 10.5% |
| 11 | Offices of All Other Miscellaneous Health Practitioners | 8 | $110,438 | 12.1% |
| 8 | Offices of Certified Public Accountants | 2 | $638,700 | 7.4% |
| 8 | Offices of Chiropractors | 3 | $362,667 | 10.3% |
| 8 | Offices of Dentists | 7 | $250,000 | 10.8% |
| 9 | Offices of Mental Health Practitioners (except Physicians) | 2 | $108,250 | 11.1% |
| 7 | Other Accounting Services | 3 | $1,008,200 | 10.4% |
| 8 | Other Computer Related Services | 2 | $332,500 | 10.0% |
| 1 | Other Financial Vehicles | 2 | $812,700 | 7.3% |
| 10 | Other Personal Care Services | 7 | $466,629 | 10.5% |
| 5 | Other Services to Buildings and Dwellings | 2 | $204,000 | 9.5% |
| 10 | Painting and Wall Covering Contractors | 4 | $35,000 | 9.1% |
| 12 | Plumbing, Heating, and Air-Conditioning Contractors | 10 | $867,170 | 9.4% |
| 6 | Poured Concrete Foundation and Structure Contractors | 2 | $18,600 | 9.2% |
| 1 | Promoters of Performing Arts, Sports, and Similar Events with Facilities | 3 | $1,177,667 | 8.8% |
| 1 | Residential Mental Health and Substance Abuse Facilities | 2 | $1,500,000 | 10.0% |
| 12 | Residential Remodelers | 12 | $137,333 | 10.4% |
| 4 | Roofing Contractors | 2 | $150,000 | 9.9% |
| 4 | Security Systems Services (except Locksmiths) | 2 | $250,000 | 10.3% |
| 13 | Snack and Nonalcoholic Beverage Bars | 7 | $149,429 | 11.3% |
| 4 | Sports and Recreation Instruction | 2 | $200,000 | 9.6% |
| 4 | Used Car Dealers | 3 | $690,000 | 8.7% |
| 6 | Vending Machine Operators | 4 | $161,250 | 10.1% |
| 2 | Wood Kitchen Cabinet and Countertop Manufacturing | 4 | $31,600 | 8.0% |
Looking to start or grow your small business in Colorado Springs? SBA lenders are here to help. With flexible loan options and government-backed support, they make it easier for local entrepreneurs to access the funding they need. Whether you’re buying equipment, expanding, or launching something new, the right SBA lender can make it happen.
Click below to find your perfect SBA lender in Colorado Springs
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Top SBA Lenders in Colorado Springs | Colorado Springs SBA Loans
Introduction
Small businesses are the heartbeat of Colorado Springs, CO—fueling innovation, creating jobs, and enriching the community. As many entrepreneurs face capital challenges, SBA loans have emerged as a powerful tool for enabling business growth. With competitive terms, flexible qualifications, and support for a wide range of business needs, SBA financing plays a vital role in strengthening the local economy. In this guide, we dive into SBA lending activity in Colorado Springs, spotlight top local small business success stories, and offer helpful resources for entrepreneurs seeking SBA loans near them.
SBA Lending in Colorado Springs: Last Year Overview
SBA lending in Colorado Springs was robust last year, providing essential capital to nearly 200 local businesses. Here’s a snapshot of the SBA loan activity in the city:
- Total SBA Loans Issued: $102.3 million
- Number of SBA Loans: 198
- Average Loan Amount: $516,883
- Average Interest Rate: 10.80%
- Jobs Supported: 2,341
- SBAlenders.com City Ranking: 26th nationwide
These figures underscore the importance of SBA loans in sustaining and expanding the Colorado Springs small business landscape.
Success Stories of Small Businesses in Colorado Springs
The SBA loan program has supported thousands of local jobs in Colorado Springs. Here are five standout small businesses that received SBA loans and made the biggest impact in job support:
- Q CIMI LLC – A custom architectural woodwork and millwork manufacturer that supported 108 jobs.
- Daly Kaigo Corporation – Operates in the home health care services sector, supporting 65 jobs.
- Kings of CO LLC – A limited-service restaurant contributing to 46 jobs.
- Lucky Dumpling LLC – Another food and beverage success story, supporting 40 jobs.
- Black Forest MHP LLC – Operating in real estate and housing, supported 36 jobs.
These businesses exemplify the power of SBA loans in driving employment and economic activity across diverse industries in Colorado Springs.
Overview of SBA Loan Program in Colorado Springs
The SBA 7(a) loan program is the most popular and versatile loan product available for small businesses. Whether you’re looking to buy a business, purchase real estate, invest in equipment, pursue a partner buyout, or need working capital, the SBA loan program is designed with flexibility in mind.
Key highlights of the SBA 7(a) loan program:
- Loan Size: Up to $5 million
- Loan Term: 10 years (non-real estate); 25 years (real estate)
- Interest rates: Competitive, slightly higher than conventional loans
- Down payment: Typically 10%–20%
- Credit Requirements: Ideal credit score of 680+
- Cash Flow Needs: EBITDA must cover 115% of loan payment
- Collateral: No minimum required, but lenders will secure available assets
- Loan Covenants: SBA loans generally avoid restrictive loan covenants
Compared to traditional loans, SBA financing offers lower monthly payments, longer terms, and greater accessibility, especially for those with less conventional financial profiles.
Surrounding Areas
If you’re located near Colorado Springs or operate across multiple cities, here are 15 nearby cities and towns with strong small business activity:
- Alamosa
- Aurora
- Black Forest
- Canon City
- Castle Rock
- Centennial
- Denver
- Fountain
- Highlands Ranch
- Littleton
- Monument
- Parker
- Pueblo
- Security-Widefield
- Woodland Park
These cities also benefit from SBA-backed lending and could offer additional opportunities for business expansion.
Resources for Small Businesses in Colorado Springs
Colorado Springs entrepreneurs have access to a range of support networks for financing, mentoring, and development:
- Colorado SBA District Office – Offers local SBA guidance and loan support.
- Pikes Peak SBDC (Small Business Development Center) – Provides free consulting, low-cost training, and business resources.
- Colorado Springs SCORE Chapter – Connects small business owners with experienced mentors.
- Startup Colorado – Focuses on ecosystem development and rural business support.
- Chamber & EDC of Colorado Springs – Advocates for local business growth and policy support.
These organizations can help you navigate the SBA loan process, improve your creditworthiness, and maximize your business potential.
Summary
SBA loans remain a powerful tool for entrepreneurs and small business owners in Colorado Springs. With over $102 million in SBA loan funding supporting more than 2,300 jobs last year, local businesses are tapping into this financing to expand, hire, and thrive. Whether you’re exploring business acquisitions, securing equipment financing, or planning a real estate investment, SBA loans offer unmatched advantages. And with resources like the SBDC and SCORE, you’ll have expert support every step of the way.
For more insights and help finding the top SBA lenders in Colorado Springs or SBA loans near me in Colorado Springs, visit SBALenders.com