Farm Credit of Southern Colorado will break ground Monday on a $7.5 million building, off Platte Avenue and Wooten Road. The 39,360-square-foot building, at 5110 Edison Ave., will be the headquarters office for the growing Farm Credit of Southern Colorado. Farm Credit, which specializes in agricultural financing for farmers, ranchers and agribusinesses, is currently located […]
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The medical marijuana industry believes offering penny stocks to investors is the path to legitimacy and growth. Investment analysts call that a half-baked idea. A handful of medical marijuana companies sell stock on the Pink Sheets, the unofficial name for stocks that sell over the counter, with prices usually below $2. The stocks are not […]
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The one word that might best describe the financial services industry in Colorado Springs during 2006 is growth. Opening new locations, launching new products and tapping into new markets seemed to be on just about every bank and credit union’s mind — except for Bank of America, which decided to close its call center in Colorado Springs.
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Directors and officers insurance is an enigma that many business people don’t understand the need for or how it relates to business, said Dave Reitan, an account executive for Six & Geving Insurance. Some directors and officers think they are covered for personal liability under other company insurance policies, but they aren’t.
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Loans from the Small Business Administration enable business owners to have more money to inject into their businesses. That’s because the SBA requires less money as a down payment. SBA loans can be easy to obtain, said a lender who’s spent decades helping small businesses obtain financing.  While one local SBA lender reports his SBA […]
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The Colorado Division of Banking has received high praise for its standards and practices in state banking supervision. The division earned its certificate of accreditation from the Conference of State Bank Supervisors for maintaining the standards and practices in state banking supervision set by the organization’s accreditation program. “This esteemed accreditation reaffirms their commitment to […]
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Second-quarter earnings at Colorado Springs largest locally based banks are a mixed bag. Following the national trend, some are up and some are down. At 5 Star Bank, second-quarter earnings were listed at $7.47 million, an increase over 2009. But it was the sale of assets that most contributed to the increase, said Senior Vice […]
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Pot purveyors in the state and across the country may soon bid farewell to money mattresses and cash-only transactions. Two pieces of legislation introduced in Washington during this session have the potential to allow banks to offer their financial services to medical and recreational marijuana businesses in 23 states and the District of Columbia. Despite […]
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Vectra Bank Colorado hosted its annual Economic Forecast Update breakfast on Wednesday at The Broadmoor’s International Center. As usual, the forum — which featured economists Richard Wobbekind of the University of Colorado Boulder and Phyllis Resnick of the Colorado Futures Center at Colorado State University — attracted more than 200 business owners and community leaders. […]
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Small businesses are waking from a long economic slumber — with renewed energy and plans to expand their stores, their staffs and their inventories.
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Some businesses in Colorado are getting more loans than in recent years under a new Small Business Lending Fund. The U.S. Department of the Treasury released a report this week showing that Colorado banks have increased their small business lending by $79.4 million since receiving capital through the fund. The SBLF was established as part […]
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The Garden of the Gods Bank is changing its name to The Eastern Colorado Bank, effective Oct. 3. In a letter to customers, Megan Harmon, regional president and CEO, said the bank has spent a year preparing for the transition. The name change streamlines customer communication. “In renaming our bank, we are actually going back […]
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