FirstBank Helps Strengthen Northern Colorado Small Businesses Impacted by COVID-19 - Aspen Real Life
FirstBank Helps Strengthen Northern Colorado Small Businesses Impacted by COVID-19

FirstBank Helps Strengthen Northern Colorado Small Businesses Impacted by COVID-19

Bank makes $500,000 contribution to the loan fund after approving hundreds of SBA Payroll Protection loans for small businesses across the region

FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” is helping propel economic recovery forward for communities in the wake of COVID-19 — including small businesses in Northern Colorado. The bank, which recently funded approximately $75 million in SBA Paycheck Protection loans for over 800  Northern Colorado companies, today announced a $500,000 investment in the Larimer County Small Business Recovery Loan Fund.

“Our commitment to serving communities runs deep and we recognize the value that small businesses bring,” said Nicole Staudinger, Northern Colorado Market President, FirstBank “They’re the backbone of our economy, and it’s imperative they’re given the resources needed to thrive.”

The small business loan program, which aims to help stabilize businesses reeling from the pandemic, began in April with lending capital seeded by the Bohemian Foundation, the Fort Collins Area Chamber of Commerce and the city of Fort Collins. FirstBank’s investment will ensure more businesses with fewer than 20 employees can receive up to $50,000 at a low, fixed rate with no origination fee. To date, the loan fund has created or retained over 520 jobs in Northern Colorado.

Collectively, FirstBank has supplied more than $1 billion in SBA funds to nearly 13,000 companies across Colorado, Arizona and California. The bank has also led a number of COVID-related initiatives aimed at supporting small businesses, including a comprehensive customer assistance program and the launch of its Support Local webpage (efirstbank.com/supportlocal), connecting consumers to local restaurants.

In addition to bolstering local businesses, FirstBank donated $75,000 to the Colorado COVID Relief Fund, providing needed resources to communities hardest hit by the outbreak. And they partnered with Community First Foundation and El Pomar Foundation to contribute $150,000 to the Make4Covid movement, a Colorado-based start-up that creates and distributes protective gear for hospital workers using 3-D printing technology.

To learn more about FirstBank’s ongoing response to the COVID-19 pandemic, please visit: www.efirstbankblog.com/coronavirus.

About FirstBank

FirstBank began providing banking services in Colorado in 1963. Today, the bank maintains more than $20 billion in assets and operates over 110 branch locations across Colorado, Arizona and California. FirstBank offers a variety of checking accounts, savings accounts, home equity loans, mortgages, and a full range of commercial banking services, including financing, treasury management and deposit accounts. Since 2000, FirstBank has been recognized as a leader in corporate philanthropy, contributing nearly $70 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com.

Sharing is Caring 💙

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Leave a Comment

Check us Out on Instagram

Check us Out on Facebook

4 days ago

Aspen Real Life
GONZO GALLERY SOLO SHOW: IT NEVER GOT WEIRD ENOUGH FOR ME Meet local artist, Axel Livingston, at the opening reception May 1st, 5:00 pm - 10:00 pm. The exhibit runs from May 1 - 14th. Axel is a 19-year-old artist with a technique that can be described as organized chaos; a combination of mixed media, vibrant colors, lines, and forms are used to depict his layered messaging.Growing up in the Rocky Mountains, Axel has a profound connection with nature and a fascination with the ideals of Gonzo journalism. His work has been influenced by the writings of Hunter S. Thompson and by the art of Ralph Steadman. See more of Axel's work here: www.gonzogallery.com/axel-1The Gonzo Gallery Aspen Strong: Promoting Mental Health in the Roaring Fork Valley Aspen Hope Center Aspen Youth Center Community Health Initiatives The Aspen Times Mountain Town Magazine Aspen Sojourner Magazine Aspen Magazine Aspen Hatter Skye Gallery Opera Gallery Aspen Art Gallery The Aspen Chapel Gallery Pitkin County Sheriff's Office ...
View on Facebook

5 days ago

Aspen Real Life
Want to know what to do during the offseason? Read this Roaring Fork Sotheby's International Realty - Glenwood Springs newsletter shared by Aspen Business Connect member Giovanna O. Kennedy, Realtor. As per the newsletter: Giovanna is a hiking enthusiast and can’t wait to get back on the mountain and regain her Rocky Mountain physical fitness! “You will see me trying different trails at Sunlight Mountain, starting with the easiest ones like the Old 4 Mile Trail.” A woman who wears many hats, Giovanna also enjoys taking leadership in philanthropic opportunities at St. Stephen School. “I am the founder and chair of their annual Gala benefiting St Stephen School, which normally takes place during the winter. However, I am looking at the possibility of having an outside event this late summer instead,” provided that she can execute this event in accordance with COVID-19 guidelines. ...
View on Facebook

6 days ago

Aspen Real Life
Aspen Business Connect brings its members together in many ways in search of collaborations. Here are two of our members from completely different backgrounds ( art and finance) brainstorming on ways to create an exciting event to honor the famous artist Tamara De Lempicka. Equus Management Group Marisa De Lempicka Cecil Hernandez at Christie's Aspen Real Estate Cecil Hernandez#aspenbusinessconnect #bestnetworkbusiness #localbusinessnetwork#aspennetwork#aspenbusiness#aspenreallife #locallove#helpingothers#womenempowerment #tamaradelempicka ...
View on Facebook