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Small businesses flock to SBA lending seminars
Published December 17, 2008 at 12:05 a.m.
Fledgling entrepreneurs brought their dreams, and seasoned business owners brought their challenges.
In all, about 300 people turned out Tuesday for an event aimed at helping them weather an economic downturn that has made it difficult to find everything from financing to clients.
"We need to assist them because they are the backbone of the economy," said Greg Lopez, district administrator at the U.S. Small Business Administration. "It was very well-attended, and that in itself sends a message."
His office teamed up with Gov. Bill Ritter to sponsor the second of several such forums to be held throughout the state in coming weeks. The head of Clear Creek County economic development was among those on hand to provide information on a variety of financing options available for small businesses.
"We're an alternative lender," said Clear Creek's Peggy Stoksad. "As the banks get stricter, they refer people to us."
The Rocky Mountain News spoke with some of the entrepreneurs who turned out at Denver's Auraria Campus.
'I'm not turning back'
Tracy Zimmer has been working to get his Hutch & Spoon Cafe open at 31st and Larimer streets. Trained as a chef, with years of experience working with restaurants, the 40-year- old moved back to his native Denver to follow his dream of owning his own place.
"So far, I've financed everything on my own," Zimmer said. But he's borrowing against securities since he doesn't own his own home, "and the amount I'm able to utilize keeps shrinking."
Just paying for a gas range and stove with an exhaust hood and other required apparatus added up to $35,000. "Scratch the stove," he said. "I'll be doing sandwiches, salads, coffee. Yummy good food - basic and simple."
For now, he's waiting tables to get by until he can get the restaurant opened - even if it means lining up more financing to make it happen.
"I'm not turning back at this point," said the fourth-generation Coloradan.
'Looking to stay alive'
Mindy Scherr has been in business since 1985, creating promotional advertising products for tourism attractions, companies and other local establishments.
But budget cutbacks at many of her clients have created cash-flow issues for the veteran entrepreneur. Her experience was typical of many of the attendees at Tuesday's event.
"Just like everybody, I'm trying to learn more to solve some problems I've been encountering lately," Scherr said. "I'm looking to stay alive right now."
Some of the ideas she picked up: ways to get access to bidding opportunities at state agencies, for instance. She also learned how she could become certified as a woman-owned business enterprise, an option that would open up more opportunities for signing up new clients.
Building 'green' houses
Jerry Burton and his wife moved to Colorado three months ago to fulfill a longtime goal of living in the Rocky Mountain state.
Their focus: custom-building houses that use solar energy and adhere to "green" environmental standards. After working for others, they started a similar business in Oregon.
But they were ready to make the move here.
"We've been trying to get to Colorado for quite a while," Burton said.
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