A unique, public-private partnership launched on Aug. 1 gives Metropolitan State University of Denver-affiliated business owners access to the financial and business-savvy support they need to make their small businesses successful.
In collaboration with nonprofit small business lender Prairie Rose Development Corp, Alpine Bank and MSU Denver developed a loan program for University-affiliated businesses, providing access to capital and financial products to help them launch or grow.
“This program has been several years in the making,” said Charlie Kercheval, president of Alpine Bank Front Range Business Development and MSU Denver Foundation Board member. “It will allow us to support our community in a way that makes a difference.”
Kercheval says that by leveraging capital provided by the MSU Denver Foundation, they can create loans that drive the economy, giving new businesses a chance to succeed and enabling people to start businesses. The total amount of loans will not exceed $250,000, with individual loans ranging from $5,000-$50,000.
MSU Denver-affiliated businesses are eligible to apply for the loan program when individuals connected with the University hold 50% or more of the ownership interest, including:
Students enrolled at MSU Denver with good academic standing, who have earned at least 90 credit hours, with a minimum of 30 credit hours earned at the University.
Individuals who received a B.A., B.S., master’s degree or Entrepreneurship Certificate from MSU Denver or completed the University’s Launch Denver program.
MSU Denver faculty and staff members employed by the University for at least one year.
The program will live in the College of Business’s Center for Entrepreneurship and be overseen by the first recipient of the Kemper Family Foundation Endowed Chair, David Bechtold, associate professor of Management.
“We appreciate Alpine Bank’s collaborative spirit, highlighting their commitment to the community and small business development,” said Ann Murphy, Ph.D., dean of MSU Denver’s College of Business. “Supporting MSU Denver-associated businesses through this program helps the College and the Center fulfill our mission of access and our vision for supporting economic growth in Colorado.”
Kercheval says working with the University to establish the program has been rewarding and, depending on its level of success, could extend beyond the current two-year trial period.
“The most important piece of this partnership is building relationships between the applicants and the bank,” said Kercheval. “We don’t want to just hand over money and leave people on an island – we want to provide support, to build them into successful business operators.”
About Alpine Bank
Founded in 1973, Alpine Bank, member FDIC, is an independent, employee-owned organization with over $6.2 billion in assets. With headquarters in Glenwood Springs and banking offices across Colorado’s Western Slope, mountains and Front Range, Alpine Bank employs more than 800 people and serves more than 170,000 customers with retail, business, wealth management* and electronic banking services. Through its innovative Loyalty Debit Card program, Alpine Bank supported more than 700 Colorado nonprofits and organizations in 2021 with $1.82 million in grants, sponsorships and gifts; with every customer transaction on an Alpine Bank Loyalty Debit Card, Alpine Bank donates 10 cents to support nonprofits and charities in the categories of Arts, Environment, Education, Community and more. Alpine Banks of Colorado, the holding company for Alpine Bank, trades shares of the Class B Nonvoting Common Stock under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.