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Fuel Your Business Dreams
MSU Denver’s Small-Business Loan Program
Entrepreneurs from the MSU Denver community now have access to a powerful resource to launch or grow their ventures. Our lending partner, Alpine Bank, is offering small-business loans of up to $50,000 exclusively to eligible MSU Denver students, alumni, faculty, and staff.
About the Program
Housed in the College of Business Center for Entrepreneurship and led by Kemper Family Foundation Endowed Chair Adam Melnick, J.D., the program is designed to break down financial barriers and open doors for founders, especially those from historically underrepresented communities.
Loan proceeds can be used for any good business purpose associated with helping to start, establish, strengthen or grow a small business. Funds can be used for startup or growth. Loans will have a repayment term of 7 years with an interest rate of Prime +4%. Loans will have a 1% origination fee that can be included in the loan amount.
To be considered for the MSU Denver Small Business Loan Program, applicants must be both eligible and credit-worthy. Whether you’re ready to scale your business, purchase equipment, or cover startup costs, this program provides the funding and support you need to take the next step.
Who is eligible for a loan?
MSU Denver-affiliated businesses are eligible to apply for these loans when individuals connected with the University hold 50% or more ownership interest. That includes:
- Students in good academic standing who have completed at least 90 credit hours, with a minimum of 30 credit hours earned at MSU Denver.
- Alumni who received a bachelor’s or master’s degree or an Entrepreneurship certificate or completed the Launch Denver program.
- Faculty and staff members employed at the University for at least one year.
Application Process
The loan application process starts with an intake conversation with Adam Melnick. Please contact him to get the process started. Adam will help you understand what to expect and review your business plan. Then, once you are ready to proceed, you’ll need to complete both the Alpine Bank and MSU Denver Loan Program applications, button links below.
Hear From Adam Melnick
Hear From Adam Melnick J.D., Kemper Family Foundation Endowed Chair
“The intent behind the program is to get capital to people that wouldn’t otherwise qualify for a bank loan. We know individuals from historically underserved communities, particularly people of color, and women are typically approved for loans at a much lower frequency. It could also be for someone with a low credit score or someone who doesn’t yet have sufficient collateral for a traditional loan.”
Recipients can use the loans for most any genuine business expense, such as working capital and equipment purchases, but not for personal expenses. “Paying a consultant to build your website, buying ads, renting equipment or buying initial inventory are all great examples of how to use this type of loan.”
Frequently Asked Questions
Once a project has been successfully approved by Alpine Bank, you will receive a commitment letter outlining the terms and conditions of approval along with a closing checklist detailing any additional items that might need to be collected or reviewed prior to funding your loan request.
How quickly it will take to apply for, close and then fund your loan will depend in large part on how quickly you can provide or secure all the items requested as part of this application. On average, you should anticipate that the process, from delivery of a complete loan package to funding, will take approximately four to six weeks.
There are NO up front, application or closing fees. A 1% loan origination fee will be deducted from loan proceeds only if your application is successfully funded. There may be other minor filing, recording, wire transfer, etc., expenses reimbursed at cost from funding proceeds as well, which will be disclosed in your loan commitment letter but you will NOT have to bring any funds to the loan closing.
MSU Denver Small Business Loan Program loans are fully amortizing seven-year term loans with a fixed interest rate of Prime + 4%.
In addition to the above general requirements, a business must have reasonable ownership equity to invest or “at risk” in the project; and, have used alternative financial resources, including personal assets, before seeking financial assistance. Special considerations apply to some types of businesses and individuals, as follows:
- Loans involving a change in ownership are eligible providing the business benefits from the change. In most cases this benefit should be promoting the sound development of the business or preserving its existence. Loans cannot be made when proceeds would enable a borrower to purchase (a) part of a business in which it has no present interest or (b) part of an interest of a present and continuing owner.
- Applications will not be accepted from firms where a principal is currently incarcerated, on parole, on probation, or, is a defendant in a criminal proceeding.
- Business must be based in Colorado
For additional information, please contact Adam Melnick, J.D., MEM, ACUE, Kemper Family Foundation Endowed Chair
Email Adam Melnick HereMetropolitan State University of Denver
Department of Management Department
Administration Building 530R
Phone Number: 303.605.7208