The Denver, CO House Finance committee recently passed legislation aimed at supporting small businesses in Colorado. The bill, HB24-1453, seeks to make the successful CLIMBER Loan Fund a permanent fixture to better assist small businesses in the state. By the end of 2024, the CLIMBER Program is projected to provide $250 million in loans to Colorado small businesses.
Representative Naquetta Ricks of Aurora emphasized the importance of supporting small businesses in Colorado, referring to them as the backbone of the state’s economy. She highlighted the benefits of the CLIMBER Program, such as providing low-interest loans of up to $500,000 to help small businesses expand, increase wages for employees, open new locations, and more. Ricks sees the program as a way to give small businesses a competitive advantage and ultimately enhance local economies.
The proposed legislation received unanimous approval in a vote of 11-0. Its primary objective is to ensure the continuation of the successful CLIMBER Program, which is scheduled to expire soon. The bill aims to make
