Once approved, a minority business loan can support a wide range of business needs. From stabilizing operations to investing in growth, here’s how many Colorado business owners are putting their funds to use:

Acquire New Equipment

The right equipment makes all the difference. Whether you’re upgrading machinery, buying new tech, or replacing outdated tools, access to capital allows you to invest in what helps your business run more efficiently—and more profitably.

Cover Payroll

Staffing needs fluctuate overtime, especially during peak seasons or growth spurts. Loan funds can help cover your payroll so you can confidently hire, retain top talent and avoid workforce disruptions when cash flow is tight.

Improvements

You don’t need a permit to freshen up your space. Loan funds can be used for cosmetic upgrades—like painting, new signage, outdoor furniture, or repaving your parking lot. 

These kinds of improvements better your customer experience without requiring major renovations, but keep in mind that Energize Colorado funding cannot be used for construction projects or complex renovations that require permits.

Manage Unexpected Expenses

Emergencies can’t always be planned for—but with funding in place, you don’t have to scramble. A business loan allows you to be flexible so you can handle unexpected costs like last-minute vendor issues, broken equipment, or emergency repairs.

Repairs and Maintenance

Regular upkeep keeps your business running smoothly. Whether it’s routine HVAC servicing, plumbing fixes, or replacing worn fixtures, loan funds can help you stay ahead of costly breakdowns before they disrupt operations.

Marketing Materials

Visibility matters, which is why you can use your loan to invest in branding, signage, digital ads, or a new website. These efforts help you connect with more customers, stand out in your market, and build credibility, especially important for newer businesses.

5 Small Business Financing Options

There’s no one-size-fits-all solution when it comes to business funding. Here are five options available to Colorado’s minority-owned businesses:

1. Traditional Bank Loans

Banks offer structured loan products with competitive interest rates, but a lot of the time they come with strict credit requirements, lengthy approval times, and the need for collateral. These hurdles make it tough for early-stage businesses to qualify, especially those without long credit histories.

2. Loans from Energize Colorado

We offer funding from $5,000 to $150,000 for Colorado-based small businesses specifically designed to help entrepreneurs grow. Our process goes beyond credit scores, and our lending specialists provide support every step of the way. Whether you’re starting fresh or expanding your operations, our loans for minorities offer flexibility, fair terms, and peace of mind.

3. SBA Loans

Backed by the federal government, SBA loans are a reliable option for businesses with established operations. The SBA 7(a) program and microloans are especially popular among minority entrepreneurs. These loans offer low interest rates and long repayment terms—but they require detailed documentation and can take several weeks or months to finalize.

4. Business Line of Credit

Ideal for managing seasonal shifts or day-to-day cash flow needs, a business line of credit gives you ongoing access to funds. You only pay interest on the amount you use, and once repaid, the funds become available again—offering flexibility without long-term commitment.

5. Crowdfunding

Raising capital through your community can be an effective option—especially if your business has a compelling story or a loyal following. Crowdfunding platforms allow you to raise small contributions from many supporters, but success often depends on marketing reach and campaign strategy.