Page 70 - 2014_15CommunityRpt_FlipBookPDF

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2009 CHFA’s and OEDIT’s efforts resulted in
legislation being brought forward during the
chfa helps ease 2009 general session to recapitalize the CCR
credit crunch program with $2.5 million.

The economic meltdown of 2008 resulted CCR has continued to help small businesses
in extreme difficulty for small businesses to succeed, including Motor Diagnostic Systems
obtain financing. To help ease this problem, based in Loveland, Colorado. “Without the
CHFA, along with the Office of Economic CCR, it would’ve been an extreme struggle,
Development and International Trade and we may not have even been able to
(OEDIT), made it a priority to rejuvenate the survive to get us launched off the ground,”
Colorado Credit Reserve (CCR) program. said owner Jack Hamilton. Hamilton said
CCR was a small business lending program business is excellent and 2014 has been an
that operated under CHFA’s management exceptional year, with almost 100 percent
between 1993 and 2006, successfully growth seen over 2013.
leveraging small amounts of public resources
to generate private bank financing and tcap and tcep launch
providing Colorado small businesses access to
capital that might not otherwise be available. With so many people losing their homes to
foreclosure in 2009, demand for safe, decent,
Silvercliff Apartments, a multifamily customer in Silver Cliff affordable rental housing was at an all-time
high. Thankfully, two federal programs,
the Tax Credit Assistance Program (TCAP)