Small business in Colorado has someone coming to its rescue: Christopher A. Smith, right, the CEO and founder of new commercial lender CSI Holdings LLC, which is ready to fill a crying demand for small-business-sized loans.
The credit crunch that started in 2008 has lasted for almost two years now, despite a stimulus bill that was partly aimed to goose small-business lending and hiring, and despite later unsuccessful Obama administration attempts to use bank-bailout money to revive small-business operators.
"I saw it first hand," says Smith, who for two years before opening his own firm was executive vice president of Hillcrest Bank's expansion into Colorado. "I couldn't lend," Smith said of those first years when banks refused to let go of bailout money.
On Wednesday, Smith announced the opening of CSI Financial's Denver corporate office at 999 18th St., Suite 2700, Denver, 80202, and at http://www.csifinancial.net/. He said his experience in Colorado, where the firm will kickoff its lending, showed him "there was immense demand out there" for loans that were small enough for small firms to handle.
"That's why we specifically picked the niche," Smith said, reiterating what the company said in a press release: "CSI will differentiate itself by servicing small and lower-middle market companies with financing needs ranging from $50,000 to $1 million."
I know from covering Denver and Colorado's small business community for about 20 years that there are no lenders who market themselves as providers of that sized loan.
But Mr. Smith is coming to the rescue, and he doesn't even have to go through Washington to do it. Maybe you should check him out!
CSI also offers factoring services which is an alternative method of financing your business.