Happy New Year, we hope this message finds you well and warm! We are reaching out to our
lending partners with some important program updates and a reminder regarding our Colorado Credit Reserve
(CCR) program, which your organization currently utilizes.
Program Re-Capitalization: CHFA is pleased to announce that we have received permission from the Department of Treasury to reallocate $255,000 of funds from our Colorado Capital Access (CCA) to our CCR program. These funds are available immediately on a “first come, first served” basis.
State Fee Adjustment: We have made an adjustment to the state fee on smaller loans being registered through CCR. Moving forward, the State Fee deposited in your bank’s loan loss reserve accounts will be as follows:
The enhanced fee for registered loans made to Colorado businesses owned by women or minorities and for registered loans to Colorado businesses whose principal place of business is in a
State of Colorado designated Enterprise Zone will remain unchanged at 25% of the initial state fee deposit.
Click here to access the updated CCR program guidelines.
- Loans under $10,000 will receive a fixed fee of 20 percent of the loan
- Loans from $10,000 to $64,999 will receive a fixed fee of $2,000.
- Loans from $65,000 to $249,999 will receive a fixed fee of 3 percent of the
- Loans from $250,000 to $500,000 will receive a fixed fee of $7,500.
Reporting Requirements: Per Section 7(a) of the lender participation agreement, all participating lenders utilizing CCR are
required to provide annual reporting to CHFA. This reporting is due on or before January 30 of each year and should indicate the outstanding
balance and current status of each registered loan as of the previous December 31.
Click here to access the annual reporting form.
Thank you for your participation in CHFA’s Colorado Credit Reserve program and our small business assistance programs. We are grateful to help
you make these loans to support economic development across Colorado, and look forward to continuing this partnership in 2015. Please contact a
CHFA representative if you have any questions regarding these program updates or the reporting requirements.