In times of crisis, small businesses find salvation through community banks
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Akron
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Cedaredge
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Colorado Springs
Craig
Delta
Denver
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Eaton
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Akron
Basalt
Brighton
Brush
Cedaredge
Colorado Springs
Craig
Delta
Denver
Durango
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Estes Park
Fort Collins
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Fort Morgan
Glenwood Springs
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Holyoke
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Littleton
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Cherry Creek
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When the pandemic hit, Congress rushed to pass the CARES Act, which included the Paycheck Protection Program (PPP), consisting of more than $600 billion in forgivable loans for businesses with 500 or fewer employees in the first round of funding. Instantly, millions of small-business owners rushed to their bankers to apply for these funds.
Those who used community banks—banks that took the time to know each business and understand their individual needs—had an advantage. Their personal bankers, often also their neighbors, helped these entrepreneurs obtain their much-needed PPP money quickly and efficiently. As a result, many of these small businesses were able to weather the crisis.
"Once we realized that we’d be allowed to open and that we’d actually have customers, we asked about the PPP loans. I called Bank of Colorado and 72 hours later, the money hit our bank account. It was pretty phenomenal. As a result, we were able to hire back our staff immediately and pay for the extra hours to take care of sanitization. That’s keeping jobs and people here. But it also allowed us to open with confidence that we could pay everyone even though our initial reservations were only 15 percent of normal. "
Phoebe Larsson | Owner | Whitewater Rafting LLC
Glenwood Springs, CO
Bankers at Bank of Colorado already knew their customers intimately. Through these relationships, business owners had shared their fears and concerns in the face of any uncertainty that may confront small businesses. The personal bankers knew how to tailor their services and to meet the needs of each individual client. And when they welcomed new clients, they treated them with the same level of personal service as a legacy customer. Bankers walked them through the sometimes-confusing applications for these loans, kept them apprised of the approval status, and chased down updates so that the owners could focus on running their businesses.
Along the way, every small business has had a unique experience. They all fought to save their livelihoods, their families, and their employees. And they banded together as communities.
Here are just a few.
According to the U.S. Small Business Administration
60%
of the first round
Bank of Colorado, a family-owned and locally focused group that was founded in 1978, serves customers throughout the Eastern Plains, the Front Range, the Western Slope and the Four Corners Region. These communities were uplifted by the PPP loans Bank of Colorado was able to supply in the first round of PPP funding.
—20% by banks
with assets less than
$1 billion.
With just over $5.5 billion in assets, Bank of Colorado processed
4,71
1
loans
totaling
$477
million
That money not only kept small businesses open during the crisis, but it also saved an estimated
local jobs.
59,000
In short, these loans kept entire communities afloat—and many never would have come through without the care and guidance of their community banks.
of PPP loans were funded by banks with $5.5 billion or less in total assets
Paycheck Protection Program (PPP)
—more than $600 billion in forgivable loans for businesses with 500 or fewer employees
Community Spotlights
I feel like the community banking model is perfect for
times like these because we have been building a relationship and a rapport with our customers since Day One.
Thea Sonnenberg
Thea
Sonnenberg
Shanke
Engelken
Thea Sonnenberg | Loan Officer, Bank of Colorado | Sterling, CO
When times get tough, there is nothing like sitting down face-to-face or picking up the phone and talking to someone you know and trust. Being a community bank allows us to build relationships with our customers, so we know how to be there for them in good times and bad.
Bank of Colorado’s model is perfect for times like these because we have been building a rapport with our customers since day one. They don’t have to call a third-party phone service because most of them have our cell phone numbers. We get our groceries and gas up our cars at the same places.
During COVID-19, a lot of businesses were forced to close or operate in a reduced capacity. Even those deemed “essential” were hit hard as people were staying home and not spending their money.
We’ve done everything we can to help each one of our customers get by—including making
accommodations for them to sign documents and apply for loans curbside or over the Internet. As a bank, we came together and worked evenings and Sundays without batting an eye.
That speaks to the culture of this bank—we take care of our customers, we take care of each other, and we all buy into the vision of our community bank.
Shanke Engelken
Kim
Sellers
Lance
Swapp
Randy and Susan Stahley
Shanke Engelken | Loan Officer, Bank of Colorado | Sterling, CO
As a community bank, I believe it’s our responsibility to be a pillar of strength for our
community. COVID-19 has had a major impact on the community so, as a bank, we’ve had to look at things differently and work with our customers to get through this.
We know our customers depend on us to be open. That’s why our branch split its staff into two teams—half working in-branch, half working from home. That way, if an in-branch staff member tested positive for COVID-19, that team could quarantine while the at-home team moved in to keep the branch open for our customers.
We’ve also done what we can to support the community outside of our business. Bank of Colorado’s banking model allows us the unique autonomy to be flexible and make quick decisions at the branch level. This enabled us to adapt to the rapidly changing rollout of the CARES Act programs and to be responsive when our customers needed us the most.
Our bank has always done a great job supporting our customers, but even more so during the past several months. That means ordering in food from local restaurants for our staff once or twice a week, buying gift cards from local businesses that were forced to close and using the cards for future giveaways and promotions, and even supporting local schools and their programs, like Future Farmers of America.
All communities are unique. A one-size-fits-all approach to banking doesn’t work for every customer or every community, especially now. That’s where community banks shine. Our customers are our friends, our neighbors, the people we sit next to in church on Sunday. We understand their operations and care about their livelihoods because, ultimately, they’re the people who make our community what it is.
Kim Sellers
Kim Sellers | Owner, The Grill at River City | Sterling, CO
When we moved to town nearly 20 years ago, someone told my husband that Bank of Colorado
was where we needed to bank because they’ll take care of you. We’ve had our personal accounts with them ever since. Three years ago, when we decided to finally follow our dream, start our own business, and open the restaurant, well, there was no question who we’d be banking with.
And it’s a good thing we were with Bank of Colorado when COVID-19 hit. Our sales suddenly decreased while costs for enhancing safety procedures went up. We’d only been in business for a couple years, and there was tremendous anxiety over the huge business loan and the huge debt we still owe. We’d mortgaged our house. Everything we’ve worked for our entire lives is in this business.
Our banker came in right away to defer some of our business loan payments—that relieved a little bit of stress and allowed us to keep things up and running. Then when we asked about the PPP loans we saw on TV, he immediately emailed us the forms, submitted the application, and checked in almost every other day to update us until the money came through.
The things Bank of Colorado did for us saved our business, saved our employees’ jobs, and helped
the entire community. They know our names, our goals, and what we’re trying to achieve.
They are our neighbors.
Lance Swapp
Shanke Engelken
Lance Swapp | Dentist, Northeastern Dental Associates | Sterling, CO
When COVID-19 hit, my business went from seeing nearly 30 patients a day to maybe one a week.
I had to tell my staff of 10 that, at this time, they didn’t have a regular job. With a small staff, they’re more
than just employees. They’re my friends. I worry about them and their families. I promised them I would
try to pay them through the next two weeks.
That’s when Shane Engelken at Bank of Colorado told me about the PPP loans. I hurried and applied for the loan through Shane. We were approved and got our money before my other bank even contacted me to tell me
that they weren’t going to do PPP.
At Bank of Colorado, people are more friendly. They get things done more quickly because their reputation is
on the line. And that personal touch gives me confidence that we’re going to be able to get financing
when we need it.
Thanks to the PPP and Bank of Colorado, I was able to keep my entire staff through these uncertain times. Now business is back to pretty much normal, and we’re working to pay back the loan.
Whenever my front-office person has questions while putting together the paperwork, she calls Bank of Colorado. Someone there walks her through it. I don’t think we would have gotten that service at another bank. At Bank of Colorado, no matter how small your stake is, you don’t feel like just another person.
Randy and Susan
Kim Sellers
Lance Swapp
Randy and Susan Stahley | Owners, Sterling Early Learners
Susan: I’ve always been a teacher. But eight years ago, we had the opportunity to open up a daycare and preschool—something the community really needed. We converted a building and had it up and running in just two months. Bank of Colorado was integral in the process.
Randy: This past March was a very complicated time. They closed the schools, so we had to close our pre-school portion for six weeks. During that time, we fretted over how we were going to maintain our staff. How do we hold it all together? That’s when we got in touch with Thea Sonnenberg at Bank of Colorado.
Susan: The community had been burnt before on a flood disaster. A lot of banks were hesitant to get involved in this sort of disaster relief. That wasn’t true of Bank of Colorado. Thanks to Thea, we were approved for PPP in maybe 10 days. It allowed us to pay our staff and take care of the overhead expenses—water, electricity, and rent—that don’t just go away.
We’re just now getting back to our usual summer levels. We have a tremendous waiting list for the fall. So many daycares have closed due to COVID-19.
Randy: Parents are being extremely supportive. Our daycare is full. But if they close the schools, that means preschools close. And there we go again—our potential income goes down. What happens to our staff? Every day there’s a different discussion. There’s a high degree of anxiety and uncertainty.
Susan: It’s nice to be able to walk into a bank and know they’ll do whatever they can to help. So many people forget how a rural community works. You know people by name. That’s important out here.
Thea was exceptional. She spent many hours outside of the workday, so we were always at the top of her list. Thanks to Thea, we were approved for PPP in maybe 10 days. It allowed us to pay our staff and take care of the overhead expenses. It’s nice to be able to walk into a bank and know they’ll do whatever they can to help. So many people forget how a rural community works. You know people by name. That’s important out here.
Sue Wagner | Sr. Vice President of Business Banking, Bank of Colorado
Fort Collins North
The pandemic has forced everyone to consider changes in how we do business. But at Bank of
Colorado, the values behind our business have never been stronger. Flexibility is the name of
the game, and when management called the staff to action, we all responded enthusiastically
to help our community members—we felt like we made a difference.
For instance, to maintain the reliability and stability of relationships with customers, we have
held meetings and conducted closings curbside, expanded online document-signing options,
and worked to normalize social distancing. And working remotely has actually made our
bankers more accessible and responsive to customers outside normal business hours.
As an essential business, our customers need to know that their money is safe, that we are
available and will be there when they need us, and that we are working together because their
success is important to all of us and our community.
Steve Taylor
Steve Taylor | Restaurateur, President of Hot Corner Concepts
Restaurants were among the first places to shut down. We closed our operations in mid-March
until June, laying off 200 people. During those initial weeks, I was busy shifting operations.
Meanwhile, my Bank of Colorado banker was in contact with me daily, updating me with the
ever-shifting process of our application for PPP. He offered expert advice related to other relief
programs that he thought might be a fit for us and personally stewarded our applications
through the process. I was relieved not to have the burden of continually updating myself on
the process. And I was even more relieved when our loan came through in a timely fashion to
help us bring our furloughed staff back to work.
As a company, we are very involved in our community. We support local nonprofits. Our people
serve on boards and commissions that serve Fort Collins. So, it’s always been important to me
that I bank with an organization that shares those values. I also wanted a bank that was familiar
with my company and the unique challenges related to the restaurant business. Bank of
Colorado fills both of those requirements.
Sue Wagner
Rex Smithgall
David Thomas
Steve Taylor
David Thomas | Executive Director, Aresenal Colorado
We’re a nonprofit youth soccer club based in Fort Collins. When COVID-19 hit, our operations,
like all sports, came to an abrupt halt. No longer able to provide our typical soccer
opportunities, we had to find creative ways to connect with our members.
Bank of Colorado was in the same position. For safety, their staff worked to minimize the need
for face-to-face interaction while still making it clear that they were here to support what we
do. We learned about so many great online banking options and resources that they offer. And
our bankers were constantly in touch via phone and email to help us through applying for PPP
and all our other banking needs. They’ve been so supportive in many ways other than just a
simple banking relationship. They seem to really care about what we do.
Rex Smithgall
David
Thomas
Rex
Smithgall
The pandemic has forced everyone to consider changes in how we do business. Flexibility is the name of the game, and when management called the staff to action, we all responded enthusiastically—we felt like we made a difference
Community Spotlights
Steve
Taylor
Sue
Wagner
Rex Smithgall | Sr. Vice President, Bank of Colorado | Downtown Fort Collins
There is nothing more comforting than looking to your banker and feeling confident in their
means to assist you. A bank’s true worth is demonstrated when times get tough.
A community bank is nimble, flexible, and communicative to help our customers weather the economic storm.
For instance, Bank of Colorado streamlined processes and implemented technology to help our
team be more efficient. They enlisted all loan officers to join forces and devise a plan to
efficiently process PPP loans. From the moment we started receiving applications that first
Friday, teams were assigned to each client and stayed over the weekend to process requests.
Customers had approvals as early as that Saturday, and our teams worked feverishly the
following week to make sure that every customer was informed, updated, and ultimately,
taken care of.
Kayla Opperman
Michael Dulberg | Fractional CFO, Bridgepoint LLC
I am a contract CFO for several different companies, so I have several different
clients—everything from a software manufacturer to a nonprofit. And they were all looking for help through PPP loans.
Typically, I would work with whatever bank each company had been using. But sometime during the first round of PPP loans, we made the decision to go with a local, community bank.
I had actually never used Bank of Colorado before. But I had met one of their bankers through volunteering with a community organization. I expressed the importance of working with a
bank that is timely, flexible, responsive, and understanding of their client’s needs. He said that he had heard similar comments made from others that had reached out to Bank of Colorado while trying to secure a PPP loan. He told me that if any of my clients were looking for a reliable bank and might be interested in working with him—whether they banked with Bank of Colorado or not—he was confident he could get their applications moving along.
I went back to my clients and told them about Bank of Colorado. Several of them agreed, and Bank of Colorado turned around their applications in a matter of two or three days.
The banker never asked me or any of my clients for a promise to bring all of their business to Bank of Colorado. There were no commitments, no strings attached. For a business, changing banks is a lot of work. But one of my clients did decide to switch. They appreciated Bank of Colorado understanding them on a more personal level.
Kayla Opperman | Owner, Snapology of Golden-Littleton | Denver, CO
Our business teaches children through hands-on, interactive play, so you can imagine how difficult it is to do that during a pandemic. We had to cancel our after-school programs and reimburse a lot of schools and families. We also had to cancel the camps we had scheduled during Spring Break. We were already a new and growing business, so we had to pivot quickly to make up that lost revenue. We set up private virtual classes with schools and groups of children and created daily LEGO building challenges on social media to keep children busy and entertained while their parents worked from home. We offered new customers a 125% refund if any in-person sessions were canceled.
Still, we would not have survived without the PPP loan we got through Bank of Colorado. They were extremely quick and on top of everything and always happy to help. That money paid my staff and the extra hands that allowed us to transition our business so swiftly.
I’ve always thought of myself as an independent person, but it was wonderful to see how we all came together during this trying time. It reminded me why I do what I do. I love giving back to my community and being there for the next generation. Working with Bank of Colorado helped me see how much we really do rely on one another. Receiving the PPP loan from Bank of Colorado not only helped me keep my staff paid, but it also allowed me to create new jobs as we were pivoting. I am only one business owner, so overall this made a huge impact on our community during a rough time.
Michael Dulberg
Gary Stone
Gary Stone | Founder, Firestone CFO | Denver, CO
We provide CFO consulting services and financial expertise, so we have many opportunities to
work with a lot of different banks. Larger banks have footprints everywhere, and if I’m working
with a giant company, that might be what I want to do. But there are advantages to working
with a community bank like Bank of Colorado.
It’s like having a suit custom made instead of buying one off the rack. No one is inventing new
ways to cash checks. But being able to call someone up and get a personal banker who has taken the time to understand your situation can be huge. For example, after the CARES Act passed, we were doing business with a client who was working with a larger bank. Along the way, we moved them to Bank of Colorado, and the process of securing a PPP loan went so smoothly that we recommended them to a couple of other clients.
The other advantage with community banking is in keeping your business local. Bank of Colorado knows the local landscape and has a great network of other clients—your suppliers might be their customers too. It really gives you a more holistic view of what’s going on in your community.
Kayla Opperman
Alisa Wonnacott
Diana Goldberg
Gary Stone
Alisa Wonnacott | Executive Director, The Association for Community Living (ACL) Boulder and Broomfield Counties
We’re a civil and human rights organization. We support people with intellectual and
developmental disabilities, whether that’s kids struggling in school or adults looking for housing options. There were people at risk who needed our help right now, and we couldn’t do what we do because we didn’t have a bank that we could count on.
Then I remembered a previous experience applying for a loan through Bank of Colorado. We didn’t end up taking the loan, but the personal touch of the experience had stuck with me. I called a contact there, and they immediately said, “Yes, we can help you.” They sent us the PPP forms and walked us through the process. They called me, politely making sure I received everything and was always kept apprised of the situation. Within days, we had been approved for the maximum amount.
The experience reminded me how important community banking is—not just for businesses, but also for the people ACL serves. One of the difficulties of living with developmental disabilities is that they don’t have access to online banking or the skills to navigate it.
They have to be able to talk to someone at the bank or they can’t effectively manage their own finances.
As for ACL itself, we’ve moved all our banking to Bank of Colorado. I always want to be in a position where if my business desperately needs help, I’ll have a bank that I can count on.
Diana Goldberg | Executive Director, SunGate Kids | Greenwood Village, CO
I’ve worked with any number of banks. But I’ve never worked with one like Bank of Colorado,
where every single person I interact with is receptive and helpful. When they talk about
customer service, it’s not just talk.
I was in a panic. We are an advocacy center for children who are victims of sexual abuse. We
conduct forensic interviews and then work with local law enforcement and child and family
services to help them get therapy and other resources. And on March 15, we closed our doors
to all but the most urgent emergencies. We went from 55 cases a month to just three between
March and May 7. We also lost close to $400,000 in fundraisers that were canceled. I was
worried about our 12 employees. I was worried about the kids.
The federal government was coming out saying they were going to help, but the particulars and
procedures seemed to change daily. It was almost impossible to get anyone to respond to us or
give us a straight answer—except Bank of Colorado. They never once treated me like my
questions were bothersome. They worked day and night to get our PPP application processed
and promptly approved. Thanks to that money, we were able to keep our doors open and keep
people working. It literally saved us.
Alisa Wonnacott
Diane
Goldberg
Alisa
Wonnacott
I’ve worked with any number of banks. But I’ve never worked with one like Bank of Colorado, where every single person I interact with is receptive and helpful. When they talk about
customer service, it’s not just talk.
Community Spotlights
Gary
Stone
Kayla
Opperman
Michael
Dulberg
He delivered.
Phoebe Larsson | Owner, Whitewater Rafting LLC | Glenwood Springs, CO
We’ve owned Whitewater rafting since 2012. When you’re in the outdoors industry in
Colorado, you’re always on the lookout for what we call black swan events. These are the
disasters you don’t see coming. Droughts, floods, fires, whatever might be just beyond the
horizon. But COVID-19 and the ensuing economic downturn were a real shock.
That’s a big cloud. Every business faced uncertainty. We normally don’t open until May 1, but
out of caution, we waited until June 12. We didn’t even know we’d have permission from the
government to open until May 26. One of our first calls was to Bank of Colorado. Because we
are a seasonal business, all our loans and mortgage are set up on a seasonal basis. Bank of
Colorado immediately put a 90-day freeze period on our loans, even when they themselves
didn’t have any certainty about what was going to happen.
Once we realized that we’d be allowed to open and that we’d actually have customers, we
asked about the PPP loans. I called Bank of Colorado and 72 hours later, the money hit our bank
account. It was pretty phenomenal. As a result, we were able to hire our staff back immediately
and pay for the extra hours to take care of sanitization. That’s keeping jobs and people here.
But it also allowed us to open with the confidence that we could pay everyone even though our
initial reservations were only 15 percent of normal.
Business has picked up. Rafting is a safe outlet for people who wanted to get outside after
being cooped up for months. No matter what happens, we’re confident that Bank of Colorado
is just one phone call away. Having a local bank makes all the difference.
Phoebe
Larsson
One of our first calls was to Bank of Colorado. Because we are a seasonal business, all our loans and mortgage are set up on a seasonal basis. Bank of Colorado immediately put a 90-day freeze period on our loans, even when they themselves didn’t have any certainty about what was going to happen.
Community Spotlights
Ronnie Wilson | Owner, Louie Louie’s Piano Bar
We’re based in Texas, with locations in Dallas and Lubbock. We were about to start building our third bar in Colorado Springs when COVID-19 shut us down. My bank back in Texas, who we’ve been banking with for 12 years, didn’t get us anybody to help us apply for PPP. There was no one at that bank whom I would recognize or who would know me by name. On the other hand, I had only been working with Bank of Colorado since the previous fall, and those guys took it upon themselves to get us that loan. It took a couple weeks, but they communicated with me the entire time. Finally, the loan came through. It kept all 75 of my employees paid. If we survive this thing, it’ll be because of Bank of Colorado.
Heather Sams
Collyn Florendo | Market President, Bank of Colorado | Colorado Springs
Since COVID-19 hit, we’ve tried to be more flexible than ever. Customers and employees are
dealing with so much uncertainty in all facets of their lives. We’ve worked to adapt to all of the
challenges and unusual circumstances everyone is experiencing—loss of jobs and confusion
about the virus. Many people are living in fear.
Now more than ever, it’s important that we understand our customers’ needs as they navigate
these turbulent waters. And as a longstanding community bank, understanding the needs of
our clients has always been the fabric of our work. During my nearly 40 years with Bank of
Colorado, I’ve consistently witnessed common sense, compassion, flexibility, and a desire to
find a way to help. And during this crisis, I’m proud that our branch has processed 260 PPP
loans. If you assume each business has an average of six employees, that’s over 1,500 families
we’ve assisted.
Heather Sams
Collyn
Florendo
Heather
Sams
Since COVID-19 hit, we’ve tried to be more flexible than ever. Customers and employees are dealing with so much uncertainty in all facets of their lives.
Community Spotlights
Ronnie
Wilson
Collyn Florendo
Ronnie Wilson
Heather Sams | Owner and Photographer, Spoiled Rotten Photography
I photograph preschool children at their schools, and spring is my busy season—but that stopped abruptly in March when COVID-19 appeared. Bank of Colorado helped me apply and ultimately secure a PPP loan for my staff. Even though I’m a small portrait studio, the bank makes me feel valued and important—I’m not a number.
Community banking is so important, especially right now. I dread calling the 1-800 numbers for information and help. I never have to worry about that with my bank.
Jim Elder
Kim Volk | Owner, Camp Robber Restaurant and Catering
Our catering is down 91 percent since all large events have been canceled or restricted. When we closed the dining room and went to take-out only, labor took 125 percent of our revenue. We’ve since opened the dining room, and that ratio has improved, but Bank of Colorado was instrumental in securing our PPP funds to help us through those trying times.
While applying for PPP, I had many questions for the Bank of Colorado team, as I tried to understand all the ever-changing rules and parameters, and the team came to our aid quickly. Everyone was so professional and helpful.
They showed a true caring for our business to succeed because they watched us come to work every day to make food and create jobs for our community. Their community. They know how hard we are working to keep our businesses going. They do all they can to help by providing financing and information. We’re still open because of Bank of Colorado.
Jim Elder | CFO, ElderAdo Financial | Montrose, CO
As a financial advisor, I saw firsthand the nervousness about the economy. There were a lot of
emotions with clients and employees. It was nice to know I had quick access to our own
accounts through online banking with Bank of Colorado. And it was nice to have access to my
banker, who gave personalized attention to help alleviate my own worries.
Kim Volk
Jim
Elder
Kim
Volk
I believe community banking is important because community banks understand the businesses in their community. They know what those businesses are providing in terms of jobs.
Community Spotlights
Randy Menapace | Office Manager, Rico Auto Complex | Gallup, NM
The pandemic has meant fewer in-office transactions and more business done over the phone with credit cards. That leads to inventory constraints and cash flow problems. The bank helped us get the PPP loan to take some of the pressure off. They’ve also maintained a quick daily deposit/posting turnaround time and an easy and efficient change pickup process, despite being short-staffed due to COVID-19. Most of all, they’ve been responsive and accessible for any questions or requests we might have. We call them, and we get answers.
Joe Lloyd
Joe Lloyd | Business Owner | Durango, CO
The people at Bank of Colorado know me personally, and they know my business, as well as
many other businesses and owners in our community. They know that Durango relies on
tourism, and they understand that if the industry declines or restrictions are put in place to
prevent travel into our town, we’ll all suffer. The bank will see and feel the same impact.
During the pandemic, they called frequently to check in and see if they could help in any way. I
not only got to talk with my personal banker, but I also got to talk to the people who were
making most of the decisions. They allowed our store managers to call ahead and make their
daily deposits in person at the branch if they were unable to use the drive thru. They bought
gift cards from local businesses and handed them out to customers in need. They promoted a
Nurses Day as well as supporting all healthcare workers and emergency service personnel. And
of course they helped a lot of us secure our PPP loans, which literally saved our businesses.
Randy Menapace
Jack Llewellyn
Eric Hittle
Joe Lloyd
Jack Llewellyn | Executive Director, Durango Chamber of Commerce
Durango, CO
Bank of Colorado has been an incredible help both to our organization and to the community as
a whole. They provided thermometers and masks to area businesses. They immediately
stepped up and helped businesses with PPP funding applications and approvals. The staff
regularly offered advice and assistance with reopening and other issues, even those outside the
usual banking practices. And they were the first to pitch in on business scholarships and funding
our registration fees for the Chamber’s virtual training sessions.
It’s nothing new. Bank of Colorado has always been a boon to the community. Their employees
serve on local boards, coach youth sports teams, and are active in nonprofit organizations. And
they don’t do it for recognition or bragging rights—they do it because they care.
That’s really shone through during the pandemic. They practice public health recommendations, including mask requirements, to ensure public safety. They help with online banking and safe personal assistance at the branch. And they are always available to offer solutions to financial and personal issues that are adding so much stress right now. It can be such a relief when you have a relationship with your bankers and they truly care.
Eric Hittle | Owner, ECHO IT Consulting | Pagosa Springs, CO
We changed our business banking to Bank of Colorado about a year ago, after realizing how
much we value a bank with a strong community focus. We believe in the importance of having
a local bank president who understands both the local economy and individuals who bank
there. I cannot overstate that.
Having a local banker who knows us and is able to respond quickly to our business needs is
crucial. It helps us avoid being unduly affected by short-term cash shortages and economic
disruptions. When COVID-19 hit, Pennie DeClark, the branch president, and her team here in
Pagosa Springs helped us fill out the PPP application and get it processed quickly so that we
were among the first to get approved. That money helped us establish some certainty in payroll
and enabled us to tell our employees that their jobs were secure while we navigate the changes
the pandemic might bring to our business.
Jack Llewellyn
Eric
Hittle
Jack
Llewellyn
The pandemic has forced everyone to consider changes in how we do business. Flexibility is the name of the game, and when management called the staff to action, we all responded enthusiastically—we felt like we made a difference
Community Spotlights
Joe
Lloyd
Randy
Menapace
Amanda McCain | Dan Meyer
Jeff Frankin | John Schmidt
Gordon Gallagher | Jacob Caddas
Amanda McCain | Dan Meyer
David Nelson | David Scott
Stacey Wilson
Gordon Gallagher | Jacob Caddas
Stacy Wilson | General Manager, Crown Supply Company
We got hit on two fronts. Our oil supply business got double-whammied when oil prices tanked
and the economy shut down. Right before the pandemic, we had 68 people working in the field.
Then it went to zero. We had to tell our people that they were getting laid off.
We’ve been banking with Bank of Colorado since Day One. My father-in-law started Crown
Supply 19 years ago, and he had a mentality of keeping your money local and we’re glad we
have. I could talk all day about the things Bank of Colorado has done for us.
With the pandemic, our banker was on top of things from the start. She immediately reached
out and let us know that she was available to us. She also told us about the PPP loans as soon as
the CARES Act passed. We got her the necessary paperwork, and within days, the money was in
our account.
In fact, it was so quick, we could tell our employees that they weren’t laid off after all. It was
such a good feeling, because before that, we didn’t know if we’d ever be able to bring them
back. The fact that our bank believed in us―and that money hitting our account―is the reason
our doors are still open and our people are still working.
David Nelson | David Scott
With the pandemic, our banker was on top of things from the start. She immediately reached out and let us know that she was available to us.
Community Spotlights
Jeff Franklin
John Schmidt
Gordon Gallagher
Jacob Caddas
Stacy Wilson
Amanda McCain
Dan Meyer
David Nelson
David Scott
David Nelson | Loan Office, Bank of Colorado | Grand Junction, CO
People are looking for a bank that will listen and help when and where they can. They want to know that they, and their money, are both well taken care of. The personal touch a community bank provides is unmatched and I believe it’s even more important during trying times.
Bank of Colorado has created a safe environment for both the customers and the employees. If a customer is in need of a personal visit, we never turn them away. Instead, we find ways to accommodate their needs in the safest way possible for everyone involved.
David Scott | Physician, Allergy & Asthma Center of Western Colorado | Grand Junction, CO
For our business, COVID-19 brought unpredictability, decreased revenue, increased liability, and a whole lot of stress. But Bank of Colorado and John Schmidt were very supportive in helping me obtain a PPP loan.
Bank of Colorado proved we’re all in this together by supporting local businesses and bringing more transparency and trust, which is so important, especially in tough times.
Gordon P. Gallagher | Attorney at Law | Grand Junction, CO
I’d like to extend my sincere thanks to David Nelson and the entire Bank of Colorado team that was able to process our PPP loan. It was the difference between laying off staff and keeping them, between being able to pay critical bills or not. In a time when so many in the U.S. were unable to have their loans processed in a timely fashion, our community relationship with Bank of Colorado and the hard work of its employees made all the difference. My loan came through days before the program ran out of money, saving the jobs of my staff.
I look forward to many more years of working with Bank of Colorado.
Jacon Caddas | Attorney, Caddas, Forsgren & Lee, PLLC Attorneys at Law
Grand Junction, CO
I’m sure I am not alone in my experience with Bank of Colorado and their remarkable service in granting us PPP money. Without Bank of Colorado, we would not have gotten our PPP loans and likely would have closed.
Amanda McCain | Senior Vice President of Lending, Bank of Colorado
Grand Junction, CO
Bank of Colorado has always been grounded in community. We’ve always offered the best customer service, because helping local businesses and families is at the heart of our work. COVID-19 just gave us more opportunities to share that with our customers and the larger community.
While our branch access might be limited a bit by the pandemic, we are still operating as usual. We’re still providing hands-on service (with appropriate social distancing, of course). Customers can still call and speak to a live person. I think that being flexible and continuing to provide comfortable, convenient services is what sets us apart.
Dan Meyer | Commercial Lending, Bank of Colorado | Grand Junction, CO
When COVID-19 came, we amplified our strengths. We were able to quickly adapt to our customers’ needs and wants and get them the products and services they count on in a safe and efficient manner. We spent evenings and weekends working to get PPP loans processed and approved.
In times of stress, customers need service and responsiveness more than ever. And we understand that, because with our smaller organization, the sense of community just runs deeper.
Jeff Franklin | Market President, Bank of Colorado | Grand Junction, CO
Thanks to great communication from the top down, Bank of Colorado stepped up during these times to help customers with everything from PPP loans to assisting them with their financial needs, especially when it was difficult for patrons to physically come to the bank.
We came together as a team to handle the changes and challenges coming our way. Our staff worked weekends and nights to get all those PPP applications processed in a timely manner. And, perhaps most importantly, we did a great job of staying calm to help customers.
John Schmidt | Senior Vice President, Commercial Lending, Bank of Colorado
Grand Junction, CO
Many small businesses would have been closed for good if not for the community banks like Bank of Colorado that stepped up and brought the CARES Act to our neighbors.
Our lenders and lending staff processed more than 250 PPP loans, totaling more than $20 million in the Grand Junction community alone.
We’ve been commended by numerous community leaders, customers, and their friends and family.
They all know how hard we worked to keep money flowing here at home.
"We closed for six weeks. During that time, we fretted over how we were going to maintain our staff. How do we hold it all together? That’s when we heard about PPP. That’s when we got in touch with Thea Sonnenberg at Bank of Colorado.
Randy and Susan Stahley | Owner | Sterling Early Learners
Sterling, CO
Thea was exceptional. She had always been a great communicator. But when this happened, she was very pregnant. But she must have spent many hours out of the workday, in the evenings, and on weekends to get this going. It seemed like we were always at the top of her list."
"With a small staff, they’re more than just employees. They’re my friends. I worry about them and their families and what they’re going to do during this time. I promised them I would try to pay them through the next two weeks.
That’s when a friend, Shane Engelken at Bank of Colorado, told me about PPP. Even though I had always done all of my banking with Wells Fargo, I hurried and applied for the loan through Shane. We were approved and got our money before Wells Fargo even contacted me to tell me that they weren’t going to do PPP for me and that I should probably find someone else. That illustrated to me how valued I was as their customer."
Lance Swapp | Dentist | Northeastern Dental Associates
Sterling, CO
There are many stories to tell and individual successes to celebrate.
Boulder
One of those community banks was Bank of Colorado…
Legal/Privacy
Randy Menapace Office Manager,
Rico Auto Complex Gallup, NM
The pandemic has meant fewer in-office transactions and more business done over the phone with credit cards. That leads to inventory constraints and cash flow problems. The bank helped us get the PPP loan to take some of the pressure off. They’ve also maintained a quick daily deposit/posting turnaround time and an easy and efficient change pickup process, despite being short-staffed due to COVID-19. Most of all, they’ve been responsive and accessible for any questions or requests we might have. We call them, and we get answers.
Joe Lloyd | Business Owner | Durango, CO
The people at Bank of Colorado know me personally, and they know my business, as well as
many other businesses and owners in our community. They know that Durango relies on
tourism, and they understand that if the industry declines or restrictions are put in place to
prevent travel into our town, we’ll all suffer. The bank will see and feel the same impact.
During the pandemic, they called frequently to check in and see if they could help in any way. I
not only got to talk with my personal banker, but I also got to talk to the people who were
making most of the decisions. They allowed our store managers to call ahead and make their
daily deposits in person at the branch if they were unable to use the drive thru. They bought
gift cards from local businesses and handed them out to customers in need. They promoted a
Nurses Day as well as supporting all healthcare workers and emergency service personnel. And
of course they helped a lot of us secure our PPP loans, which literally saved our businesses.
Joe Lloyd
Jack Llewellyn Executive Director, Durango Chamber of Commerce
Durango, CO
Bank of Colorado has been an incredible help both to our organization and to the community as a whole. They provided thermometers and masks to area businesses. They immediately stepped up and helped businesses with PPP funding applications and approvals. The staff regularly offered advice and assistance with reopening and other issues, even those outside the usual banking practices. And they were the first to pitch in on business scholarships and funding our registration fees for the Chamber’s virtual training sessions.
It’s nothing new. Bank of Colorado has always been a boon to the community. Their employees serve on local boards, coach youth sports teams, and are active in nonprofit organizations. And they don’t do it for recognition or bragging rights—they do it because they care.
That’s really shone through during the pandemic. They practice public health recommendations, including mask requirements, to ensure public safety. They help with online banking and safe personal assistance at the branch. And they are always available to offer solutions to financial and personal issues that are adding so much stress right now. It can be such a relief when you have a relationship with your bankers and they truly care.
Eric Hittle | Owner, ECHO IT Consulting Pagosa Springs, CO
We changed our business banking to Bank of Colorado about a year ago, after realizing how
much we value a bank with a strong community focus. We believe in the importance of having
a local bank president who understands both the local economy and individuals who bank
there. I cannot overstate that.
Having a local banker who knows us and is able to respond quickly to our business needs is
crucial. It helps us avoid being unduly affected by short-term cash shortages and economic
disruptions. When COVID-19 hit, Pennie DeClark, the branch president, and her team here in
Pagosa Springs helped us fill out the PPP application and get it processed quickly so that we
were among the first to get approved. That money helped us establish some certainty in payroll
and enabled us to tell our employees that their jobs were secure while we navigate the changes
the pandemic might bring to our business.
Eric
Hittle
Joe
Lloyd
The pandemic has forced everyone to consider changes in how we do business. Flexibility is the name of the game, and when management called the staff to action, we all responded enthusiastically—we felt like we made a difference.
Community Spotlights
Jack
Llewellyn
Randy
Menapace
Eric
Hittle
Jack
Llewellyn
The pandemic has forced everyone to consider changes in how we do business. Flexibility is the name of the game, and when management called the staff to action, we all responded enthusiastically—we felt like we made a difference
Community Spotlights
Joe
Lloyd
Randy
Menapace
Kim Volk | Owner, Camp Robber Restaurant and Catering
Our catering is down 91 percent since all large events have been canceled or restricted. When we closed the dining room and went to take-out only, labor took 125 percent of our revenue. We’ve since opened the dining room, and that ratio has improved, but Bank of Colorado was instrumental in securing our PPP funds to help us through those trying times.
While applying for PPP, I had many questions for the Bank of Colorado team, as I tried to understand all the ever-changing rules and parameters, and the team came to our aid quickly. Everyone was so professional and helpful.
They showed a true caring for our business to succeed because they watched us come to work every day to make food and create jobs for our community. Their community. They know how hard we are working to keep our businesses going. They do all they can to help by providing financing and information. We’re still open because of Bank of Colorado.
Jim Elder | CFO, ElderAdo Financial Montrose, CO
As a financial advisor, I saw firsthand the nervousness about the economy. There were a lot of emotions with clients and employees. It was nice to know I had quick access to our own
accounts through online banking with Bank of Colorado. And it was nice to have access to my
banker, who gave personalized attention to help alleviate my own worries.
Kim Volk
Jim Elder
Jim Elder
Kim
Volk
I believe community banking is important because community banks understand the businesses in their community. They know what those businesses are providing in terms of jobs.
Community Spotlights
Jeff Franklin | Market President, Bank of Colorado | Grand Junction, CO
Thanks to great communication from the top down, Bank of Colorado stepped up during these times to help customers with everything from PPP loans to assisting them with their financial needs, especially when it was difficult for patrons to physically come to the bank.
We came together as a team to handle the changes and challenges coming our way. Our staff worked weekends and nights to get all those PPP applications processed in a timely manner. And, perhaps most importantly, we did a great job of staying calm to help customers.
John Schmidt | Senior Vice President, Commercial Lending, Bank of Colorado
Grand Junction, CO
Many small businesses would have been closed for good if not for the community banks like Bank of Colorado that stepped up and brought the CARES Act to our neighbors.
Our lenders and lending staff processed more than 250 PPP loans, totaling more than $20 million in the Grand Junction community alone.
We’ve been commended by numerous community leaders, customers, and their friends and family.
They all know how hard we worked to keep money flowing here at home.
Amanda McCain | Senior Vice President of Lending, Bank of Colorado
Grand Junction, CO
Bank of Colorado has always been grounded in community. We’ve always offered the best customer service, because helping local businesses and families is at the heart of our work. COVID-19 just gave us more opportunities to share that with our customers and the larger community.
While our branch access might be limited a bit by the pandemic, we are still operating as usual. We’re still providing hands-on service (with appropriate social distancing, of course). Customers can still call and speak to a live person. I think that being flexible and continuing to provide comfortable, convenient services is what sets us apart.
Dan Meyer Commercial Lending, Bank of Colorado Grand Junction, CO
When COVID-19 came, we amplified our strengths. We were able to quickly adapt to our customers’ needs and wants and get them the products and services they count on in a safe and efficient manner. We spent evenings and weekends working to get PPP loans processed and approved.
In times of stress, customers need service and responsiveness more than ever. And we understand that, because with our smaller organization, the sense of community just runs deeper.
Amanda McCain | Dan Meyer
Gordon P. Gallagher | Attorney at Law Grand Junction, CO
I’d like to extend my sincere thanks to David Nelson and the entire Bank of Colorado team that was able to process our PPP loan. It was the difference between laying off staff and keeping them, between being able to pay critical bills or not. In a time when so many in the U.S. were unable to have their loans processed in a timely fashion, our community relationship with Bank of Colorado and the hard work of its employees made all the difference. My loan came through days before the program ran out of money, saving the jobs of my staff.
I look forward to many more years of working with Bank of Colorado.
Jacon Caddas | Attorney, Caddas, Forsgren & Lee, PLLC Attorneys at Law
Grand Junction, CO
I’m sure I am not alone in my experience with Bank of Colorado and their remarkable service in granting us PPP money. Without Bank of Colorado, we would not have gotten our PPP loans and likely would have closed.
David Nelson
Loan Office, Bank of Colorado | Grand Junction, CO
People are looking for a bank that will listen and help when and where they can. They want to know that they, and their money, are both well taken care of. The personal touch a community bank provides is unmatched and I believe it’s even more important during trying times.
Bank of Colorado has created a safe environment for both the customers and the employees. If a customer is in need of a personal visit, we never turn them away. Instead, we find ways to accommodate their needs in the safest way possible for everyone involved.
David Scott Physician Allergy & Asthma
Center of Western Colorado
Grand Junction, CO
For our business, COVID-19 brought unpredictability, decreased revenue, increased liability, and a whole lot of stress. But Bank of Colorado and John Schmidt were very supportive in helping me obtain a PPP loan.
Bank of Colorado proved we’re all in this together by supporting local businesses and bringing more transparency and trust, which is so important, especially in tough times.
Stacy Wilson General Manager, Crown Supply Company
We got hit on two fronts. Our oil supply business got double-whammied when oil prices tanked and the economy shut down. Right before the pandemic, we had 68 people working in the field. Then it went to zero. We had to tell our people that they were getting laid off.
We’ve been banking with Bank of Colorado since Day One. My father-in-law started Crown Supply 19 years ago, and he had a mentality of keeping your money local and we’re glad we have. I could talk all day about the things Bank of Colorado has done for us.
With the pandemic, our banker was on top of things from the start. She immediately reached out and let us know that she was available to us. She also told us about the PPP loans as soon as the CARES Act passed. We got her the necessary paperwork, and within days, the money was in our account.
In fact, it was so quick, we could tell our employees that they weren’t laid off after all. It was such a good feeling, because before that, we didn’t know if we’d ever be able to bring them back. The fact that our bank believed in us―and that money hitting our account―is the reason our doors are still open and our people are still working.
David Nelson | David Scott
Stacy
Wilson
Jeff Franklin
John Schmidt
Gordon
Gallagher
Jacob Caddas
Amanda
McCain
Dan Meyer
David Nelson
David Scott
With the pandemic, our banker was on top of things from the start. She immediately reached out and let us know that she was available to us.
Community Spotlights
Ronnie Wilson | Owner, Louie Louie’s Piano Bar
We’re based in Texas, with locations in Dallas and Lubbock. We were about to start building our third bar in Colorado Springs when COVID-19 shut us down. My bank back in Texas, who we’ve been banking with for 12 years, didn’t get us anybody to help us apply for PPP. There was no one at that bank whom I would recognize or who would know me by name. On the other hand, I had only been working with Bank of Colorado since the previous fall, and those guys took it upon themselves to get us that loan. It took a couple weeks, but they communicated with me the entire time. Finally, the loan came through. It kept all 75 of my employees paid. If we survive this thing, it’ll be because of Bank of Colorado.
Ronnie Wilson
Heather Sams
Owner and Photographer,
Spoiled Rotten Photography
I photograph preschool children at their schools, and spring is my busy season—but that stopped abruptly in March when COVID-19 appeared. Bank of Colorado helped me apply and ultimately secure a PPP loan for my staff. Even though I’m a small portrait studio, the bank makes me feel valued and important—I’m not a number.
Community banking is so important, especially right now. I dread calling the 1-800 numbers for information and help. I never have to worry about that with my bank.
Collyn Florendo Market President, Bank of Colorado Colorado Springs
Since COVID-19 hit, we’ve tried to be more flexible than ever. Customers and employees are
dealing with so much uncertainty in all facets of their lives. We’ve worked to adapt to all of the
challenges and unusual circumstances everyone is experiencing—loss of jobs and confusion
about the virus. Many people are living in fear.
Now more than ever, it’s important that we understand our customers’ needs as they navigate
these turbulent waters. And as a longstanding community bank, understanding the needs of
our clients has always been the fabric of our work. During my nearly 40 years with Bank of
Colorado, I’ve consistently witnessed common sense, compassion, flexibility, and a desire to
find a way to help. And during this crisis, I’m proud that our branch has processed 260 PPP
loans. If you assume each business has an average of six employees, that’s over 1,500 families
we’ve assisted.
Heather Sams
Ronnie Wilson
Collyn
Florendo
Heather
Sams
Since COVID-19 hit, we’ve tried to be more flexible than ever. Customers and employees are dealing with so much uncertainty in all facets of their lives.
Community Spotlights
Phoebe Larsson | Owner, Whitewater Rafting LLC | Glenwood Springs, CO
We’ve owned Whitewater rafting since 2012. When you’re in the outdoors industry in Colorado, you’re always on the lookout for what we call black swan events. These are the
disasters you don’t see coming. Droughts, floods, fires, whatever might be just beyond the horizon. But COVID-19 and the ensuing economic downturn were a real shock.
That’s a big cloud. Every business faced uncertainty. We normally don’t open until May 1, but out of caution, we waited until June 12. We didn’t even know we’d have permission from the government to open until May 26. One of our first calls was to Bank of Colorado. Because we are a seasonal business, all our loans and mortgage are set up on a seasonal basis. Bank of Colorado immediately put a 90-day freeze period on our loans, even when they themselves didn’t have any certainty about what was going to happen.
Once we realized that we’d be allowed to open and that we’d actually have customers, we asked about the PPP loans. I called Bank of Colorado and 72 hours later, the money hit our bank account. It was pretty phenomenal. As a result, we were able to hire our staff back immediately
and pay for the extra hours to take care of sanitization. That’s keeping jobs and people here. But it also allowed us to open with the confidence that we could pay everyone even though our initial reservations were only 15 percent of normal.
Business has picked up. Rafting is a safe outlet for people who wanted to get outside after being cooped up for months. No matter what happens, we’re confident that Bank of Colorado is just one phone call away. Having a local bank makes all the difference.
Phoebe Larsson
One of our first calls was to Bank of Colorado. Because we are a seasonal business, all our loans and mortgage are set up on a seasonal basis. Bank of Colorado immediately put a 90-day freeze period on our loans, even when they themselves didn’t have any certainty about what was going to happen.
Community Spotlights
Phoebe
Larsson
One of our first calls was to Bank of Colorado. Because we are a seasonal business, all our loans and mortgage are set up on a seasonal basis. Bank of Colorado immediately put a 90-day freeze period on our loans, even when they themselves didn’t have any certainty about what was going to happen.
Community Spotlights
Michael Dulberg | Fractional CFO, Bridgepoint LLC
I am a contract CFO for several different companies, so I have several different clients—everything from a software manufacturer to a nonprofit. And they were all looking for help through PPP loans.
Typically, I would work with whatever bank each company had been using. But sometime during the first round of PPP loans, we made the decision to go with a local, community bank.
I had actually never used Bank of Colorado before. But I had met one of their bankers through volunteering with a community organization. I expressed the importance of working with a bank that is timely, flexible, responsive, and understanding of their client’s needs. He said that he had heard similar comments made from others that had reached out to Bank of Colorado while trying to secure a PPP loan. He told me that if any of my clients were looking for a reliable bank and might be interested in working with him—whether they banked with Bank of Colorado or not—he was confident he could get their applications moving along.
I went back to my clients and told them about Bank of Colorado. Several of them agreed, and Bank of Colorado turned around their applications in a matter of two or three days.
The banker never asked me or any of my clients for a promise to bring all of their business to Bank of Colorado. There were no commitments, no strings attached. For a business, changing banks is a lot of work. But one of my clients did decide to switch. They appreciated Bank of Colorado understanding them on a more personal level.
He delivered.
Kayla Opperman Owner, Snapology of Golden-Littleton Denver, CO
Our business teaches children through hands-on, interactive play, so you can imagine how difficult it is to do that during a pandemic. We had to cancel our after-school programs and reimburse a lot of schools and families. We also had to cancel the camps we had scheduled during Spring Break. We were already a new and growing business, so we had to pivot quickly to make up that lost revenue. We set up private virtual classes with schools and groups of children and created daily LEGO building challenges on social media to keep children busy and entertained while their parents worked from home. We offered new customers a 125% refund if any in-person sessions were canceled.
Still, we would not have survived without the PPP loan we got through Bank of Colorado. They were extremely quick and on top of everything and always happy to help. That money paid my staff and the extra hands that allowed us to transition our business so swiftly.
I’ve always thought of myself as an independent person, but it was wonderful to see how we all came together during this trying time. It reminded me why I do what I do. I love giving back to my community and being there for the next generation. Working with Bank of Colorado helped me see how much we really do rely on one another. Receiving the PPP loan from Bank of Colorado not only helped me keep my staff paid, but it also allowed me to create new jobs as we were pivoting. I am only one business owner, so overall this made a huge impact on our community during a rough time.
Michael Dulberg
Gary Stone | Founder, Firestone CFO | Denver, CO
We provide CFO consulting services and financial expertise, so we have many opportunities to work with a lot of different banks. Larger banks have footprints everywhere, and if I’m working with a giant company, that might be what I want to do. But there are advantages to working with a community bank like Bank of Colorado.
It’s like having a suit custom made instead of buying one off the rack. No one is inventing new ways to cash checks. But being able to call someone up and get a personal banker who has taken the time to understand your situation can be huge. For example, after the CARES Act passed, we were doing business with a client who was working with a larger bank. Along the way, we moved them to Bank of Colorado, and the process of securing a PPP loan went so smoothly that we recommended them to a couple of other clients.
The other advantage with community banking is in keeping your business local. Bank of Colorado knows the local landscape and has a great network of other clients—your suppliers might be their customers too. It really gives you a more holistic view of what’s going on in your community.
Gary Stone
Alisa Wonnacott | Executive Director,
The Association for Community Living (ACL) Boulder and Broomfield Counties
We’re a civil and human rights organization. We support people with intellectual and developmental disabilities, whether that’s kids struggling in school or adults looking for housing options. There were people at risk who needed our help right now, and we couldn’t do what we do because we didn’t have a bank that we could count on.
Then I remembered a previous experience applying for a loan through Bank of Colorado. We didn’t end up taking the loan, but the personal touch of the experience had stuck with me. I called a contact there, and they immediately said, “Yes, we can help you.” They sent us the PPP forms and walked us through the process. They called me, politely making sure I received everything and was always kept apprised of the situation. Within days, we had been approved for the maximum amount.
The experience reminded me how important community banking is—not just for businesses, but also for the people ACL serves. One of the difficulties of living with developmental disabilities is that they don’t have access to online banking or the skills to navigate it. They have to be able to talk to someone at the bank or they can’t effectively manage their own finances.
As for ACL itself, we’ve moved all our banking to Bank of Colorado. I always want to be in a position where if my business desperately needs help, I’ll have a bank that I can count on.
Diana Goldberg | Executive Director, SunGate Kids | Greenwood Village, CO
I’ve worked with any number of banks. But I’ve never worked with one like Bank of Colorado, where every single person I interact with is receptive and helpful. When they talk about customer service, it’s not just talk.
I was in a panic. We are an advocacy center for children who are victims of sexual abuse. We conduct forensic interviews and then work with local law enforcement and child and family services to help them get therapy and other resources. And on March 15, we closed our doors
to all but the most urgent emergencies. We went from 55 cases a month to just three between March and May 7. We also lost close to $400,000 in fundraisers that were canceled. I was worried about our 12 employees. I was worried about the kids.
The federal government was coming out saying they were going to help, but the particulars and procedures seemed to change daily. It was almost impossible to get anyone to respond to us or give us a straight answer—except Bank of Colorado. They never once treated me like my questions were bothersome. They worked day and night to get our PPP application processed and promptly approved. Thanks to that money, we were able to keep our doors open and keep people working. It literally saved us.
Alisa Wonnacott
Diane
Goldberg
Michael Dulberg
Gary
Stone
Alisa
Wonnacott
Kayla
Opperman
I’ve worked with any number of banks. But I’ve never worked with one like Bank of Colorado, where every single person I interact with is receptive and helpful. When they talk about customer service, it’s not just talk.
Community Spotlights
Randy and Susan Stahley Owners, Sterling Early Learners
Susan: I’ve always been a teacher. But eight years ago, we had the opportunity to open up a daycare and preschool—something the community really needed. We converted a building and had it up and running in just two months. Bank of Colorado was integral in the process.
Randy: This past March was a very complicated time. They closed the schools, so we had to close our pre-school portion for six weeks. During that time, we fretted over how we were going to maintain our staff. How do we hold it all together? That’s when we got in touch with Thea Sonnenberg at Bank of Colorado.
Thea was exceptional. She spent many hours outside of the workday, so we were always at the top of her list. Thanks to Thea, we were approved for PPP in maybe 10 days. It allowed us to pay our staff and take care of the overhead expenses. It’s nice to be able to walk into a bank and know they’ll do whatever they can to help. So many people forget how a rural community works. You know people by name. That’s important out here.
Susan: The community had been burnt before on a flood disaster. A lot of banks were hesitant to get involved in this sort of disaster relief. That wasn’t true of Bank of Colorado. Thanks to Thea, we were approved for PPP in maybe 10 days. It allowed us to pay our staff and take care of the overhead expenses—water, electricity, and rent—that don’t just go away.
We’re just now getting back to our usual summer levels. We have a tremendous waiting list for the fall. So many daycares have closed due to COVID-19.
Randy: Parents are being extremely supportive. Our daycare is full. But if they close the schools, that means preschools close. And there we go again—our potential income goes down. What happens to our staff? Every day there’s a different discussion. There’s a high degree of anxiety and uncertainty.
Susan: It’s nice to be able to walk into a bank and know they’ll do whatever they can to help. So many people forget how a rural community works. You know people by name. That’s important out here.
Lance Swapp | Dentist, Northeastern Dental Associates | Sterling, CO
When COVID-19 hit, my business went from seeing nearly 30 patients a day to maybe one a week. I had to tell my staff of 10 that, at this time, they didn’t have a regular job. With a small staff, they’re more than just employees. They’re my friends. I worry about them and their families. I promised them I would try to pay them through the next two weeks.
That’s when Shane Engelken at Bank of Colorado told me about the PPP loans. I hurried and applied for the loan through Shane. We were approved and got our money before my other bank even contacted me to tell me
that they weren’t going to do PPP.
At Bank of Colorado, people are more friendly. They get things done more quickly because their reputation is
on the line. And that personal touch gives me confidence that we’re going to be able to get financing when we need it.
Thanks to the PPP and Bank of Colorado, I was able to keep my entire staff through these uncertain times. Now business is back to pretty much normal, and we’re working to pay back the loan.
Whenever my front-office person has questions while putting together the paperwork, she calls Bank of Colorado. Someone there walks her through it. I don’t think we would have gotten that service at another bank. At Bank of Colorado, no matter how small your stake is, you don’t feel like just another person.
Randy and Susan
Kim Sellers | Owner, The Grill at River City | Sterling, CO
When we moved to town nearly 20 years ago, someone told my husband that Bank of Colorado was where we needed to bank because they’ll take care of you. We’ve had our personal accounts with them ever since. Three years ago, when we decided to finally follow our dream, start our own business, and open the restaurant, well, there was no question who we’d be banking with.
And it’s a good thing we were with Bank of Colorado when COVID-19 hit. Our sales suddenly decreased while costs for enhancing safety procedures went up. We’d only been in business for a couple years, and there was tremendous anxiety over the huge business loan and the huge debt we still owe. We’d mortgaged our house. Everything we’ve worked for our entire lives is in this business.
Our banker came in right away to defer some of our business loan payments—that relieved a little bit of stress and allowed us to keep things up and running. Then when we asked about the PPP loans we saw on TV, he immediately emailed us the forms, submitted the application, and checked in almost every other day to update us until the money came through.
The things Bank of Colorado did for us saved our business, saved our employees’ jobs, and helped the entire community. They know our names, our goals, and what we’re trying to achieve. They are our neighbors.
Lance Swapp
Shanke Engelken | Loan Officer, Bank of Colorado | Sterling, CO
As a community bank, I believe it’s our responsibility to be a pillar of strength for our community. COVID-19 has had a major impact on the community so, as a bank, we’ve had to look at things differently and work with our customers to get through this.
We know our customers depend on us to be open. That’s why our branch split its staff into two teams—half working in-branch, half working from home. That way, if an
in-branch staff member tested positive for COVID-19, that team could quarantine while the at-home team moved in to keep the branch open for our customers.
We’ve also done what we can to support the community outside of our business. Bank of Colorado’s banking model allows us the unique autonomy to be flexible and make quick decisions at the branch level. This enabled us to adapt to the rapidly changing rollout of the CARES Act programs and to be responsive when our customers needed us the most.
Our bank has always done a great job supporting our customers, but even more so during the past several months. That means ordering in food from local restaurants for our staff once or twice a week, buying gift cards from local businesses that were forced to close and using the cards for future giveaways and promotions, and even supporting local schools and their programs, like Future Farmers of America.
All communities are unique. A one-size-fits-all approach to banking doesn’t work for every customer or every community, especially now. That’s where community banks shine. Our customers are our friends, our neighbors, the people we sit next to in church on Sunday. We understand their operations and care about their livelihoods because, ultimately, they’re the people who make our community what it is.
Thea Sonnenberg Loan Officer,
Bank of Colorado Sterling, CO
When times get tough, there is nothing like sitting down face-to-face or picking up the phone and talking to someone you know and trust. Being a community bank allows us to build relationships with our customers, so we know how to be there for them in good times and bad.
Bank of Colorado’s model is perfect for times like these because we have been building a rapport with our customers since day one. They don’t have to call a third-party phone service because most of them have our cell phone numbers. We get our groceries and gas up our cars at the same places.
During COVID-19, a lot of businesses were forced to close or operate in a reduced capacity. Even those deemed “essential” were hit hard as people were staying home and not spending their money.
We’ve done everything we can to help each one of our customers get by—including making accommodations for them to sign documents and apply for loans curbside or over the Internet. As a bank, we came together and worked evenings and Sundays without batting an eye.
That speaks to the culture of this bank—we take care of our customers, we take care of each other, and we all buy into the vision of our community bank.
Shanke Engelken
Thea
Sonnenberg
Randy and
Susan Stahley
Kim
Sellers
Shanke
Engelken
Lance
Swapp
I feel like the community banking model is perfect for times like these because we have been building a relationship and a rapport with our customers since Day One.
Community Spotlights
Sue Wagner
Sr. Vice President of Business Banking, Bank of Colorado
Fort Collins North
The pandemic has forced everyone to consider changes in how we do business. But at Bank of
Colorado, the values behind our business have never been stronger. Flexibility is the name of
the game, and when management called the staff to action, we all responded enthusiastically
to help our community members—we felt like we made a difference.
For instance, to maintain the reliability and stability of relationships with customers, we have
held meetings and conducted closings curbside, expanded online document-signing options,
and worked to normalize social distancing. And working remotely has actually made our
bankers more accessible and responsive to customers outside normal business hours.
As an essential business, our customers need to know that their money is safe, that we are
available and will be there when they need us, and that we are working together because their
success is important to all of us and our community.
Steve Taylor | Restaurateur, President of Hot Corner Concepts
Restaurants were among the first places to shut down. We closed our operations in mid-March
until June, laying off 200 people. During those initial weeks, I was busy shifting operations.
Meanwhile, my Bank of Colorado banker was in contact with me daily, updating me with the
ever-shifting process of our application for PPP. He offered expert advice related to other relief
programs that he thought might be a fit for us and personally stewarded our applications
through the process. I was relieved not to have the burden of continually updating myself on
the process. And I was even more relieved when our loan came through in a timely fashion to
help us bring our furloughed staff back to work.
As a company, we are very involved in our community. We support local nonprofits. Our people serve on boards and commissions that serve Fort Collins. So, it’s always been important to me that I bank with an organization that shares those values. I also wanted a bank that was familiar with my company and the unique challenges related to the restaurant business. Bank of Colorado fills both of those requirements.
Sue Wagner
Steve Taylor
Rex Smithgall
Sr. Vice President,
Bank of Colorado | Downtown Fort Collins
There is nothing more comforting than looking to your banker and feeling confident in their means to assist you. A bank’s true worth is demonstrated when times get tough. A community bank is nimble, flexible, and communicative to help our customers weather the economic storm.
For instance, Bank of Colorado streamlined processes and implemented technology to help our
team be more efficient. They enlisted all loan officers to join forces and devise a plan to
efficiently process PPP loans. From the moment we started receiving applications that first Friday, teams were assigned to each client and stayed over the weekend to process requests. Customers had approvals as early as that Saturday, and our teams worked feverishly the following week to make sure that every customer was informed, updated, and ultimately, taken care of.
David Thomas Executive Director, Aresenal Colorado
We’re a nonprofit youth soccer club based in Fort Collins. When COVID-19 hit, our operations, like all sports, came to an abrupt halt. No longer able to provide our typical soccer opportunities, we had to find creative ways to connect with our members.
Bank of Colorado was in the same position. For safety, their staff worked to minimize the need
for face-to-face interaction while still making it clear that they were here to support what we do. We learned about so many great online banking options and resources that they offer. And our bankers were constantly in touch via phone and email to help us through applying for PPP and all our other banking needs. They’ve been so supportive in many ways other than just a simple banking relationship. They seem to really care about what we do.
Rex Smithgall
David
Thomas
Rex
Smithgall
The pandemic has forced everyone to consider changes in how we do business. Flexibility is the name of the game, and when management called the staff to action, we all responded enthusiastically—we felt like we made a difference.
Community Spotlights
Steve
Taylor
Sue
Wagner
Legal/Privacy
Thornton
Helping community has always been at the core of everything we stand for, and 2020 brought challenges like no other year in recent memory. Between the pandemic shutdowns and wildfires in Northern Colorado, our communities faced many challenges. We rose to the occasion and continue to stand at the ready to help our communities through trying times.
Helping community has always been at the core of everything we stand for, and 2020 brought challenges like no other year in recent memory. Between the pandemic shutdowns and wildfires in Northern Colorado, our communities faced many challenges. We rose to the occasion and continue to stand at the ready to help our communities through trying times.