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If you wanted to start a business but couldn't convince your bank to loan you money, where could you get help? The El Pueblo Inter-Development Corporation has an interim business loan program with funds for just that purpose. Of course, if you have a good idea and are willing to work hard, you must also have a convincing business plan that you can take confidently to your bank in hopes that they will see it your way and want to invest in your business.
Arranging a business loan is quite a bit more complicated than taking out a car loan -- or even a home loan -- but the people at EPIC will even guide you in developing a good business plan and follow up on your plan to see that your business is on the right track.
Last week, EPIC's first board meeting was conducted by EPIC chairman Gil Sanchez, Pueblo Community College's director of community services, in the ballroom at Pueblo Community College. Bank officers and local businessmen supporting the group addressed a wide range of resources needed by start-up and existing businesses that do not meet conventional banking underwriting criteria but probably would be successful if they could arrange financing.
The EPIC loan program assists in qualifying...