FirstBank Finances $722.6 Million in Business Loans During First Quarter

Colorado’s Second Largest Bank Funds More Than 1,400 Development and Business Expansion Projects in Colorado

LAKEWOOD, Colo.--()--FirstBank, one of the nation’s largest privately held banks and Colorado’s second largest bank, announced that it financed $722.6 million in business loans in the first quarter of 2016. The loans included equipment, small business administration (SBA), construction, land development and commercial real estate loans, as well as working capital lines of credit.

“We take great pride in providing businesses with the funds to expand their operations,” said John Ikard, CEO of FirstBank. “We believe these companies are filling a critical need in Colorado, and are happy to provide them with the financial resources to grow.”

Among the more than 1,400 business loans originated by FirstBank, the following companies received loans of more than $1 million:

  • Mindful Development: A $4.5 million commercial real estate loan was provided to real estate developer, Mindful Development, which will build a new retail outlet in northeast Colorado Springs. The new retail area will include a Massage Green Spa, The Beauty Bar and MOD Pizza, as well as two new restaurants from Rocky Mountain Restaurant Group, which owns Salsa Brava, Sonterra Southwest Grill, Urban Egg and Over Easy.
  • Bel Shower Door: A $1.56 million equipment loan was provided to Denver-based Bel Shower Door, which specializes in custom framed shower and tub doors for homes. The loan will help them expand their operation and buy equipment that allows them to create products on-site.

“I was very pleased with the service we received working with FirstBank,” said Bill Sain, president of Bel Shower Door. “Their officers don’t receive commission and operate in the customer’s best interest. They’re a great financial partner and are helping Bel Shower continue to deliver high quality, cost-effective products to customers.”

FirstBank offers a variety of business loans, including SBA loans, commercial real estate loans, construction loans and business loans for working capital or fixed asset needs. For more information on the bank’s business products and services, visit efirstbank.com/business or email businessloans@efirstbank.com.

About FirstBank

FirstBank operates more than 120 locations in Colorado, Arizona and California. FirstBank is the largest locally owned banking organization in Colorado, serving more than 700,000 customers. Since 2000, FirstBank has contributed more than $50 million and thousands of volunteer hours to charitable organizations. FirstBank is unique in that a majority of its stock is owned by management and employees. For more information, go to www.efirstbank.com.

Contacts

FirstBank
Chandra Brin, 303-235-1402
Chandra.Brin@efirstbank.com
or
Linhart Public Relations
Jake Kubié, 303-515-2414
JKubie@linhartpr.com

Contacts

FirstBank
Chandra Brin, 303-235-1402
Chandra.Brin@efirstbank.com
or
Linhart Public Relations
Jake Kubié, 303-515-2414
JKubie@linhartpr.com