1st SouthWest Bank
1st SouthWest Bank is a strong and growing community bank dedicated to serving the people and businesses of Southwestern Colorado. For over 20 years, the bank has actively supported and sought opportunities to improve the quality of life in its communities. In addition to providing professional and personalized service to customers, 1st SouthWest strives for 100% involvement from its employees in community organizations, programs and non-profits.
The Telluride Foundation is excited to announce the launch of the Telluride Regional Loan Fund, a $2 million operating working capital loan fund designed to support rural business startup, growth and job creation and retention in southwest Colorado. The Loan Fund is a partnership with ZOMALAB and First Southwest Community Fund. The Telluride Loan Fund is a working capital fund designed to help companies with their day-to-day expenses. The purpose of the fund is to help uniquely rural and un-bankable businesses bridge the capital gap until they can become commercially bankable.
Rural businesses, especially startups and those operating on a shoestring, have long found it difficult to qualify for traditional bank loans. Now Hello Bello, a new app from 1st Southwest Bank CEO Kent Curtis, seeks to address that. The app provides a central database that combines numerous sources of financing open to an underserved business. "Hello Bello serves to mitigate risk for banks and open the complete capital stack for small businesses," Curtis said. "This can be transformational in the way capital is deployed in rural communities."
1st Southwest Bank customer Animas Chocolate Company has revolutionized the world of chocolate for Durango locals. The shop specializes in both bean-to-bar chocolate and fine chocolate mixes such as hot chocolate, truffles, and more. Owners Carley and Marc have taken dessert-making to a whole new level, making tasty and enjoying sweets an experience anyone will want to share. Recently, the bank reached out to the owners to get their take on what it's like running their unique business. Read more here.