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Kurt Kofford, a CPA and director at BiggsKofford CPA Firm, was shocked and disappointed recently when he visited a small business where he’d been a customer for years, and found it was closing. There was some manual labor involved in the service the business provided, and the owners no longer...
When Yemi Mobolade and Russ Ware were looking to open Wild Goose Meeting House six years ago, they learned what many budding entrepreneurs discover: It’s not easy for startups to find financing. “We took money from our 401ks, coupled with money from close family, friends and two people from the...
As investors begin paying more attention than ever to where their money goes once it leaves their pockets, local experts say sustainable investing will continue to gain steam in the finance industry. “There’s just a massive amount of momentum in this space,” said Jason Akridge, vice president and senior financial...
Rising health care costs and disappearing pensions have led to nationwide unease about retirement savings, and while local experts say the Pikes Peak region is in better shape than some parts of the country, Colorado residents are not immune to those concerns. According to AARP’s Colorado Retirement Security Survey, released...
When it comes to owning a medical practice, managing finances can be a little tricky. “In health care — unlike, let’s say, retail where you’re paid at the point of purchase — you’re not paid for maybe a month or more after you provide the services or the treatment,” said...
Rising interest rates might mean it’s time to consider refinancing — at least certain loans. “If you have an interest rate on a piece of equipment or building for your company, it’s a good time to check when your loan matures,” said Jason Doyle, president of UMB Bank in Colorado...
There is a single mortgage lending document that comes with 1,000 pages of instructions banks are required to follow. “Banks are the most heavily regulated industry in the nation,” said Amanda Averch, director of communication for The Colorado Bankers Association. “ is aware that the cost of compliance has become...
An increase in commercial lending is a result of the area’s healthy economy. However, rising interest rates may slow businesses’ borrowing. “We have had a good, long sustained run of about eight or nine years that’s historically one of the longest economic cycles we’ve seen,” said Ralph Miller, the vice president...
The moment a customer steps away from the centralized table, where deposit slips and other bank transaction documents are kept, they are greeted by a welcoming smile from one of Herring Bank’s tellers. “I think that customer service is the No. 1 thing that distinguishes larger banks from community banks...
Bill Garden was seeking additional capital for his expanding business and discovered that getting loans for expansion was harder than he thought it would be. Co-owner of Peak Med, a family health care business, Garden wanted to expand to more locations throughout the state. He knocked on a lot of doors...
Credit card fraud can be costly to companies, but there are methods business owners can employ to limit their losses. It’s not a new problem, but most of the fraud now occurs in the e-commerce realm, rather than at the checkout counter. While so-called “chip cards” have mostly thwarted fraud...
Thousands of small-business owners from the enormous Baby Boomer generation are —  or will soon be — faced with the prospect of selling their company as they move into retirement. Before heading to the golf course or to hang out with the grandkids, those business owners have much to consider, ...