Access Capital Technologies (ACT) is pleased to announce that Colorado’s Office of Economic Development and International Trade (OEDIT) has awarded a $50,000 grant through which ACT will provide the technology to expedite access to capital for manufacturers statewide.
OEDIT awarded the Advanced Industries Leads grant to the Colorado Advanced Manufacturing Association (CAMA) to help “drive economic growth, support jobs, technology commercialization, industry development and improve quality of life throughout Colorado.” The grant supports CAMA’s efforts to incentivize small- and medium-sized manufacturers to invest in automation and to educate them about accessing capital through ACT’s platform. To meet that goal, CAMA will work with organizations such as the Colorado Manufacturing Network (CMN).
ACT’s user-friendly, scalable platform streamlines and expedites the loan application process and matches businesses with specific lending programs that will meet their needs. The technology cuts costs for new customer loan origination by nearly 70% and cuts acquisition costs by half, while almost entirely eliminating application rejections.
ACT serves as a CAMA subcontractor, and its technology became available to Colorado manufacturers via CAMA’s website in October 2023. For more information about CAMA and ACT’s partnership, click here.