First Southwest Bank

Serving the San Luis Valley and rural Colorado for more than 100 years, First Southwest Bank offers personal and business banking, agricultural, and business loans supporting rural people and communities.

$

0

M

Loans Funded (Overall Project Cost)

0

%

Businesses Financed Were Rural

0

%

Businesses Financed Were Start-Ups and New Businesses

About First Southwest Bank

First Southwest Bank and our employees live in and actively give back to the communities we serve. FSWB is a locally owned, independent community bank with six Southern Colorado branches in Alamosa, Center, Cortez, Durango, Pagosa Springs, and Saguache. We are proud to be one of two Community Development Financial Institution (CDFI) banks in Colorado, and the only CDFI bank serving the Four Corners states.

As a CDFI, FSWB is working to improve the social and economic landscape of rural Colorado. We do this, in part, by securing and deploying private and public resources unavailable to other banks. We provide equitable access to capital through low-cost, fixed rate loans for agricultural and small businesses, workforce housing, mortgage and rental assistance, energy efficiency and solar enhancements, educational and healthcare facilities, and other community needs.

In 2024, we were again named the U.S. Small Business Administration Colorado Rural Lender of the Year. Together with our nonprofit partner, First Southwest Community Fund(Opens in a new Window), we ensure that our region’s entrepreneurs, small businesses, and nonprofit organizations have access to the inclusive and equitable capital they need to grow and enrich our communities.

First Southwest Bank Impact Stories

BV Bike Doc

Ben Vold has always been passionate about bikes. Growing up in a small town in Indiana, he rode everywhere and loved taking bikes apart just as much as riding them. After college, he worked in various bike shops before transitioning to a career as a pharmacist. But his love for bikes never faded, and in 2024, he decided to turn that passion into a business by launching BV Bike Doc.

Ben saw a real need for convenient, high-quality bike maintenance services in the Buena Vista area. He envisioned a mobile bike repair shop that could meet cyclists where they needed help the most—at trailheads, events, and around town. However, turning that vision into reality required significant startup costs. He needed a truck, a trailer, bike maintenance tools, a custom trailer wrap, and rental bikes to offer demo rides.

That’s where First Southwest Bank stepped in. With their support, Ben secured a loan that gave him the resources to launch BV Bike Doc and bring his idea to life.

Today, BV Bike Doc is a thriving mobile bike repair service, offering everything from basic tune-ups to full overhauls. Ben also provides child safety checks, rental bikes, and a variety of specialized services—from hub adjustments to spoke replacements. His ability to meet customers where they ride has made bike maintenance more accessible and convenient for the Buena Vista cycling community.

Beyond running his business, Ben remains deeply connected to the trails he loves, often riding his single-speed mountain bikes in his free time. Thanks to the loan from First Southwest Bank, he’s not only built a successful business but is also enriching his community—keeping bikes in top shape and helping more people experience the joy of riding.

Chaffee Housing Authority

Salida, CO, is facing a severe shortage of affordable workforce housing, with rents rising 43% since 2016. The increasing cost of living is making it difficult for local workers to find stable housing, threatening the local economy and forcing many to leave the area.

In December of 2024, Chaffee Housing Authority (CHA) assumed ownership of The 505 Apartments in Salida, its first project aimed at preserving existing affordable housing. The 505 is currently home to 32 Salidans who benefit from monthly rents that range from $1,100 to $1,350, which is more affordable to the local workforce than most market-based rents in the city.

First Southwest Bank, which serves as a designated lender for the State of Colorado’s Affordable Housing Investment Fund, assisted CHA with a $1.468M low-interest loan. Additionally, the CHA was awarded $1.9M from the State of Colorado’s Division of Housing.

The acquisition marks a major milestone for CHA, as the 505 Apartments are the first operational apartment complex they own.

CHA continues to expand its impact, with upcoming projects like the construction of Jane's Place, a 17-unit transitional housing project, and support of the 60-unit Midland Apartments. By securing funding from partners like First Southwest Bank, CHA is making significant strides in preserving and expanding affordable housing, ensuring that more of Chaffee County’s workforce can continue to live and thrive in their community.

Better Cleaning Services

Building on her decade-long experience in residential cleaning, Erika Martinez took a significant step forward in 2024 by establishing Better Cleaning Services LLC. This move formalized her well-respected cleaning business in the San Luis Valley, expanding her services to include commercial cleaning alongside her established residential offerings.

With a strong reputation for quality and reliability, Erika has become the go-to cleaner for major rental companies in the area, specializing in move-out cleanings for apartment complexes. To support her growing business and improve operational efficiency, Erika secured a loan through First Southwest Community Fund to purchase a dedicated vehicle for transporting her team and equipment. This investment has enabled Better Cleaning Services to take on more clients and provide even more responsive service, contributing to the economic vitality of the San Luis Valley region.