SMALL BUSINESS LENDING, VC INVESTMENTS.

• Position: Brief Article - Illustration - Statistical Data Included

Thanks to the number of telecom companies here, Colorado venture capitalists tend to fund Communications most, then Software & Information -- a departure from the national norm, which tends to fund software companies, including Internet, before communications, according to Don Keller, spokesman for PricewaterhouseCoopers' Money Tree Survey. Another twist: Communications has fewer deals but more dollars, whereas Software & Information has more deals but fewer dollars.

"Colorado was a state in our district that was a little ahead of other states in the district in terms of consolidation. It's a little unique. Since there is a consolidation going on, it might give an idea of what the rest of the district might do over time."

Richard Sullivan, an economist in the division of banks supervision and structure at the Federal Reserve in Kansas City, on why the reserve chose Colorado for a 1996 study on bank trends.

"Software is more prone to people costs," Keller said. And: "There's more need for capital investment in communications than in software."

TOP 10 U.S. SMALL BUSINESS ADMINISTRATION LENDERS IN COLORADO, FY '99 [*] Loans Gross Lender Approved SBA Dollars Wells Fargo/Norwest 91 $17.6 million VectraBank, Colorado 71 $15.7 million Premier Bank 63 $19.1 million First Union/Money Store 50 $27.6 million U.S. Bank 35 $16.1 million Bank One 33 $5.1 million Transamerica 32 $13.1 million Keybank, Colorado 31 $8.4 million Newcourt Small Business 27 $14.2 million Matrix Capital 24 $14.1 million (*.)Ended Sept. 30 Source: U.S. Small Business Administration WHERE THE LOANS GO SBA Lan Approved Gross County Guarantees SBA Dollars Denver 148 $45.3 million Arapahoe 126 $44.9 million El Paso 111 $38.9 million Jefferson 83 $24.8 million Boulder 57 $16.4 million Adams 56 $16.7 million Douglas 55 $16.5 million Larimer 28 $9.8 million...