Restaurants in Colorado Springs serve three overlapping crowds: military families and defense workers, Pikes Peak visitors, and a fast-growing population on the north and east sides. Whether you are leasing a patio space on the rebuilt stretch of Tejon Street, taking over a kitchen in Old Colorado City or opening near a base gate, this page focuses on restaurant loans for this market. Our Colorado Springs city page covers the broader economy.
The El Paso County restaurant market
The Census Bureau’s 2023 County Business Patterns counted 1,278 restaurants and other eating places with paid employees in El Paso County (NAICS 7225), with 26,737 employees; 495 of those establishments were full-service restaurants. Most of that activity is inside Colorado Springs, the county’s dominant city.
Downtown has been reshaped for dining. The city’s Tejon Street Revitalization Project, a partnership with the Downtown Partnership’s Downtown Development Authority, rebuilt Tejon between Colorado Avenue and Kiowa Street with a dedicated patio zone about 9.5 feet deep next to the buildings, wider sidewalks and new trees. The city describes a $2.3 billion surge in downtown investment in recent years, including new hotels, restaurants and housing.
Neighborhood landmarks are evolving too. At Ivywild School, the converted elementary school on South Cascade Avenue, ownership of several food and drink concepts moved to the Bristol family in 2026, with coffee and breakfast service added and a rotating-menu restaurant called The Restless Chef planned for January 2027.
What Springs restaurants typically finance
Patio-ready build-outs. Downtown spaces may need kitchen, ventilation or accessibility work, and the new Tejon patio zones make outdoor furniture, heaters and enclosures worth budgeting for. Construction and renovation loans or SBA financing can cover the full scope.
Equipment. Ovens, fryers, hoods, walk-ins and point-of-sale systems can be funded through restaurant equipment financing, keeping cash available for opening.
Seasonal cash flow. Summer tourism peaks around Pikes Peak, Garden of the Gods and the Olympic & Paralympic Museum, while some base-area spots ride the rhythm of training cycles and reassignments. Working capital loans and lines of credit help bridge those swings.
New units in growth areas. Operators following new rooftops north and east often use expansion loans or franchise restaurant financing.
Other loan types to consider
- SBA loans when you are purchasing a going-concern restaurant or a freestanding building near a base or downtown.
- Term loans for a defined remodel or equipment package.
- Catering business financing for operators serving base events, offices and weddings.
What you need to apply
Fill out the short application with your business type, time in business, monthly revenue, amount needed, use of funds, timeline and number of locations. Then upload the three most recent months of business bank statements. For new construction or a remodel, keep the lease and contractor bids handy for the lender’s next questions.
Permits and local resources
Before building or extensively remodeling a restaurant, El Paso County Public Health requires a retail food plan review with a menu and scaled floor plan, followed by a pre-opening inspection; the county notes review can take up to four weeks. Building permits go through the Pikes Peak Regional Building Department. Liquor applications start at the City Clerk’s Office and finish with the Colorado Liquor Enforcement Division. The Pikes Peak SBDC offers free advising at Catalyst Campus downtown.
Questions owners ask
What does a Colorado Springs restaurant build-out need permitted?
Plan on a building permit from the Pikes Peak Regional Building Department, a retail food plan review and pre-opening inspection from El Paso County Public Health, and a certificate of occupancy. Alcohol service requires a local license through the City Clerk’s Office and a state license. Starting the food plan review early helps keep construction on schedule.
Can I get an SBA loan for a Colorado Springs restaurant?
Yes. Restaurants commonly use SBA 7(a) loans for acquisitions, build-outs and working capital, and SBA 504 loans for buying real estate or major equipment. Approved lenders decide and set terms. You will typically need a business plan or financial history, personal financial information and project details. A broker can find SBA lenders active in El Paso County.
What do lenders want from Colorado Springs restaurant owners?
Lenders start with your recent bank statements, time in business, existing debt and credit. For new projects they also want the lease, a budget and your industry experience. Restaurants that depend on seasonal tourism or one nearby base should be ready to show how sales held up in slower months; a full year of statements helps.
More Colorado Springs and Colorado resources
See bar financing in Colorado Springs, return to the Colorado hub, or compare restaurant loans in Denver. Ready to see options? Check what you qualify for.