http://coloradoenterprisefund.org/ Colorado Enterprise Fund - Blog RSS Feed 2.0 en-us Wed, 07 Jun 2023 07:18:00 GMT Wed, 07 Jun 2023 07:18:00 GMT http://coloradoenterprisefund.org/blog/11874/Small-Business-Spotlight--Kona-Bowls blog "With the funding we received from CEF, we were able to secure our dream of a stand alone brick-and-mortar location in Golden, CO." – Alissa Mattson, Owner of Kona Bowls Golden, CO | Owner: Alissa Mattson Food and Beverage Services Business www.konabowlscafe.com Q&A with Owner, Alissa Mattson  Give a high level overview of your business. What products or services you offer, where you're located, etc. Kona Bowls is a family owned superfood cafe in Downtown Golden, CO specializing in nutritious superfoods the whole family will love! Our goal is to elevate the collective wellness in our community through superfoods and good moods, including acai bowls, poke bowls, fresh juice, Buddha salads, and more. Our concept is a colorful and fun representation of the Hawaii beach life we brought to Colorado after living and raising our family on Big Island, HI for six+ years. Our dream is to bring aloha, health, happiness, and bold spirits to others via our delicious, super nutritious, island-inspired bowls! How did the idea for your business come about? As our family transitioned our life from Hawaii to Colorado, I dedicated one day a week to sit on the beach and envision the space and concept for Kona Bowls. The fresh, clean, healthy foods of the island inspired our menu, with a specific focus on creating a happy and healthy community. Describe your typical customer and what you love about your customers. Our typical customer varies from local Goldenites seeking a healthy lifestyle to those visiting Golden, CO and looking for healthy eats pre or post workout, hike, bike, tubing, etc. We are always so happy to host these faces on a regular basis and offer guests a healthy and refreshing summer meal. What led your business to seek out new/additional funding? Kona Bowls started small. We self funded a startup in a food hall and worked hard to innovate and thrive during covid shutdowns. When restrictions lifted, our efforts were fruitful as we quickly outgrew our small space and secured our dream of a stand alone brick and mortar location in Golden, CO. How did you find out about CEF? The beauty of customer service is that you get to touch the lives of many people, and in return they touch our lives as well. One of our regular customers at Kona Bowls had shared that he was an SBA Loan Officer, so I reached out to him, and he put me in touch with Colorado Enterprise Fund! What was your experience like in working with CEF? CEF was flexible to our many changes as we moved into a new business model and location. We encountered challenged along the way with landlords and building in a post covid world where construction costs were rapidly multiplying. We were so pleased with the flexible funding from CEF. What were you able to do with the funding you received from CEF? CEF funded Kona Bowls' building process in a new brick and mortar location. We used funds to pay for materials, contractors, and working capital as we started the first year of business. What's on the horizon for you and your small business? We have had a successful start at our Golden, CO location and are looking to expand the concept to more markets. Let's spread health and happiness far and wide! What recent success(es) have you experienced in your business? We were able to hire a salaried store manager in Q4 of our first year! This will allow us to continue focusing our efforts forward growing our business and creating smart systems without being bogged down with the day to day details of running a small business.            Wed, 24 May 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11874/Small-Business-Spotlight--Kona-Bowls http://coloradoenterprisefund.org/blog/11760/Small-Business-Spotlight--Canna-World-Market-CBD blog "We were looking for ways to connect with the community and share about what we love. Instead of working for someone else, we decided we wanted to work for ourselves." – Eric & Rachael Sudhalter, Owner of Canna World Market CBD Loveland, CO | Owner: Eric & Rachael Sudhalter Retail Services Business www.cbdloveland.com Q&A with Owner,   Give a high level overview of your business. What products or services you offer, where you're located, etc. Canna World Market Loveland (CWML) prides itself on being a place where EVERYONE feels welcome in an environment of respect, honesty, and education. The atmosphere of our newly renovated store is created in great detail from the music we play, to the pictures on the wall, and how we interact with our customers. CBD is a great thing to have in your toolbox for pain, sleep, and stress. Our goal is to provide education on how to use our products for yourself and your pets. What inspired you to step into the world of small business? We were looking for ways to connect with the community and share about what we love. Instead of working for someone else, we decided we wanted to work for ourselves. Describe your typical customer and what you love about your customers. Our typical customer comes in looking for help with pain, sleep and/or stress for themselves, a family member, friend and/or a pet. Many of our customers don't know about CBD, and we love having a conversation with our customers to figure out which product would be the right one for them. Describe your journey in seeking out funding for your business. Ie, where did you first go to for funding, did you lean on credit cards, etc? With increasing financial demands, we leaned on all available options. We used savings, and eventually credit cards. CEF gave us the funding we needed to stay afloat, and make gains! How did you find out about CEF? We were Referred to CEF by the Loveland Small Business Development Center. What was your experience like in working with CEF? Every step of the process was clearly outlined, we were guided through each part, with explanations all along the way of what was currently happening, and what was next. The process was quick, and fairly easy, thanks to the expertise and patience of our loan officers. What were you able to do with the funding you received from CEF? The funding from CEF was used to restructure business debt. This decreased our monthly obligation, and freed up liquid assets. This allowed us to expand our product line and hire additional part time employees. What's on the horizon for you and your small business? This summer we will be attending at least 5 Farmers' Markets every week and occasionally up to 6 additional 1-time events per week, all of which is nearly double compared to last year. What recent success(es) have you experienced in your business? - Top 3 in 2021 Loveland Reporter Herald Category: CBD store - Success Story feature Loveland Small Business Development Center - Business Profile in West Loveland Neighbors - Celebrating 3 years Oct 2022 What's something on your bucket list that you hope to accomplish within the next 5 years? -Continue to grow and offer workshops and classes at the store -Open a second location -Expand our presence at Farmers' Markets and events.                     Mon, 24 Apr 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11760/Small-Business-Spotlight--Canna-World-Market-CBD http://coloradoenterprisefund.org/blog/11736/Nim-Patel--CEF-s-Chief-Strategy-Officer--Named-to-Community-Food-Access-Program-Inaugural-Grant-Advisory-Committee blog FOR IMMEDIATE RELEASE April 12, 2023 Contact: Olga Robak, olga.robak@state.co.us, 720-428-0441  Community Food Access Program Seats Inaugural Grant Advisory Committee Members Broomfield, Colo. — Colorado Commissioner of Agriculture Kate Greenberg has approved the selection of six inaugural members to serve on the Community Food Access Grant Advisory Committee that will help establish rules on how to disburse approximately $6 million in grants to lower prices for and increase access to healthy food in underserved areas of the state by supporting small food retailers and small family farms. "Committee members collectively bring knowledge of operating small retail stores, farming, grantmaking, supporting small businesses, working with SNAP EBT systems, and in some cases, using SNAP themselves," said Mickey Davis, Community Food Access program manager. "We are confident this committee will bring the perspectives necessary to make an impactful grant program." The goal of the Community Food Access program is to help small food retailers and small family farms impacted by COVID-19 purchase equipment or reduce the cost of providing access to healthy food in low income, low access neighborhoods and underserved areas of the state. The Grant Advisory Committee will help develop grant materials, qualifying criteria, and assist in the award process of approximately $6 million in grants.  The selected committee members represent both statewide service areas and smaller communities.   "I feel strongly that we each have the responsibility to contribute, as we can, to improving the environment of opportunity and equity for all in our communities. The food system is a foundational prerequisite to these efforts," said Dean Vidal, a farmer in Southwest Colorado, and newly appointed committee member. "CDA's program and the enabling legislation's intent offer real leverage for Colorado communities. I'm excited to be a part of helping our communities prosper." The committee members are: •    Nim Patel, Colorado Enterprise Fund •    Dean Vidal, Farmer, La Plata Food Equity Coalition •    Sara Mayer, Rocky Mountain Farmers Union •    Andrea Crary, Department of Local Affairs (DOLA), Colorado Resiliency Office •    Megan Harris, Hunt or Gather Buying Club •    Shaina Knight, Food Bank of the Rockies More information on the Advisory Committee and the Community Food Access Program can be found on CDA's website and in House Bill 22-1380.  ________________________________________   Wed, 19 Apr 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11736/Nim-Patel--CEF-s-Chief-Strategy-Officer--Named-to-Community-Food-Access-Program-Inaugural-Grant-Advisory-Committee http://coloradoenterprisefund.org/blog/11743/Ceyl-Prinster--CEF-s-President-and-CEO-Selected-as-Titan-100 blog PRESS RELEASE FOR IMMEDIATE RELEASE March 15th, 2023 Announcing the recipients of the 2023 Colorado Titan 100 Titan CEO and headline sponsor Wipfli LLP are pleased to announce the 2023 Colorado Titan 100. The Titan 100 program recognizes Colorado's Top 100 CEO's & C-level executives. They are the area's most accomplished business leaders in their industry using criteria that includes demonstrating exceptional leadership, vision, and passion. Collectively the 2023 Colorado Titan 100 and their companies employ upwards of 50,000 individuals and generate over $37 billion dollars in annual revenues. This year's honorees will be published in a limited-edition Titan 100 book and profiled exclusively online. They will be honored at the annual awards ceremony on June 1st, 2023, and will be given the opportunity to interact and connect multiple times throughout the year with their fellow Titans. "The Titan 100 are changing the way that business is done in Colorado. These preeminent leaders have built a distinguished reputation that is unrivaled and preeminent in their field. We proudly recognize the Titan 100 for their efforts to shape the future of the Colorado business community. Their achievements create a profound impact that makes an extraordinary difference for their clients and employees across the nation." says Jaime Zawmon, President of Titan CEO. This year's Titan 100 embody the true diversity of Colorado's business landscape. Representing healthcare, construction/real estate, technology, software, banking/finance, professional services, hospitality, transportation, and non-profit organizations among others. The annual Titan 100 awards celebration on June 1st, 2023, will be held at Wings Over the Rockies Air & Space Museum in Denver, CO. Wings Over the Rockies is located on the former grounds of Lowry Air Force Base. The museum is housed in the historic Hangar No. 1, built in 1939, and features dozens of historic airplanes, space vehicles, and interactive exhibits. This unique cocktail- style awards event will gather 100 Titans of Industry for an evening, unlike anything that exists in the Colorado business community. "On behalf of the partners and associates at Wipfli, we congratulate the Titan 100 honorees. From the first-year Titans to our new Hall of Fame honorees, we appreciate the lasting impact each leader has made and continues to make, in building organizations of significance both here in Colorado and abroad. Your ingenuity and creativity have set you apart, and the honor of being seen as a Titan is richly deserved," says Pete Aden, Partner at Wipfli. In addition to celebrating 100 Titans of Industry, Titan CEO and Wipfli will be recognizing the Titan 100 Hall of Fame. This prestigious honor has been awarded to only twelve Titan 100 honorees as part of this special commemoration. Titan award recipients are eligible to make the Titan 100 list up to three years, with each year getting progressively more difficult. To make it to the Hall of Fame, Titans must complete on- camera interviews and answer a series of questions where they do not know what will be asked in front of a live judging committee. The Titan 100 Hall of Fame are a class of elite entrepreneurs that have consistently shown over the past three years their ability to demonstrate the characteristics of a Titan who is a pillar of our community. The Hall of Fame recipients have been noted in bold and with an asterisk (*).   Jeffrey Abel - Abel Design Group Michael Aden - Colorado Home Realty Kristi Alford - Haarberg E2 Optics *Tom Atchison - National Corporate Housing *John Barry - Wings Over the Rockies Air & Space Museum Tammy Bellofatto - Bayaud Enterprises Shelli Brunswick - Space Foundation Jim Buie - Involta Elizabeth Caswell - Dyer Sopra Communities Inc. Jonathan Cerf - Core Progression Elite Personal Training Doug Chapiewsky - Kanso Software Jason Cherveny - Sanity Solutions Bob Cohen - HM Holdings, LLC Elycia Cook - Big Brothers Big Sisters of Colorado *Darden Coors - Salad Collective, LLC Cody Cornell - Swimlane Gina Coufal - FRIENDS of Broomfield, Inc Sarah Cullen - SideCar Public Relations Joseph Curry - Universal Chain, Inc. Jordan Darragh - PrintReleaf Dan DeGolier - Ascent CFO Solutions Damayanti Dipayana - Manatee Scott Dishong - Make-A-Wish Colorado Noah Drake - Telstra Americas Elizabeth Dressler - Capra Foods Jami Duffy Youth on Record Matt Emerson - AVFX, LLC Karl Falk - Botdoc Diane Ferraro - Save the Storks *Butch Fiore - Fiore & Sons, Inc. Jason Ganahl - GQue BBQ David Gandini - SOBRsafe Liz Geisleman - Rocky Mountain Reagents, Inc Stephen Goldberg - HarperDB Paige Goss - Point Solutions Group *Bill Graebel - Graebel Companies, Inc. Misty Gregarek - National Corporate Housing Jennifer Gremmert - Energy Outreach Colorado Casey Guber - Rose Medical Center and Rose Women's Hospital Albert Gutierrez MedPharm Holdings, LLC dba Bud & Mary's Jennifer Halford - Caliola Engineering *Shawn Hansson - Logic Integration Kate Harris - Stanley Consultants Pamela Harris - Mile High Early Learning Adam Hasemeyer - Kin + Carta Julie Herzog - Fortis Law Partners & Full Velocity Consulting Melinda Higgs - Colorado Nonprofit Development Center *Don Hindman - Johnson Storage & Moving Co., LLC Dana Jacoby - Vector Medical Group, Inc. Brandon Kaufer - Social Good Club Shay Kerman - Urgent Care Solutions dba AFC Urgent Care Brad Knepper - All Copy Products Jaylene Kunze - Urbint Cory Kwarta - Swisslog Healthcare *April Lambatos - Footers Catering, Social Capitol Events, and Mibe Marsh Lavenue - INTERA Sean Leary Sports - Thread *Robert Lindley - Canyon Title *Traci Lounsbury - Elements Tom Luersen - CoralTree Hospitality Group Matt Magrann - Projex Inc. Don Martin - Bloomin Promotions Christian Mezger - Anuvu Robert Nartker - Peak Vista Community Health Centers Bradley Nattrass - urban-gro, Inc. Kathleen Neuheardt - Bonfire Funds, Inc Jason Nimmo - Element13 Facades, LLC Jon Nordmark - Iterate.ai Judith Nowlin - Nest Collaborative Erik Olson - SERVPRO Team Olson Dan Pellegrino - Forbes Partners Jeff Porter - Handbid Cecilia "Ceyl" Prinster - Colorado Enterprise Fund Erin Pulling - Food Bank of the Rockies Kathleen Quinn - Votaw TalenTrust Tamra Ryan - Women's Bean Project Lindsay Salas - CASA of Adams and Broomfield Counties Rodrigo Sanchez - El Tequileno Family Mexican Restaurant Steven Sashen - Xero Shoes Phil Sim - Blytheco Megan Smith - Symbia Logistics *Stuart Smith - Buehler Companies Mark Spiecker STAQ Pharma Holly Steele - GavinHeath Brett Suma - Loadsmith, Inc Gem Swartz - Catalyst Marketing Agency Craig Thomas - Brightstar Capital Partners Irena Todd - Fresh Monster Katie Wafer Gillberg - Hydrate IV Bar Dirk Wallinger - York Space Systems Michael Wamsganz - Citywide Banks Martha Weidmann - NINE dot ARTS Doug Weiss - Gallus Medical Detox Centers Michael Welty - Hartford Homes LLC Meredith Wenskoski Livable Cities Studio Dustin White - Visa, Inc. *Scott Wiley Growcentia, Inc. Ashley Williams Innova Emergency Medical Associates Elena Wuchner EON Office Becky Zimmermann Design Workshop # # #   About Titan 100 The Titan 100 is a national program that recognizes the top 100 CEO's and C-level executives in a region. Representing both the private and public sector, these Titans of Industry demonstrate exceptional leadership, vision, passion, and influence in their field. The Titan 100 are recognized at an annual awards event, published in the Titan 100 book, and given the opportunity to connect multiple times throughout the year with their fellow Titans. Titans must be nominated and selected annually with the pinnacle achievement of being recognized as an elite Hall of Fame honoree in their third year. The Titan 100 is one of the fastest-growing, most powerful communities of executives across the nation. Learn more at www.titan100.biz   About Wipfli LLP With more than 70,000 clients and approximately 3,100 associates, Wipfli ranks among the largest accounting and advisory firms in the nation. We bring integrated solutions to help our clients turn data into insights, optimize workflows, increase margins, and transform through digital innovation. Press Contact: Cristina Dowl Senior Program Manager TitanCEO CDowl@TitanCEO.com 720.765.4208 www.titan100.biz Wed, 15 Mar 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11743/Ceyl-Prinster--CEF-s-President-and-CEO-Selected-as-Titan-100 http://coloradoenterprisefund.org/blog/11620/Small-Business-Spotlight--Beeda-s-Thingamajigits blog "Paying myself after 2 years of opening a business is something that would not have been possible without the help of CEF!" – Caleb Gilbert, Owner of Beeda's Thimamajigits Fort Collins, CO | Owner: Caleb Gilbert Retail Services Business www.beedasthingamajigits.com Q&A with Owner, Caleb Filbert  Give a high-level overview of your business. We're an exciting local comic shop. We carry all sorts of comic books from really old to really new. We also dabble in toys and board games, but our primary focus are comic books. We specialize in cleaning and heat pressing older books as well as grading submissions. We have the largest collection in Northern Colorado and the largest graded slab collection as well. How did the idea for your business come about? I hadn't picked up a comic in about 10 years; my nephew recommended a comic called Saga by Brian K. Vaughan. It rekindled my relationship with comics and gave me a small bit of joy during a time that joy was hard to come by. That bit of joy prompted me to craft a new dream and follow it through. What neighborhood is your business located in and what do you love about that location? We're located in Downtown Fort Collins which is a wonderful place. It's a tourist destination plus a local haunt. Last year a long-standing comic shop located in the same area closed so I'm glad to keep the comic tradition alive in Downtown Fort Collins. What shift in your business led you to seek out new/additional funding? As mentioned above, the local shop decided to close their doors after 32 years. This was an opportunity to increase inventory as well and gain a new customer base. It was perfect timing on all fronts. How did you find out about CEF? My local banker referred me after my initial funding hunt. What was different about working with CEF compared to other lenders? CEF was friendly and helped explain the whole process from the beginning. The numerous people I interacted with along the way were very adept at getting back in touch when as I moved through the process. What were you able to do with the funding you received from CEF? I was able to expand my customer base, inventory, and ultimately start giving myself a paycheck here and there. Paying myself after 2 years of opening a business is something that would not have been possible without the help of CEF. What's on the horizon for you and your small business? We're working on expanding our presence here in town as well as online. We ship all across the country, but our focus right now is our local community. We want to offer our products and services to Fort Collins and Northern Colorado in a greater capacity. What is something you're looking forward to in the next 3-6 months in your business? We've enacted a few local advertising campaigns that start up in the next couple of months so we're excited to see the return and meet some new faces in the store. What do you love about the small business community in Colorado? The small business community in Colorado is incredibly supportive and has given me an extraordinary number of resources. The depth and kindness of small business owners here is beyond anything I could have imagined.              Tue, 14 Mar 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11620/Small-Business-Spotlight--Beeda-s-Thingamajigits http://coloradoenterprisefund.org/blog/11555/Small-Business-Spotlight--Patterbar blog "With the funding we received from CEF, we were able to purchase larger quantities of ingredients and initiate new marketing efforts." – Patter Gersuk, Owner of Patterbar Denver, CO | Owner: Patter Gersuk Woman-Owned Food, Beverage, and Agriculture Services Business www.patterbar.com Q&A with Owner, Patter Gersuk Give a high-level overview of your business. Patterbars are a whole-food energy bar, produced in Denver, Colorado. We are a female-owned, family-run business, that started in 2018. How did the idea for your business come about? I used to make these bars for my children because I couldn't find snacks with whole-food ingredients. In 2018, my athletic son-in-law encouraged me to produce and sell them as there was nothing else like them on the market. Every single ingredient in my bar is 100% pure food. How long have you been in your industry and what do you love most about your industry? I have been in the industry for 33 years in a professional capacity. I love the creativity and diversity: there are endless sources of inspiration and opportunity. What shift in your business led you to seek out new/additional funding? We are growing. And growth requires money. In order to move to the next phase, to satisfy customer demand, we had to pursue new funding. What was your experience like when trying to get funding for your business? Ie, how long had you been looking? Did you experience any challenges? I was seeking funding opportunities for at least two years, and experienced significant challenges. We were categorized as a seasonal business and our profit margins were low because we were so new and hadn't yet had an opportunity to capitalize on economies of scale. What was your experience like in working with CEF? Fantastic, from day one. They were clear, supportive, and told us exactly what to expect. We received recommendations to make the process go more smoothly. They were also incredibly responsive during the application and subsequent review process. What were you able to do with the funding you received from CEF? With the funding we received from CEF, we were able to purchase larger quantities of ingredients and initiate new marketing efforts. What's on the horizon for you and your small business? Expanding our customer base in Colorado and beyond, new products and flavors, and some new exciting markets! What recent success(es) have you experienced in your business? We are working with a new co-packer and a new local distributor. We have a great start to the farmer's market season! What do you love about the small business community in Colorado? The small business community in Colorado is incredibly supportive and has given me an extraordinary number of resources. The depth and kindness of small business owners here is beyond anything I could have imagined.                          Thu, 16 Feb 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11555/Small-Business-Spotlight--Patterbar http://coloradoenterprisefund.org/blog/11509/Small-Business-Spotlight--Nude-Foods-Market blog "The funding from CEF enabled us to transition from being a purely delivery based grocery store to opening a brick and mortar store which means we immediately became more accesible to more people!" – Matthew Arnold, Owner of Nude Foods Boulder, CO | Owner: Matthew Arnold Food, Beverage, and Agriculture Services Start-up Business www.nudefoodsmarket.com Q&A with Owner, Matthew Arnold Give a high-level overview of your business. Nude Foods Market is Boulder's first zero-waste grocery store. It's like a traditional grocery store except there's no plastic packaging in sight - everything comes in reusable, returnable glass jars and is local, organic, or rescued. The store is at 3233 Walnut St (just near Twisted Pine). We're open daily 10am - 7pm and also offer delivery by bike and electric vehicle! How did the idea for your business come about? The average American produces 1,704 pounds of trash each year. That's enough to fill 23 million garbage trucks, which is 50 garbage trucks per minute! We wanted to reduce that so decided to create a zero-waste grocery store. Describe your typical customer and what you love about your customers. Our typical customer is sick of all the plastic waste they are forced to produce simply by eating food from a traditional grocery store. They care about the future of our planet and we love that they're willing to go the extra mile to protect it. Describe your journey in seeking out funding for your business. Ie, where did you first go to for funding, did you lean on credit cards, etc.? We started out by making personal loans to the business and have then relied on a variety of loans and credit cards. Describe your difficulties in obtaining funding for your small business and how that impacted you and your business. We felt that after 2 years of revenue, getting funding from mainstream banks would be easier, but we have seen little difference. This meant we had to cover shortfalls with personal loans, but the need for that is getting less and less as the business grows. What ultimately made you decide to go with CEF as your lender? We love the ethos of CEF and Nude Foods' founders had had great experiences with CEF before. How did the funding you received from CEF make a difference for you, your employees, or even your community? The funding from CEF enabled us to transition from being a purely delivery-based grocery service to opening a brick-and-mortar store that meant we immediately became more accessible to more people! What's on the horizon for you and your small business? Boulder is just the first store. We've already expanded delivery to surrounding towns and are now planning to launch delivery to Denver. Once demand in Denver becomes high enough, we'll open a store. What recent success(es) have you experienced in your business? We were recently picked as one of the top 15 Independent Grocers across the whole US by Progressive Grocer magazine. We also won multiple awards in the Best of Boulder competition. What do you love about the small business community in Colorado? Boulder's small business community is amazing! The way everyone helps each other out, promotes each others' businesses and provides support is like nowhere else I've ever lived.                   Sat, 04 Feb 2023 06:00:00 GMT http://coloradoenterprisefund.org/blog/11509/Small-Business-Spotlight--Nude-Foods-Market http://coloradoenterprisefund.org/blog/10625/Hotel-St--Cloud blog The New Market Tax Credit (NMTC) program was created to incentivize community development and economic growth to attract private investment to distressed communities.  The revitalization of Hotel St. Cloud and the surrounding blocks of downtown Canon City Colorado fit that description well.  If not for the allocation of NMTCs the project may have not happened.   Unbridled, an event management company based in Denver, purchased the 26,000 sf Hotel St. Cloud in 2018. It appeared Unbridled might have to set aside the project due to rising building costs after the pandemic; however, with the help of many private and public parties, including a $3 million Community Revitalization Grant from the Colorado Office of Economic Development and International Trade (OEDIT) and a New Market Tax Credit financing of $9 million from Colorado Enterprise Fund (CEF), this project will break ground November 2022. This $15 million renovation project of a 19th-century building will include a new bar, three restaurants, and a boutique hotel. Hotel St. Cloud is one component of several larger initiatives in Canon City focused on the renewal and revitalization of downtown to spur tourism and bolster the local economy. The revitalization efforts will create quality, living wage jobs to ensure a diverse economic base, a resilient and growing tax base, and long-term economic vitality for local businesses.  As a result of CEF's NMTC financing, the Hotel St. Cloud will create 59 full-time equivalent construction jobs and 39 full-time equivalent permanent jobs. To extend employment opportunities to individuals who might otherwise have difficulty finding a job, Unbridled has formed partnerships with two organizations that assist individuals with a history of mental health issues, substance abuse, houselessness, and incarceration to build job skills and find employment. Unbridled's commitment to Canon City goes beyond Hotel St. Cloud as they have invested in multiple properties in the downtown area. With Unbridled and the city of Canon City focused on revitalizing and building business, CEF is excited to see this community get the attention they need to create economic growth and make Canon City a great place to live and visit.   CEF was recently awarded another $45 million in NMTC allocation by the Community Development Financial Institution Fund of the U.S. Treasury and plans to deploy this through transformative projects that impact the people and communities CEF serves. To learn more about Hotel St. Cloud, please visit: https://thehotelstcloud.com/ and https://www.fox21news.com/features/we-are-canon-city/main-street-landmark-under-renovation/     Tue, 13 Dec 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/10625/Hotel-St--Cloud http://coloradoenterprisefund.org/blog/10624/Clifton-Community-Resource-Campus blog Colorado Enterprise Fund (CEF) is pleased to announce its latest New Market Tax Credit project in Clifton, CO to help provide desperately needed childcare and early childhood education (ECE) services to the Mesa County area.  Mesa County is considered a childcare desert and currently has only enough licensed childcare providers to serve 20% of children ages 0-5. Because options are limited, many working parents have issues finding affordable, reliable, and enriching childcare.  In fact, a 2019 survey of County residents confirmed how much childcare can affect workers' productivity as 71% of employers reported high absenteeism and 68% experienced high turnover - both due to lack of childcare.  The new Clifton Community Resource Campus (CCRC) aims to address this childcare and ECE services shortage and provide other community amenities to its residents.  The campus will be located on a 20-acre lot and include a 22,690 square foot ECE center, an 11,944 square foot ECE training hub, and an 11,970 square foot gymnasium/community hall to allow for family-friendly, safe recreation and community events. The ECE Center will provide 154 early childhood education seats and create 44 jobs. The ECE training hub will help individuals obtain the qualifications and certifications needed in early childhood education. The training hub will establish 15 jobs and help generate a pipeline of licensed ECE childhood educators for years to come. The gymnasium/community hall was combined with the ECE services as the community felt the parks were not safe and they needed an area for kids to recreate. It is anticipated the gymnasium/community hall will also host 95-125 exciting community events each year including concerts, holiday celebrations, sporting events, school dances, and more. Hence, the CCRC achieves the goal of helping working parents have access to needed childcare and providing a place for the community to gather and enjoy for generations.  Additionally, there will be a 25,000 square foot building constructed for the new Clifton library next to the CCRC. While the library was not part of the NMTC project, this will be made possible as an impact of the NMTC financing, allowing the County to use other funds to complete the library. CEF is honored to be a partner in this project and feels the CCRC exemplifies how NMTC projects can impact a community through job creation, reinvigorating the community, and producing a positive outcome for underserved or low-income areas. CEF can't wait to see this new addition to the Clifton community open in 2024! To learn more, please visit: https://www.mesacounty.us/community-halls-project/pages/clifton/ To learn more about CEF New Market Tax Credit projects, please visit: https://coloradoenterprisefund.org/New-Market-Tax-Credit Tue, 06 Dec 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/10624/Clifton-Community-Resource-Campus http://coloradoenterprisefund.org/blog/9968/Small-Business-Spotlight--Montessori-Academy-of-Northern-Colorado blog "The last banker that I dealt with referred me to CEF and they helped me secure my building. I would not have survived COVID without owning it." – Andrea Coe, Owner of Montessori Academy of Northern Colorado Greeley, CO | Owner: Andrea Coe Woman-Owned Early Childhood Education Business www.montessorianc.info   Q&A with Owner, Andrea Coe Give a high level overview of your business. Located in Greeley, we offer full-day and part-time child care and preschool in an authentic Montessori environment. Our highly educated staff provide quality care for children 8 weeks through kindergarten. We are proud of our reputation in the area and it is a privilege to serve our community. How did the idea for your business come about? My mother started a Montessori school in 1970 so my twin brother and I could have the same experience as my older siblings in Iowa. I worked at one of her schools in high school and helped with startups. How long have you been in your industry and what do you love most about your industry? I have been around Montessori schools over 50 years and teaching for over 35 years. Maria Montessori was nominated for the Nobel Peace Prize three times and her vision was Peace through the Child. Children give hope to humanity. Every day is different and the dynamics of each classroom varies each year. What shift in your business led you to seek out new/additional funding? After leasing my current property for 10 years, the owners wanted to sell and I began looking for financing. A banker referred me to CEF where I was able to secure my building. I would not have survived COVID without owning it. How did the funding you received from CEF make a difference for you, your employees, or even your community? Right after I secured owning my building, COVID hit. I was able to stay open and secure further funds to help through the pandemic with the COVID Relief loan from CEF. What recent success(es) have you experienced in your business? We have been nominated by the community for "The Best of Greeley" list for child care centers, which is a nice accomplishment.              Tue, 30 Aug 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/9968/Small-Business-Spotlight--Montessori-Academy-of-Northern-Colorado http://coloradoenterprisefund.org/blog/9860/Small-Business-Spotlight--Zebra-Productions blog "The PPP loan helped us from shutting the doors and the ability to keep paying all my guys!" – John Tabor, Owner, Zebra Productions Colorado Springs, CO | Owner: John Tabor Minority-Owned Professional Services Business www.zebraliveproductions.com   Q&A with Owner, John Tabor Give a high level overview of your business. What products or services you offer, where you're located, etc. We do stage lighting for all kinds of events, including anything from the president coming to town to live concerts, houses of worship, theaters, and festivals. How did the idea for your business come about? I have been in the industry for a while and thought we could meet people's needs with their events in a better way. How long have you been in your industry and what do you love most about your industry? I have been in the industry for about 20 years. I love the networks and friendships that I've had from the start and they just keep getting better. How did the PPP loan you received from CEF make a difference for you, your employees, or even your industry? It really helped me keep on top of rent and utilities during COVID, while my entire industry was shut down. There were no live events and we had to pivot to streaming events and re-tooling what we had to make it work. The PPP loan helped us from shutting the doors and gave us the ability to keep paying all my guys! What advice would you give to another small business owner going through the loan process? Even though I do not like to take on debt, loans are something you have to do every now and then. If a couple of bad months occur, we could still make it. It is a slower journey, but I have been happy with it. What was different about working with CEF compared to other lenders? I found that CEF was more personal than a regular bank. You get a real person who makes you feel really cared for when you contact them. What recent success(es) have you experienced in your business? I just got done working on some national tours and events.                                Tue, 26 Jul 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/9860/Small-Business-Spotlight--Zebra-Productions http://coloradoenterprisefund.org/blog/9574/Small-Business-Spotlight--GoFarm blog "It was not so much a shift, but growth. As our Community Food Access program grew, the interest in our markets exceeded our capacity." – Lindsey Hoffman, Marketing and Fundraising Manager, GoFarm Golden, CO | Owner: Eileen O'Rourke  www.gofarm.org | Food, Beverage, and Agriculture Business   Q&A with Marketing & Fundraising Manager, Lindsey Hoffman Give a high level overview of your business. What products or services you offer, where you're located, etc. GoFarm is a nonprofit organization, based in Golden, Colorado, with a mission to train and support local farmers, connect people with local agriculture, and increase equitable access to nutrient-rich food grown in Colorado. Through this work, we are strengthening the local food system (the process of how food moves from the farm, to our plates, and everything in between). Our work gets us closer to our vision of having a local food system that is equitable, resilient, environmentally sustainable, and inclusive. One in which farmers and farm workers have the resources they need to thrive and farm safely, community members have reliable access to healthy, local, and sustainably grown food, and everyone feels inspired to engage in their local food community. How did the idea for your business come about? GoFarm's founder crafted the idea of GoFarm after doing research on local food systems and recognizing where the gaps existed. GoFarm focuses on increasing the supply of locally-grown food, building necessary infrastructure to distribute food, and ensuring that equity was a priority. How long have you been in your industry and what do you love most about your industry? GoFarm was founded in 2014. Our work spans different industries, including local agriculture, food access, and non-profit. Within these industries, there's desire to work together as a collective force. We love that we can work alongside our partners to better our food system! What shift in your business led you to seek out new/additional funding? It was not so much a shift, but growth. As our Community Food Access program grew, the interest in our markets exceeded our capacity. So we decided to seed funding to purchase a mobile market, a refrigerated vehicle that would allow us to provide more food for people in the community. What was your experience like when trying to get funding for your business? Ie, how long had you been looking? Did you experience difficulties, etc.? As a 501(c)3, we had experience applying for grants to help fund our programs and projects. Though there were always difficulties along the way with finding the right grants that fit our needs. We were grateful that we could apply for funding through CEF and continue to grow our impact! What was your experience like in working with CEF? Overall, it was a positive experience! They understand the importance of local agriculture and increasing food access, and they provide a lot of opportunities for small businesses to obtain low interest loans, which is what our nonprofit needed. Working with our loan officer was especially easy. What were you able to do with the funding you received from CEF? We were able to purchase a Mobile Market, #ChucktheGoFarmTruck, to host food markets across our region. The mobile market helps us achieve our goal of increasing equitable access to nutrient-rich food, and building inclusive spaces where everyone can feel welcome in their local food system. What's on the horizon for you and your small business? We have a lot of plans for GoFarm's future! For example, we'll be hosting more education events, and are hoping to launch a new pricing model for our mobile markets to make our food even more accessible! Join our mailing list at Gofarm.org/join-our-mailing-list to get more updates. What recent success(es) have you experienced in your business? During the past year we had an incredible impact in our community. In 2021, we supported 67 local, sustainable farms and helped 12 beginning farmers start their own farm. We made food more accessible for 1,659 households and sourced $8,956 worth of locally-grown food to 3 food pantries. What do you love about the small business community in Colorado? We love that there is so much camaraderie and support within the small business community of Colorado. We work with so many partners and like-minded organizations who want to support our work, increase equity within the food system, and help combat climate change through sustainable agriculture. Thanks to the following collaboration partners:                                          Thu, 19 May 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/9574/Small-Business-Spotlight--GoFarm http://coloradoenterprisefund.org/blog/8572/How-to-Stay-Competitive-in-a-Changing-Market blog Evaluating market risk can be a challenge for some businesses. Whether you are a new or established business, it is important, however, to evaluate your market risks in the most objective manner possible. Here are three tips for gauging market risk. Customers: Your customers are one of your most valuable assets. To ensure their needs are being met or exceeded, ask them. Tip: Take advantage of cost-effective, easy-to-access options, such as reviewing online feedback you receive or sending automated follow-up surveys through your point of sale system or website. If it makes sense, consider using a third-party service to conduct a survey so your customers can feel free to speak candidly. Vendors: Your vendors have risks too. If their business suffers, it can quickly impact yours too. Tip: Diversify your supply chain by using more than one supplier for products. In the event of an issue, hopefully, this can mitigate some of your exposure. Products: Regularly review your product offerings to determine if you are able to make changes to better respond to customer needs. Tip: Don't be afraid to think outside of the box. You may be able to use existing materials, machinery, or other resources in new and profitable ways. Channels: How you engage with your customers may need to change over time. By staying up-to-date with your target customer's behavior and how to best connect with them, it will allow you to adapt and stay engaged with them. Tip: Consider setting up an online presence to make it easier for potential customers to find your business and engage with you. This may be anything from claiming your online listings, setting up a social media page, to creating a website. Market Considerations: Outside of your internal and external relationships, the market as a whole can shift and affect your business. To stay knowledgeable about potential changes and threats to your industry, gather and review market research and competitor information at least once a year. Tip: Reach out to your local Small Business Development Center (SBDC) or business librarian to request industry reports, consumer expenditure reports, compiled average business expenditure reports, and more. Be sure to review this information at least on an annual basis and any time you are making changes to your business plan or model. Fri, 25 Feb 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/8572/How-to-Stay-Competitive-in-a-Changing-Market http://coloradoenterprisefund.org/blog/7522/Guide-to-Creating-a-Time-Management-Plan blog It is easy for business owners to fall into the trap of working in their business instead of working on their business. Making time to work on your business is critical. It will allow you to build a sustainable business and take time away from the day-to-day, which helps prevent burnout. Four benefits of successful time management are: Increased business, which creates more income Increased focus and organization Less stress More time for family, friends, and other interests In business, your plan will help you prioritize your work and keep you focused on completing the most important tasks every day. A good time management plan must be in writing and contain a list of prioritized tasks on a daily, weekly, and monthly basis for achieving your goals. Here are three steps for creating your plan. Step 1: Clearly define your goals – Utilize SMART goal formatting and identify each as a short-term (quarterly), mid-term (12 month), or long-term (2 to 5 year) goal. Example: A general goal is 'I will increase my sales this year' while a SMART goal is 'I will generate a minimum of $6,000 in sales each month, beginning in November of this year.' Step 2: Breakdown each goal into clearly defined tasks – Identify the "who, what, when, how, and why" for completing each goal. By determining what needs to be done to achieve each goal, not only will it create a plan of action but it will also allow you to see what resources are needed and how to allocate them. Tip: Determine how your goals align with your business plan and review them monthly or quarterly to ensure continued alignment. Step 3: Prioritize your tasks – Assign a priority level (low, medium, or high) to every task under each step. Once you know the levels, rearrange your tasks in order of priority and allocate ample time to the most critical tasks. Tip: Always try to complete the most important tasks first. They usually have the greatest impact on your goals and, in turn, your bottom line. As with most plans, this should be a live document that you continuously review and update. And remember, while it is important to keep making progress towards your goals, be sure not to neglect your on-going business activities such as handling administrative tasks, maintaining inventory, and managing your financial records. CEF's advisors provide helpful suggestions of an educational nature that are not intended to mandate or supersede the business practices or decisions of your Company, its owners, or managers. The information provided in this guide does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available herein are for general informational purposes only. You should contact your attorney to understand your rights and for legal advice about your specific situation. This information was created in partnership with Northern Initiatives and participating entities through Initiate Prosperity. Check out the full library of small business resources on the Initiate Prosperity: Powered by CEF site. Mon, 10 Jan 2022 06:00:00 GMT http://coloradoenterprisefund.org/blog/7522/Guide-to-Creating-a-Time-Management-Plan http://coloradoenterprisefund.org/blog/7046/Small-Business-Spotlight--FERAL blog "Everyone does something that we do, but there are very few stores that do everything we do." – Jimmy Funkhouser, Owner, FERAL  Denver, CO | Owner: Jimmy Funkhouser www.liveferal.com | Retail Services In 2016, Jimmy Funkhouser decided to quit his 10-year corporate career and follow his dream of opening an outdoor gear shop. Four short months after making that decision, and with the help of a loan from CEF, Jimmy opened FERAL Mountain Co. At first glance, FERAL might look like any other outdoor store. Look closer and you'll see how Jimmy has built more than that. FERAL is focused on community, sustainability, and, of course, the outdoors. Through its used gear program, and repair and restoration services, FERAL encourages outdoor enthusiasts to repair or sell their gear before buying new - helping to reduce waste and making gear more affordable and accessible for all. Like any small business owner, Jimmy has faced challenges with his small business. In 2018, the store was forced out of its original location when their landlord decided to redevelop the Tennyson Street property. After raising $100k from the community via crowdfunding, FERAL reopened in a building down the street, keeping the business alive and even expanding its footprint. With the COVID-19 business closures, Jimmy faced the threat of shutting his doors for good yet again. However, he was determined not to let that happen and sought out funding via the SBA Paycheck Protection Program. "The PPP loan through CEF saved our business," he tells. Jimmy's determination and commitment to his community have paid off and the FERAL team is happy to continue making experiencing the outdoors more inclusive for all through their mission, "Create adventure."   Tue, 07 Dec 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/7046/Small-Business-Spotlight--FERAL http://coloradoenterprisefund.org/blog/7049/Small-Business-Spotlight--Sewer-Experts-Inc blog "Everything I worked for was going to be gone in a matter of three months and I was living on a prayer." – Marisa Beaver, Owner, Sewer Experts Inc. Commerce City, CO | Owner: Marisa Beaver | www.sewerex.com  Woman & Minority-Owned Construction Business MBE Loan Program | Commerce City Community Loan Pool | Adams County Community Loan Pool   When Marisa Beaver first started her demolition, excavation, sewer, and water company, Sewer Experts, they had a backlog of contracts. But even with this backlog of work, payments were slow to come in and Marisa struggled with having the cash flow to sustain the company. She knew she needed to seek out financial support, fast. Marisa took out a loan thinking the high interest that went along with it was inevitable. Then, after projects were put on hold and winter hit, further slowing business, she realized she was facing a dire situation - Marisa had put her house as collateral on the loan and was one payment away from losing it and her entire company. "I turned to a friend and he encouraged me to find something other than a shark loan... I spent all night calling place after place when someone in Ohio directed me to CEF," Marisa tells. After securing a loan with CEF, Marisa was able to pay off her other loan. She recounts, "I was able to breathe for the first time in six months." In addition to her first loan, Marisa also received two Paycheck Protection Program loans through CEF. "Because of them, I was able to start another company and hire four people during the pandemic," she explains. With the faith of a mustard seed, Marisa continues to defy the odds in this male-dominated industry. Sewer Experts recently landed an on-call Denver Housing Authority contract and was also featured on the cover of a national magazine, Dig Different. Marisa tells of an accomplishment even more important to her though, stating, "The biggest win is we are able to provide for ten employees and their families and I am so blessed to be able to help do that." Thanks to the following collaboration partners:          .       .       Tue, 07 Dec 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/7049/Small-Business-Spotlight--Sewer-Experts-Inc http://coloradoenterprisefund.org/blog/7051/Small-Business-Spotlight--Chambers-Place blog "CEF was amazing to work with! In addition to their own support, they were even able to bring a health foundation to the project with a low interest loan to complete the package. Their commitment to helping the community really shows in everything they do." – Chris Leevers Owner, Chambrs Place Thornton, CO | Owner: Chris Leevers | www.savealot.com Minority-Owned Retail Services | MBE & HFFI Loan Programs When an old Safeway grocery store closed its doors in the Montbello neighborhood six years ago, the other stores in the shopping center soon started departing, too. Once an economic hub filled with locals shopping for fresh groceries as well as other goods and services, the abandoned strip mall created even further disparity in the already distressed neighborhood. But brothers Chris and John Leevers were determined to reinvigorate the area and set out to redevelop the approximately 80,000 square feet of commercial real estate space they called Chambers Place. Their plan? Bring their employee-owned supermarket, Save-A-Lot, into the grocery space and bring other healthoriented tenants into the other open units. Though the Leevers already had some bank funding for the project, it only covered about half of the total project costs. They looked for more than two years for the additional financing before finding CEF, who was able to fill their funding gap by working as the lead lender for three nonprofit investors in a mezzanine loan to the project. [CEF's] organization and support was critical in bringing this project and center back to life," says Chris. In addition to the Save-A-Lot, other tenants like Planet Fitness, a DaVita dialysis clinic, and Early Success Academy (another CEF borrower), help to address the many social needs of a community with health disparities and high poverty levels. "We try to go one step further by working with customers to build healthier families and communities," says John. This shows not only in the abundance of health-oriented tenants at Chambers Place but is also evident in the unique use of the Save-A-Lot Community Room – a space for cooking and nutrition classes, community meetings, and health screenings. This once run-down shopping center is now booming with activity. The overall health, fitness, and family orientation, along with the 80+ jobs created within the shopping center has created positive community impact that will last for years to come. Thanks to the following collaboration partners:               .       .      Tue, 07 Dec 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/7051/Small-Business-Spotlight--Chambers-Place http://coloradoenterprisefund.org/blog/7052/Small-Business-Spotlight--Eagle-Synergistic blog "The BAS team has extra insight I didn't have, and Jason has been there for me in crucial times. He understands what I'm dealing with and gives me strategy recommendations at times when I'm about to make a big decision." – Janet Castle, Owner, Eagles Synergistic Golden, CO | Owner: Janet Castle  www.eaglesynergistic.com | Professional Services  Traditional methods of environmental investigations can take years and even decades. But with new subsurface imaging technologies, it's possible to successfully pinpoint soil and groundwater contamination much more efficiently and, therefore, more quickly. Janet Castle started Eagle Synergistic because of her passion and desire to do something to help improve water quality. "It's pretty scary. People don't realize how much contamination there is," she tells. "With our new subsurface investigation technologies, we can tell our clients exactly where the contamination is located in the subsurface in only a few days." To start her company, Janet utilized her own funds and was able to secure additional financing from a bank. But, just before the loan closed, the bank cut it short, leaving Janet short on the cash she needed to get things going. That's when Janet's bank suggested she reach out to CEF, who was able to step in and quickly get her the remaining funds required. From there, Eagle Synergistic has grown and now has six full-time and three part-time employees who work out of the office in Denver and out in the field in the "command center" subsurface imaging units. Janet is excited to close out this year strong. To give things an extra boost, she's worked with the CEF Business Acceleration Services (BAS) team to discover new avenues to grow revenue more quickly, different ways to acquire equipment, and where she can cut costs. "This is something that needs to be done to help alleviate the contamination in our drinking water crisis. That's why I started this business," she passionately explains. For this single mom who put it all on the line in order to try to make a difference, the risk is worth the reward and the difference she can make. Thanks to the following collaboration partner: .           Tue, 07 Dec 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/7052/Small-Business-Spotlight--Eagle-Synergistic http://coloradoenterprisefund.org/blog/6977/Program-Highlight--CEF-s-Black-Business-Loan-Fund---Why-Now-and-What-s-Next- blog This blog post is co-authored by Ryan Guyton, CEF Community Lending Officer, and Osa Aihie, CEF Business Accelerations Services Advisor Ryan Guyton | Community Lending Officer Connect with me on LinkedIn As a Black man from Colorado with a background in banking, I know all too well the difficulties we as Black people face, especially when it comes to entrepreneurial advances and access to capital. I've worked on both sides of the financial spectrum - in the corporate banking world and now as a Community Lending Officer for nonprofit lender and CDFI, Colorado Enterprise Fund. Through this experience, I've seen firsthand how corporate banking can be very bleak in terms of encouraging Black people to make life changing financial decisions. When a bank denies the loan request of an aspiring entrepreneur, that small business owner is left to seek out other options like borrowing from family, high-interest credit cards, or other non-sustainable means. At CEF, we live by the idea that access to capital should be possible for entrepreneurs, regardless of the color of their skin or other demographics. After experiencing the unfavorable attitude of corporate banks towards Blacks, I was encouraged to see the number of and increase in Black businesses we serve at Colorado Enterprise Fund. According to a 2019 Federal Reserve Bank of Atlanta report on business credit for minority-owned firms 61% of Black-Owned businesses are either denied or receive less funding than requested on their application compared to 38% of white-owned firms. In Colorado, Blacks are 4% of the population and own just 2% of Colorado small businesses; yet, here at CEF, 10% of our FY19 lending activity went to Black-Owned businesses. More recently, CEF has seen demand from Black entrepreneurs for our products and services grow sharply, with the number of loans originated to Black firms increasing by 45% in FY19 when we helped 22 Black-Owned businesses access $675K of capital.     CEF, as well as some of our funding partners, recognized this growing demand and set out to formalize a Black Business Initiative, making the commitment to this community that we would be more intentional in our support of them, and ultimately our own accountability to them as a financial institution. Our Black Business Initiative, which includes a loan fund with capital designated specifically for Black businesses, is the start of that.   Through funding support from Wells Fargo, we're also able to offer business coaching assistance and other business development opportunities. These wrap around services help businesses start and stay in business – something that, especially during the last 18+ months of fallout from closures due to COVID-19, has been critical in helping these businesses stay afloat.  Now that I have transitioned to non-profit lending, I see the world in a new lens, a perspective that is intentional about growth and change for the "under dog".  I take pride in knowing I have the ability and responsibility to cultivate change within our community.     Osa Aihie | BAS Advisor Connect with me on LinkedIn The loans and business support available to Black-Owned businesses in Colorado through our Black Business Initiative is an actionable step towards the right direction. I have a deep passion for entrepreneurship because I know the economic mobility it can bring. As a BAS Advisor at CEF, I constantly remain aware of the thin line between supporting entrepreneurs and over-stepping. As a CDFI, Colorado Enterprise Fund is working to do the same with the communities it supports. The Black Business loan fund isn't just a chance to support economic mobility within the Black business community, it's an opportunity for us to listen, learn and then build collectively with the community. As a Black man, nothing excites me more than the opportunity to collaborate with the individuals and organizations fighting to increase success for Black-Owned small businesses. The next step for us in furthering our Black Business Initiative is to implement a Black Business Advisory Board. This Board is meant to be the voice of reason and concern for the needs of the Black community as it relates to small business advancement and access to capital. We vow to see you, hear you and appreciate the relationship we will build within the community. If you are interested in joining this advisory board, or know a leader within the community who would be a good candidate, let us know! We are currently looking for nominations and plan to kick off our first meeting early 2022.   Download the Black Business Advisory Board Informational Flyer >   Want to get involved or have someone to nominate for the Black Business Advisory Board? Contact Ryan or Osa to learn more:   Ryan Guyton | Community Lending Officer | ryan@coloradoenterprisefund.org Osa Aihie | BAS Advisor | osa@coloradoenterprisefund.org   Get to Know Black-Owned Small Businesses We've Worked With Read the stories of some of the wonderful businesses in the CEF family Coffee at The Point | Ryan Cobbins TeaLee's Tea House and Bookstore | Louis Freeman & Rise Jones Mustard Seed Construction / Sewer Experts | Marissa Beaver   CEF's advisors provide helpful suggestions of an educational nature that are not intended to mandate or supersede the business practices or decisions of your Company, its owners, or managers. The information provided here does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available herein are for general informational purposes only. You should contact your attorney to understand your rights and for legal advice about your specific situation.   Tue, 23 Nov 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/6977/Program-Highlight--CEF-s-Black-Business-Loan-Fund---Why-Now-and-What-s-Next- http://coloradoenterprisefund.org/blog/7343/PPP-Heroes-to-be-recognized-by-Governor-Polis blog Source: Colorado Office of Economic Development and International Trade (OEDIT): https://oedit.colorado.gov/press-release/ppp-heroes-to-be-recognized-by-governor-polis Mon, 30 Aug 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/7343/PPP-Heroes-to-be-recognized-by-Governor-Polis http://coloradoenterprisefund.org/blog/6709/Colorado-Enterprise-Fund-s-Ceyl-Prinster-Receives-Denver-Business-Journal-s-2021-Outstanding-Women-in-Business-Lifetime-Achievement-Award- blog Denver, CO (August 20, 2021) – Colorado Enterprise Fund (CEF), a nonprofit lender that provides capital and coaching to small businesses and start-ups unable to obtain funding through traditional banks, is incredibly proud to announce their President and CEO, Ceyl Prinster, as the 2021 recipient of The Denver Business Journal's Outstanding Women in Business Lifetime Achievement Award.   This is The Denver Business Journal's 23rd Outstanding Women in Business awards program, honoring women for their accomplishments in 12 categories, with one Lifetime Achievement Award winner. Presented annually by the publication, nominees are judged on their leadership, contributions and innovations within their organization, as well as their community involvement. Ceyl was recognized at the virtual awards program, which was held on Thursday, August 19.   "If the past 16 months have taught us anything, it's the important role that small businesses and diversity play in the Denver-metro-area community," said Kevin Pitts, Denver Business Journal Market President and Publisher. "Over nearly 35 years, Ceyl's leadership at Colorado Enterprise Fund has meant $163 million in lifeline loans for the small businesses that make Denver the innovative national leader that it is, with a focus on underserved entrepreneurs and communities. That work — combined with her mentorship and community service — obviously stood out to the program's judges as they scored hundreds of deserving nominations. DBJ's mission is to help our readers grow their businesses, advance their careers and simplify their business lives, and there's a strong alignment between that duty and Ceyl's work at CEF. I congratulate her on receiving the coveted Outstanding Women in Business Lifetime Achievement Award and look forward to recognizing her at our 2021 virtual awards ceremony on Aug. 19."  In 1987, Ceyl became the first employee of CEF, taking the mantle as President and CEO. Stepping into a male-dominated industry, Ceyl embraced CEF's mission from day one, and has grown the nonprofit into an award-winning, nationally recognized community lender, creating permeating impact for small businesses, communities, the local economy, and more. A pioneer of and a national leader in community development finance, Ceyl has dedicated her career to the organization, its mission, and her team. She has used her expertise and connections to make significant impacts within the small business community, and she is consistently called upon for her expertise, advice, and insight. Her leadership is exemplified through CEF's year-over-year growth by positioning the nonprofit as a trusted and nationally known leader in their industry.  "I have always forged my own path, whether that's being among the first female graduating class at my alma mater, Notre Dame, to being an early advocate for expanding access to capital to grow the small business economy," says Ceyl. "Receiving this award is an immense honor, particularly because it recognizes our organization's positive impact on Colorado's vibrant and innovative small business community."   Guided by Ceyl's energy and leadership, CEF has grown from $200 thousand in assets to $65 million, and has made $163 million in loans to 5,132 small businesses that could not obtain funding from mainstream sources. Nearly 30,000 jobs have been created/retained as a result of those small business investments. With Ceyl at the helm, 2020 was CEF's largest lending year since it was founded 45 years ago. When COVID-19 hit, and small businesses were forced to close, CEF pivoted to navigate the new landscape, resulting in an unprecedented year of impact. In total, CEF approved 2,633 new loans or grants and deployed $52 million. Of that, $18 million was provided as PPP loans to 779 borrowers and $5.1 million was provided as 183 COVID-19 Relief Loans. Through their core lending programs, CEF provided $8.9M in loans to 151 businesses. CEF also provided 4,864 hours of free coaching to help businesses through this period of little or no revenue. Through their coaching and access to capital, and with the help of many funding partners who helped make it possible, CEF helped more small businesses than in the last few years combined.  Under her leadership, CEF has received numerous awards, including the 2018 Martin Luther King, Jr. Award and the 2017 Impact Catalyst Award. Under Ceyl's leadership, CEF was the recipient of the Jody C. Raskind Award in 2019, which honors mission lenders that demonstrate extraordinary commitment to the creation, growth and expansion of small businesses in underserved markets with a demonstrable impact on the communities it serves. Ceyl was also the recipient of the DBJ's Outstanding Women in Business in 2011 and the 2018 David E. Bailey Award as Small Business Advocate of the Year from the Denver Chamber of Commerce.  Outside of leading and growing the 45-year-old nonprofit, Ceyl's additional community involvement comes naturally and largely focuses on fair access to capital and advocacy for underserved groups. "People are invested in their businesses...it's part of who they are. It's my role to say, you can do this and have this dream," says Ceyl.  About Colorado Enterprise Fund   Founded in 1976, Colorado Enterprise Fund (CEF) provides loans up to $1M to finance small businesses and startups unable to obtain funding through traditional banks. CEF has dispersed more than 5,000 loans totaling more than $163M in startup and growth capital and created or retained over 27,585 jobs in the state. A nonprofit Community Development Financial Institution (CDFI), CEF is based in Denver with lending services available statewide. CEF makes a positive impact on Colorado's economy by accelerating community prosperity through its financing and support of entrepreneurs and small businesses across the state. For more information, visit: www.coloradoenterprisefund.org   ______________________________________________________________________________________________________________________________________________________ Check out Denver Business Journal's article "Outstanding Women in Business Lifetime Achievement Award winner Ceyl Prinster is a lifeline for Denver-area small businesses." Source: https://www.bizjournals.com/denver/news/2021/08/20/dbj-outstanding-women-in-business-ceyl-prinster.html Fri, 20 Aug 2021 06:00:00 GMT http://coloradoenterprisefund.org/blog/6709/Colorado-Enterprise-Fund-s-Ceyl-Prinster-Receives-Denver-Business-Journal-s-2021-Outstanding-Women-in-Business-Lifetime-Achievement-Award- http://coloradoenterprisefund.org/blog/2821/Small-Business-Spotlight--The-Children-s-Health-Place blog   "I tried to see what options there were for a veteran trying to start a small business, but the traditional banks were not concerned about my veteran status." – Abe Herrera, Owner Greely, CO | Owner: Abe Herrera | www.mytchp.com Minority-Owned Health Services | Weld County Loan Pool | MBE & VALOR Loan Programs START The Children's Health Place in Greeley has been a go-to for families to tend to their children's health needs since 1983. Today, thanks to veteran Abe Herrera, it's the city's last standing independent pediatric practice. Abe started working at the practice in 2013 under the original founder, Dr. Dubynsky before purchasing it in March of 2019. "I wondered what would happen when my boss was ready to retire. This is my neighborhood, my community, and we do wonderful things here. I felt compelled to take over and continue the legacy of The Children's Health Place," says Abe. GROW A 21-year Army veteran with a master's degree in organizational leadership, Abe turned to banks to get a small business loan for the purchase of the practice. But several banks turned him down. "I tried to see what options there were for a veteran trying to start a small business, but the traditional banks were not concerned about my veteran status," he recalls. Giving up wasn't an option for Abe, though, and thanks to a recommendation from one of the banks, he reached out to Colorado Enterprise Fund where he was able to secure funding. With funding from CEF locked in, and the future of the Children's Health Place secured, Abe was ready to focus on his new business venture. THRIVE The next phase for The Children's Health Place? Grow their footprint to expand their services and serve more patients.  With six exam rooms currently, Abe is adding an additional seven rooms; three of which he plans to lease out to a pediatric physical therapist, a speech pathologist and an occupational therapist, making the practice a one-stop-shop for children's health care needs. The importance of this growth goes beyond childcare. "Right now, we have to refer families to outside providers for these services. By bringing these providers onsite, not only are we simplifying health care for families, but we're helping other small businesses in our community, as well," Abe tells. Thanks to the following collaboration partners:             Wed, 17 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2821/Small-Business-Spotlight--The-Children-s-Health-Place http://coloradoenterprisefund.org/blog/2816/Small-Business-Spotlight--Saladworks blog Colorado Springs, CO | Owner: Carmela Wootan | www.saladworks.com Food Services | VALOR Loan Program START Eating healthy has always been a priority for Carmela Wootan, a mother and wife who also serves in the U.S. Army. While overseas in Korea, she frequented a salad bar to fill up on the nutrients needed to fuel her active lifestyle. When she came back home after a year of deployment, she realized there weren't many healthy food options available in Colorado Springs and missed having a quick but healthy place to eat. Carmela is no stranger to starting and running a franchise – she opened a Smoothie King in 2011 in Colorado Springs – but she wanted to provide her community something more, something different. After some research, Carmela and her cousin, Nakoma Pratt (who is active duty Air Force and a fitness enthusiast), decided to bring a new healthy fast-casual dining option to their neighborhood. Their franchise, Saladworks, opened in April 2019 and is the first Saladworks to open in Colorado. GROW To get their franchise up and running, the cousins needed capital to purchase restaurant equipment. Having heard of Colorado Enterprise Fund in the past, Carmela reached out and was quickly able to obtain a loan from CEF. Saladworks has been bustling with customers ever since their opening. "I enjoy serving the community... giving them something healthy to eat. I wouldn't go into business if I wouldn't want that thing for myself," Carmela tells. THRIVE Cousins Carmela and Nakoma are now looking at opening a second location on base at Fort Carson. "The 'healthy' option on base is when you order vegetables as your toppings on a pizza," Carmela explains with a chuckle. Giving her community a place where they can fill their tummies with the fresh offerings of Saladworks is reason enough for Carmela to be in this business. What matters to her even more, though, is providing people a place where they can, "walk away feeling happy about their food selection." Thanks to the following collaboration partners:                 Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2816/Small-Business-Spotlight--Saladworks http://coloradoenterprisefund.org/blog/2817/Small-Business-Spotlight--Dry-Land-Distillers blog "We're really thrilled to be one of many small businesses that CEF supports. It's a great match." – Marc Statts, Co-owner, Dry Land Distillers Longmont, CO | Owners: Aaron, Nels, & Marc Statts www.drylanddistillerscom | Food Services VALOR Loan Program   START The influence of the West can be seen in home and fashion trends, and tasted in foods created from native wildlife and crops. But the ability to sip Colorado's unique essence? Now you can. Meet the trio behind Dry Land Distillers, a new veteran-owned small business that opened in spring 2018 on Longmont's Main Street. Founders Aaron Main, Marc Staats and Nels Wroe have brought new meaning to "locally-sourced and crafted" beverages with their signature Heirloom Wheat Whiskey and an original Cactus spirit made from native Colorado varieties of prickly-pear cactus. Using indigenous botanicals, including native grains and plants, these entrepreneurs have created complex flavors from distilling ingredients unique to the spirits industry. GROW To finance their dream, Nels looked into bank financing which wasn't well suited to small business operating capital. He was referred to Colorado Enterprise Fund (CEF) for financing through its VALOR veteran loan program with Aaron and Marc's military service qualifying the business for discounted loan rates and terms. "CEF helped us get to the next phase of production," Marc shared, "with the purchase of new equipment and raw materials for a new product line." The trio also worked with CEF's Business Acceleration Services (BAS) consulting team to streamline operational growth and investments. THRIVE The Dry Land Distillers startup was the result of many years of research and development in the booming craft beverage market combining different backgrounds and skill sets. Nels comes from corporate America and manages operations while Aaron is a Navy veteran and master distiller. Marc, on active duty, brings expertise running supply chains on the East Coast for the Department of Defense. Together these three entrepreneurs have turned their love of Colorado into a profitable business and found a way to generate opportunities for others by creating new jobs, using local suppliers, and contributing to the local economy. "We took a huge leap of faith to give people a taste of the West," Mark said. "We're really thrilled to be one of many small businesses that CEF supports. It's a great match." The Veteran Access Loan Opportunity Resource (VALOR) loan program is dedicated to helping veteran entrepreneurs start and grow small businesses in Colorado. The program is made possible through a $2.2 million investment by Bank of America with additional support from the Xcel Energy Foundation. Thanks to the following collaboration partners:              .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2817/Small-Business-Spotlight--Dry-Land-Distillers http://coloradoenterprisefund.org/blog/2818/Small-Business-Spotlight--Early-Success-Academy blog "CEF has taken me from where I was to where I could get better, coaching me along the way. They never stopped supporting me." – Diana Gadison, Founder/Owner Denver, CO | Owner: Diana Gadison | Early Success Academy Women & Minority-Owned Education Services  START As an elementary school principal working in the sprawling Montbello neighborhood of Northeast Denver, Diana Gadison saw a lot of things happening with her students on a daily basis. What she often noticed were children waiting alone outside for long periods of time before and after school. She soon realized the problem – insufficient childcare – and decided to do something about it. After consulting with her mother who managed an in-home childcare business and discovering there were only two local daycare options, Diana looked around for a place where her vision of a childcare center could take root. "My mother and I found a home on the corner, a former crack house," Diana recalled. "We approached the owner about our idea and she agreed to let us take over the note on the property." GROW Having found her place, Diana needed to upgrade the 1200 sf property to meet state licensing requirements for childcare facilities. Initially, she spent all her retirement money dong just that but it wasn't enough. She needed a loan. "I applied to 5 to 6 banks who turned me down, so the property sat unfinished for six months," remarked Diana. "I searched online for other loans and found Colorado Enterprise Fund (CEF). I discovered a friend of mine got a loan from CEF and she recommended I apply." In 1995, Diana got a loan for $10,000, one of many she would receive from CEF, along with timely hands-on business coaching to help set up her center for success. "My CEF consultant advised me on what makes a start-up business successful," Diana said. "And the accountant I met then is still my accountant today!" From her CEF experience, Diana learned that "business is more than a great idea. Surround yourself with professionals to succeed, like people who will give you encouragement and confidence." Like CEF's in-house Business Accelerations Services team. THRIVE Using her first CEF loan to complete renovations to her property and get city permits, Diana opened Early Success Academy in 1996 to take care of 10 children. She quickly outgrew her first facility and moved into a 5000 sf building with the help of another CEF loan, a grant from the City and County of Denver, and her own business income. Diana and her staff of 16 now care for 110 children, having expanded their weekday hours to meet the needs of parents who work various jobs and shifts. Her next goal is to buy and move into a free-standing facility so she can expand her childcare schedule and services to continue to meet the needs of more Montbello families. Diana's contributions to her community and childcare have gotten local and national recognition. Her Early Success Academy is recognized as the only and longest-running childcare facility in Montbello contracted with the Denver Public Schools District. Her center is also certified with the same district to provide HeadStart and speciall needs services, and is affliated with the Denver Preschool Program. In 2011, Diana was a featured speaker at a University of Denver forum highlighting women in business. In the audience were US Representatives Diane DeGette and Nancy Pelosi who invited Diana to Washington, D.C. to address a Democratic congressional committee on how for-profit businesses can successfully partner with government agencies. It was an unforgettable experience, Diana remembers. "CEF has taken me from where I was to where I could get better, coaching me along the way. They never stopped supporting me." .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2818/Small-Business-Spotlight--Early-Success-Academy http://coloradoenterprisefund.org/blog/2819/Small-Business-Spotlight--Fiona-s-Deli-Bakery-and-Catering blog "CEF functions in the same small business environment as our deli. We come back because they really help us to succeed. They always treat us like people, not just an asset." – Elizabeth McBryde, Co-owner Fort Collins, CO | Owners: Scott & Elizabeth McBryde www.fionasdeli.com | Women-Owned Food Services   START From careers in hospitality to becoming small business owners, Elizabeth and Scott McBryde never considered any other option but to work together. Their mutual love of cooking and catering helped them create a business that is a symbol of comforting, tasty and elegant food. Originally located in Fort Collins Old Town area with Scott as chef and Elizabeth overseeing marketing and sales, Fiona's Deli, Bakery and Catering soon outgrew its storefront and moved south of the city in 2006 to larger quarters where Elizabeth and Scott's custom-made deli sandwiches, baked goods and catering services are available daily. Their focus on making "good food" utilizing locally-grown produce, handmade pastas and pastries, and imported ingredients have guaranteed the couple a loyal following for almost 20 years. GROW To grow their business from its beginnings in Old Town, Elizabeth and Scott needed a loan. They were referred by First National Bank to Colorado Enterprise Fund (CEF) where they qualified for several loans, the first one to finance moving to their current location, and others to help them purchase new bakery equipment, hire staff, and refresh their store interior. "CEF functions in the same small business environment as our deli," remarked Elizabeth. "We come back because they really help us to succeed. They always treat us like people, not just an asset." The duo also took advantage of CEF's Business Acceleration Services (BAS) to support their business planning and employee retention efforts. THRIVE Having survived the recession by supporting their community, Elizabeth and Scott continue to provide award-winning service to nonprofits including the Larimer County Victim Response team, humane society, respite care, and Foothills Gateway whose clients get to improve their skills by working at the deli. The McBrydes are also passionate about preserving the independent bakery industry that has declined in Colorado. "We see a need for more resources to be available to small businesses so we can remain competitive," commented Elizabeth. "To have more purchasing power in the next decade will help us and other entrepreneurs stay in business. Despite these challenges and related demands on their time, Elizabeth and Scott remain positive about their decision to own their business and grow with CEF. "Their staff have been with us from the start as both lenders and friends. It's been a fantastic help."   Thanks to the following collaboration partner: .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2819/Small-Business-Spotlight--Fiona-s-Deli-Bakery-and-Catering http://coloradoenterprisefund.org/blog/2820/Small-Business-Spotlight--TeaLee-s-Tea-House-and-Bookstore blog   "CEF was the bridge for us. Its community focus and flexible financing were critical to getting us through a tough time." – Rise Jones, Co-owner Denver, CO | Co-Owner: Rise Jones | www.tealeesdenver.com Woman and Minority-Owned Food Services  START Life-changing events can drive changes in your lifestyle. That was the case for Denver native Rise Jones, co-owner of TeaLee's Tea House and Bookstore, located near the historic Five Points neighborhood where she grew up.  Faced with tackling a rare form of leukemia, Rise's husband and TeaLee's co-owner, Louis Freeman, asked her what she wanted to do after she recovered. She said, "Open a tea house." Specifically, one that would cater to Afro-centric culture and the Five Points community, over soothing cups of tea, cake and conversation. The journey to launch her new small business was almost as challenging as Rise's diagnosis and recovery. From drafting the initial business plan in 2012 to finding a store location in 2015 and initial financing in 2016, Rise and Louis overcame many obstacles to officially open Tealee's in early 2018. "The developer had delays with renovations to the century-old building, so we didn't get our Certificate of Occupancy until November 2017." As a result, they had to refile expired business paperwork and start a GoFundMe page to keep going GROW Rise got help from Colorado Enterprise Fund (CEF) in 2016 after attending a small business workshop where she met a CEF staff member who qualified her for a gap loan. She and Louis also took advantage of CEF's free Business Acceleration Services (BAS) for legal assistance to set up their new business for success. "CEF was the bridge for us," remarked Rise. "Its community focus and flexible financing were critical to getting us through a tough time." THRIVE Now open Tuesday through Saturday with a growing customer base following major media coverage of their opening, Rise and Louis see their business being more than just a tea house.  It's become a gathering place for locals wanting to preserve Denver's rich black history and customs. The cozy shop features African-inspired jewelry, art, textiles, and a bookstore downstairs where afternoon tea is served. Pastries, salads and sandwiches are made from scratch by onsite chef, Olu Augustine, who incorporates North African flavors into TeaLee's menu. Another small business, Chocolate Lab, provides sweets for sale. "CEF is a wonderful organization," Louis said. "They and other angels have come through for us when we needed help." .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2820/Small-Business-Spotlight--TeaLee-s-Tea-House-and-Bookstore http://coloradoenterprisefund.org/blog/2823/Small-Business-Spotlight--Topping-Designs blog "If you're looking for a place that will give you an advantage, CEF is the way to go. They really do treat you as an individual and tailor what they can offer you with what you actually need instead of just a bunch of bologna." – Duane Topping, Owner Denver, CO | Owner: Duane Topping Veteran-Owned Retail Services | VALOR Loan Program   START Having served multiple tours in the U.S. Army, Duane Topping returned home from duty in 2012 and faced a new battle: PTSD. Determined to find an outlet that would help to release him from the confines of the condition, Duane picked up a sewing machine and decided to try something he never had done before – making clothes. Duane always had an interest in fashion, though he isn't what you might envision as your typical women's fashion designer. Rocking his leather jacket and multiple tattoos, Duane is an avid motorcyclist and a military veteran. But stereotypes wouldn't stop Duane and he set out to create a fashion design company that would serve to do the same for women. His company, Topping Designs, is a tangible, inclusive fashion brand meant to encourage a change in perspectives and help free women from labels. GROW About a year after he started sewing, Duane hit the runway and in March 2017, Topping Designs was a part of Denver Fashion Week (DFW). From that, his brand gained great popularity. "After DFW we exploded [but] we're just now starting to build the foundation of this business," Duane explained. Ready to build that foundation, he went to Bank of America to try to obtain funding to help with his branding and marketing. "I went to Bank of America and they said, 'You're not making money,' and I said, 'That's why I'm here!'. Then, they referred me to Colorado Enterprise Fund," Duane recalls about his struggle to obtain financing from the bank. THRIVE Now, with funding from a CEF loan, he has an updated logo, website, and a refined marketing strategy, and Duane is ready to take his company even further. "We were able to reduce our retail costs and now we're testing out a capsule collection, keeping retail at $60-70 per piece," said Duane. With a focus on expanding his social media and web presence, he's already had his best season yet and he doesn't expect it to stop there. "With the help from CEF we have more precision in our goals. It's one thing to know what you need to do and another to have the means to do it." Thanks to the following collaboration partners:         .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2823/Small-Business-Spotlight--Topping-Designs http://coloradoenterprisefund.org/blog/2801/Small-Business-Spotlight--Beltran-s-Meat-Market blog "CEF offers a huge service for the community. Their financial resources and business education is a package deal. To have this all in one place makes a big impact on small business." – Valerie Beltran, Co-owner Broomfield, CO | Owners: Valerie Beltran & Michael Gropper www.beltransmeatarket.com | Woman & Minority-Owned Food Services | Adams County Loan Pool | HHFI & MBE Loan Program   START With roots in Colorado and Mexico, experience running family businesses and an entrepreneurial spirit, it was just a matter of time before Valerie Beltran and her husband, Cesar, opened their own Mexican grill and meat market in Northglenn. Returning to Colorado after the recession, Valerie and Cesar worked in government jobs but felt limited in what they could accomplish. They had raised six children and operated a business in New Mexico. So, opening a small store and market in Northglenn didn't seem that risky. GROW With business plan in hand and a rental space in mind, Valerie went to the City of Northglenn and was referred to Colorado Enterprise Fund (CEF) for financing. She qualified for a loan to help renovate and equip their new business, Beltran's Meat Market. "We've had several loans with Accion and banks," Valerie recalled, "But we had a much more positive, actually, incredible experience dealing with CEF. They were way faster than a bank." THRIVE The store opening went well with sales posting higher than expected. "We couldn't have done what we did like we wanted without CEF," remarked Valerie. Their grocery store/meat market continues to have a big impact on the local community garnering Westword's Best Taco in Denver award in 2018 and the City of Northglenn's Rookie Business of the Year honor. With their children grown, Valerie and Cesar plan to expand the business with CEF's help. As for being an asset to small businesses in Colorado, Valerie responded, "CEF offers a huge service for the community. The financial resources and business education CEF provides is a package deal. To have this all in one place makes a big impact on small business." Thanks to the following collaboration partner: .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2801/Small-Business-Spotlight--Beltran-s-Meat-Market http://coloradoenterprisefund.org/blog/2804/Small-Business-Spotlight--Fortuna-Chocolate blog   "CEF is an incredible resource for entrepreneurs starting out with little credit history or residency in the US but have big ideas. Its mission-based focus matched ours and helped us to achieve our dream." – Siena Trapp Bowie, Co-owner Boulder, CO | Owners: Sienna Trapp Bowie, Aldo Jorge Ramirez, & Spencer Bowie | Woman-Owned Food Serices | Boulder Loan Pool START Cacao beans (or cocoa beans) were discovered thousands of years ago in the Americas. They grow in pods on trees located near the equator. How a singular strain of cocoa bean made its way from the mountains of Mexico to the foothills of Boulder, Colorado, is the story of a globally-minded family seeking to craft a socially-conscious lifestyle with sustainable roots. Sienna Trapp Bowie, co-founder and owner of Fortuna Chocolate, and her brother, Spencer Bowie, each left Boulder to visit Europe, Asia and South America, where they were exposed to local foods and native cultures. "We knew we wanted to start a business in our hometown someday," Sienna recalled, "supporting the organic food movement and mission-based products we enjoyed on our trips." A move to Mexico City set this plan in motion. There, Sienna met her husband, Aldo Ramirez Carrasco, and discovered the rich history of cacao. They went on to spend five years in Tokyo, Japan, where Spencer joined them for two years, to explore the aesthetics and flavors of some of the world's finest flagship chocolatiers, followed by five weeks in Denmark where Sienna and Aldo worked on a family-run farm and brewery outside Copenhagen. The couple returned to Mexico to learn more about the local cacao industry and to seek out the very best producers. They moved back to Boulder and continued to experiment with fine cacao to make artisanal chocolate. GROW When Spencer returned to Boulder from Tokyo, the team was ready to launch the business but needed financing. "I researched online and found the SBA's new LINC program," said Sienna. "I entered our info and got a response from Colorado Enterprise Fund (CEF) about my start-up business plan." She applied and got a loan from CEF in 2015 which allowed her to upgrade a retired mobile library truck the team bought into a custom-designed manufacturing lab where Sienna, Aldo and Spencer produce premium chocolate for public and catered events, samplings and tastings, and local chefs. THRIVE Since opening Fortuna Chocolate, Sienna has grown her business from a sole proprietorship to an LLC. She has also collaborated on large projects with the Denver Botanic Gardens and local restaurants highlighting the origins and uses of cacao. The company sources its cacao beans directly from farmers at several organic single estates in three regions of Mexico. It also supports the Mazateca Women's Embroidery Collective whose local women's clothing designs Sienna hopes to sell in Boulder and Denver. This year, Fortuna Chocolate celebrates its first anniversary which Sienna noted is a tribute to the power of believing in one's vision despite bumps along the way. "CEF is an incredible resource for entrepreneurs starting out with little credit history or residency in the US but have big ideas," Sienna remarked. "Its mission-based focus matched ours and helped us to achieve our dream." Thanks to the following collaboration partner: Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2804/Small-Business-Spotlight--Fortuna-Chocolate http://coloradoenterprisefund.org/blog/2805/Small-Business-Spotlight--Brass-Brewing-Company blog "People are afraid to take risks on new businesses. Not CEF. We really appreciate their faith in us and the VALOR program." – Woody Briggs, Co-owner Colorado Springs, CO | Owners: Woody & Kellee Briggs | www.brassbrewing.com Veteran-Owned Food Services | VALOR Loan Program   START After serving with the US Army in Iraq, veterans Woody and Kellee Briggs relocated to Colorado to raise a family and work in law enforcement and construction management. They also had a dream: to own a brewery catering to their close-knit military and state patrol communities. After two years of looking for space to house their dream, the Briggs found an existing brewery for sale in Colorado Springs. Now they needed a way to purchase and renovate it. This involved visiting many banks with their business plan and connecting with other startup breweries owned by fellow veterans like Launch Pad Brewery in Aurora which Colorado Enterprise Fund (CEF) financed. GROW Eventually, Woody and Kellee watched a video of another startup brewery funded by CEF, Black Shirt Brewing Company in Denver, and attended a CEF workshop focusing on startup breweries. They found the financing they needed for their dream to come true. "We spoke to 18 different people who didn't give us a chance," Woody said. "One did, CEF, who got us our loan." The Briggs became the first official recipients of CEF's new VALOR veteran loan program which was launched on Veteran's Day in 2017. THRIVE Opening in 2018 as Brass Brewing Company, Woody and Kellee now employ 6-9 people part-time including a fulltime Master Brewer and part-time assistant who is a Marine veteran. Giving back to their community is a key part of their business model with 1% of profits donated to organizations supporting veterans, like the Mount Carmel Veterans Service Center. The Briggs also offer $1 off all pints to military members who patronize their business, as well as name many brews after terms commonly used in the military and law enforcement such as Blue Falcon and Sick Call Ranger. To succeed as vetrepreneurs, Woody had some advice for other prospective business owners: Hire people and find mentors who are as dedicated to your vision as you are. As for financing your dream? Woody put it this way. "People are afraid to take risks on new businesses. Not CEF. We really appreciate their faith in us and the VALOR program." The Veteran Access Loan Opportunity Resource (VALOR) loan program is dedicated to helping veteran entrepreneurs start and grow small businesses in Colorado. The program is made possible through a $2.2 million investment by Bank of America with additional support from the Xcel Energy Foundation. Thanks to the following collaboration partners:            .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2805/Small-Business-Spotlight--Brass-Brewing-Company http://coloradoenterprisefund.org/blog/2808/Small-Business-Spotlight--Heritage-Arsenal blog   "A lot of veterans are really entrepreneurial – they have to be creative and inventive during their service. Entrepreneurship is something spouses need, too. They know how to deal with the unexpected and how to manage risk. " – Courtney Linn, President Colorado Springs, CO | President: Courtney Linn | www.heritagearsenal.com Woman-Owned Business | VALOR Loan Program START After 28 years of service in the Army leading parachute infantry, Ranger and Special Forces units, Bill Linn has plenty of military stories to tell. It's not his own stories he's interested in telling, though. Bill and his wife, Courtney, work to tell the stories of the millions of men and women who have served in the US military through their company, Heritage Arsenal, where the Linns provide military museum consulting to a host of international and domestic clients, as well as veteran-focused non-profits. When Bill's time in the service was nearing its end, the Linns started to consider what would come next for them. They noticed a trend in their military community: veterans serving veterans and they decided it was their turn. "We wanted to take on another chapter of our service in a different flavor, a different way," Bill says. And so, Heritage Arsenal was born. GROW The Linns secured a facility but it would need some work in order to be a suitable space to house their thousands of artifacts. Though they were initially turned down for a loan by a bank, the couple knew they had to find someone to fund their renovation project that would allow them to take the next step with their business. That's when they reached out to Colorado Enterprise Fund. "With CEF's VALOR veterans loan program, we felt comfortable knowing they understood where we were coming from," the couple recalls. Their facility renovation, done in DIY fashion mostly by Bill and other Veterans he's served with, provided them a space outfitted with the fixtures necessary for the receipt, triage, certification, and storage of military artifacts. The 4,000 square foot facility is filled with uniforms, medals, helmets, flags, and many more precious items, all ready to be added to exhibits and collections and for their owner's story to be told. THRIVE The Linns are excited to expand their services and are offering something completely new to their industry – donation management – helping families to honor their loved one's service by connecting them to museums to donate their artifacts and furthering Heritage Arsenal's mission to honor and preserve the legacy of military service. Other News on Heritage Arsenal: Fox 31 Denver Stars and Stripes Business Insider Military Times Thanks to the following collaboration partners:      .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2808/Small-Business-Spotlight--Heritage-Arsenal http://coloradoenterprisefund.org/blog/2810/Small-Business-Spotlight--Knotty-Tie-Company blog   "We were so glad we found CEF at the appropriate time for our business." – Jeremy Priest, Co-Owner Denver, CO | Co-Owner: Jeremy Priest | www.knottytie.com Veteran-Owned Retail Business | VALOR Loan Program START Create a way for people to design their own ties in an eco-friendly process using 100% organic fabric and old world craftsmanship, all in the heart of Denver. For college friends, Jeremy Priest and Mark Johnson, that was the idea behind launching the Knotty Tie Company on Kickstarter in 2013. These entrepreneurs also saw their business as a way to "create their own destiny" and employ resettled refugees at the same time. Housed in Denver's historic Santa Fe Arts District, Knotty Tie creates handmade, custom-designed ties, bowties, scarves and pocket squares for individuals, groups and special occasions. Their inspiration comes from their growing fan base and from their passion for originality and quality. A sign of their popularity, Knotty Tie products have been in the spotlight at Red Rocks Amphitheater and the New York Stock Exchange. GROW With increased demand for Knotty Tie products, Jeremy and Mark needed more working capital to cover costs for expanded manufacturing, related training, and staffing. They contacted Colorado Enterprise Fund in 2013 about a loan to buy new equipment and supplies to increase production capacity, and returned in 2015 for more financing to get textile printing and color analysis equipment to reduce production costs and create custom products more rapidly in-house. "We were so glad we found CEF at the appropriate time for our business," recalled Jeremy, a Navy veteran. "CEF helped us grow our business before outside investors were interested, on terms that were very favorable given our mediocre credit, lack of collateral and nascent business model – all while preserving our ownership to share with employees." THRIVE Since partnering with CEF, Knotty Tie sales have more than tripled in each of the past two years. Along with their success, Jeremy and Mark are constantly assessing their operations including hiring and retaining skilled staff. A major focus of their business mission is partnering with the African Community Center to find trained crafts people. "Economic growth is driven by small business," Jeremy said. "CEF plays an instrumental role in ensuring that all segments of Colorado's society can participate and create opportunities for themselves, their families and communities." Thanks to the following collaboration partners:            Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2810/Small-Business-Spotlight--Knotty-Tie-Company http://coloradoenterprisefund.org/blog/2815/Small-Business-Spotlight--Dragonfly-Apparel blog "We found a great community of support and a team to help us make the right decisions to grow and succeed." – Allison Orr, Owner Denver, CO | Owner: Allison Orr www.shopedragonflyapparel.com Woman-Owned Retail Business | Community Advantage SBA Loan Fund START Small is good when it comes to boutiques, Think hands-on customer service, a unique and ever-changing selection of stylish merchandise, great ambiance, and fewer crowds. These are many of the reasons why Allison Orr, owner and manager of Dragonfly Apparel located in the historic Highlands district of northwest Denver, loves her job.  Originally from Kansas with a passion for retail and related experience, Allison and her husband, Casey Orr, moved to Colorado to pursue her dream of owning a store. "I was at the point that I wanted to try to figure out if it was possible to own a business," says Allison. "Denver was a great place to look for this opportunity. Things just fell in to place with Dragonfly." Employed at Dragonfly Apparel as its manager since 2011, Allison, along with Casey, started talking with the store's owners in 2012 about buying the business. Her bosses had relocated to California and were looking for someone to take it over. Allison knew the store's main street location, loyal customer base, and surrounding historic neighborhood boded well for future growth. GROW The challenge was securing financing for their business purchase. "We didn't have enough equity and were frustrated in terms of funding," Casey remarked. "We were looking for a mid-sized loan and were pushed around from loan officer to loan officer." Eventually Allison and Casey contacted Biz2Credit, an online loan service, which referred them to Colorado Enterprise Fund (CEF) where they qualified for an SBA Community Advantage loan in 2015. "The process was streamlined and we were really happy with the experience," remembers Casey. "We found a great community of support and a team to help us make the right decisions to grow and succeed." THRIVE With their CEF loan in hand, Allison and Casey set forth to grow their business. "We increased [staff] hours and hired another person for the weekends when we're busier," Allison confirmed. "We also expanded our product lines and gift inventory to finish the year with the best holiday shopping season ever!" Allison also got more time to explore in-home services like closet consultations, personal shopping and deliveries, plus event planning wardrobes. Since taking over the store, she's met other local businesses interested in collaborating on "eco-fashion" events using pop ups to engage customers, as well as creating custom scents and souvenirs for her store and customers. With all these possibilities, Allison's passion remains with creating and preserving the ultimate hands-on, in-store experience. "We are hoping to offer a unique customer service experience that puts the personal touch back into an increasingly impersonal industry," Allison stated. "We see a lot of growth potential in continuing to establish Dragonfly as an anchor business in Highlands Square."  Thanks to the following collaboration partner: .       Tue, 16 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2815/Small-Business-Spotlight--Dragonfly-Apparel http://coloradoenterprisefund.org/blog/4443/90-Day-Financial-Scenario-Analysis-Guide blog CEF's advisors provide helpful suggestions of an educational nature that are not intended to mandate or supersede the business practices or decisions of your Company, its owners or managers. The information provided in this guide does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available herein are for general informational purposes only. You should contact your attorney to understand your rights and for legal advice about your specific situation. Wed, 10 Jun 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/4443/90-Day-Financial-Scenario-Analysis-Guide http://coloradoenterprisefund.org/userfiles/2161/images/cef%2Ddefault%2Dblog%2Dimage%2Ejpg http://coloradoenterprisefund.org/ http://coloradoenterprisefund.org/blog/2788/Using-a-Brand-to-Make-Your-Business-Stand-Out blog You run a great small business.  People love your product or service and keep coming back for more.  But how can people who do not know your business learn to love it as much as your regular customers? One way is to create a strong brand.  The image and words that make up your brand tell people what's unique about your business in a memorable way.  Memorable because potential buyers are bombarded by hundreds of marketing messages each day from social media, websites and email, plus from traditional media like TV, radio, billboards, bus benches—the list goes on and on. Forbes magazine estimates Americans are hit with 4,000 - 10,000 ads per day.  Your brand message must survive and someway be heard amidst all this clutter!  In the one or two seconds the typical person allows for a first impression, your business must be heard and remembered. A great first step in creating or revitalizing your brand is to follow this Brand Audit Guide.  Once you click the link, if you are not already on Initiate Prosperity:  Powered by Colorado Enterprise Fund, you'll be prompted to create a simple profile.  Pick "Colorado Enterprise Fund" from the dropdown box.  Once you read the Brand Audit Guide, roam around the other small business learning resources as our guest! Author - Robert Anderson, Business Acceleration Services Manager This message is brought to you by Colorado Enterprise Fund, an SBA Microlender.  Because a part of our funding comes from the SBA, our mission is to share knowledge and support with small businesses throughout Colorado.   Thu, 27 Feb 2020 06:00:00 GMT http://coloradoenterprisefund.org/blog/2788/Using-a-Brand-to-Make-Your-Business-Stand-Out http://coloradoenterprisefund.org/blog/7389/Colorado-Enterprise-Fund-Receives-2018-Martin-Luther-King--Jr--Business-Award blog Source - Colorado Biz: https://www.cobizmag.com/colorado-enterprise-fund-receives-2018-martin-luther-king-jr-business-award/ Tue, 16 Jan 2018 06:00:00 GMT http://coloradoenterprisefund.org/blog/7389/Colorado-Enterprise-Fund-Receives-2018-Martin-Luther-King--Jr--Business-Award