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August 2009

In This Issue

Impact Story

DuBach Tool Company

QuickBooks Training Speeds Ahead


CEF is actively lending and you can apply online!
 

 

 

COLORADO ENTERPRISE FUND

 

http://www.Swiftpage6.com/CampResource/2Y0RQSP3HQXPYXKW/2/Text.jpgDuBach Tool Company

DuBach Tool Company is a small manufacturing business located in Englewood with customers all over the country. They specialize in producing unique machine parts, stampings, prototyping and general machining --  all typically in small batches. “What that means is that we make itty-bitty, finicky parts that go in big, complicated machines. The biggest, most complicated ‘machine’ that we supported is the C-130 transport,” comments John Morse, owner. Most of the parts DuBach makes are no bigger than an inch or two, and may have as many as six precision bends. The usual sequence is to stamp out a blank on a punch press and then bend, drill, polish, coat, or all of the above to produce the finished product. They may make only one part for a particular product or company, or dozens. 

In March of 2008, a fire in its facility forced DuBach to move. They jumped at the opportunity to take over a larger space across the alley and still keep the business in the same area. The year prior to the fire had been a good year, leaving DuBach with a healthy surplus to invest in the new location. Then the economy crashed. Despite having a long-term bank relationship, their line of credit was canceled. As John puts it, “The loan from Colorado Enterprise Fund got us over our immediate cash flow problem and we hope it will get us ‘over the hump’ to better times.”

DuBach’s  products are used in a broad range of technologies. For example, two long-time customers represent opposite ends of the textile industry -- hand looms and spinning wheels versus robotic embroidery machines. They also make parts for medical devices, battery contacts, bicycles, floor washers, lawn mowers and even an ambulatory robot. In addition to producing parts from engineers’ drawings, they design and create parts for inventors’ prototypes.

John worked for the previous owners of DuBach Tool Company for about 15 years before he bought them out about 10 years ago. “Becoming the owner of this business had a much bigger effect on me than I had anticipated. Owning is much different than managing,” said Morse. DuBach is one of the oldest businesses in Englewood and goes back to the early 1970’s. “My employees are tinkerers in their own right and the continued well-being of DuBach Tool Company is not merely a paycheck, but also a resource for their own projects,” he said.


With a little help and some patient capital, this 40 year old company will be making itty-bitty widgets for a long time to come!

 

http://www.Swiftpage6.com/CampResource/2Y0RQSP3HQXPYXKW/3/Text.jpgQuickBooks Training Speeds Ahead

Recordkeeping and financial management are important cornerstones for a successful business. For the last year, CEF has been offering “QuickBooks Basics” classes in partnership with SCORE, a training and counseling organization of the Small Business Administration. In addition to partnering with SCORE, we recently co-sponsored a class with the Denver Small Business Development Center (SBDC) on August 24, 2009 at the Denver Metro Chamber of Commerce. The SBDC used its own instructors and CEF’s mobile computer lab for the sold-out class, which was attended by 14 small business owners. It was the first time the SBDC had been able to host a hands-on QuickBooks class in their center,  thanks to CEF’s laptops used for the occasion.  

One of CEF’s key strategies is to support our borrowers with ongoing technical assistance and management training. In August, we provided the QuickBooks class exclusively for CEF Borrowers in our own training lab.  When we sent out the course notification to our borrowers, we had an overwhelmingly positive response and quickly added a second class in September to accommodate all those who wanted the training. The second class will be held on September 10th from 6 p.m. to 9 p.m. We have only a few seats left so if you are a CEF borrower and would like to attend the class, please call Teresa at 303-860-0242, ext. 11 or email her at

teresa@coloradoenterprisefund.org to secure your seat.

 

We look forward to expanding our training partnerships and our own course offerings to build capacity in our borrowers and help other Denver area small businesses.

 

Online Application! 

 

Colorado Enterprise Fund is actively lending and our new online application makes it faster and easier than ever to get a loan!  Take a look at our website and see for yourself our new steamlined process.  Go to www.coloradoenterprisefund.org and click on "Loan Application" on the left side of the homepage.

 

Colorado Enterprise Fund 

1888 Sherman Street, Suite 530 

Denver, CO 80203 

Phone: 303-860-0242 

Fax:     303-860-0409

 

Please visit our website at www.coloradoenterprisefund.org.

 

Colorado Enterprise Fund is a nonprofit community development business loan fund.  Our purpose is to foster economic opportunity and create jobs through business ownership and expansion.  CEF has provided over 850 loans totaling over $17.2 million to Colorado businesses that are not able to obtain adequate bank financing.  We support our borrowers with business counseling and technical assistance to ensure loan repayment and business success.  CEF has been serving Colorado small businesses since 1976. 

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