Lending with Impact
BUILD Denver Loan Program
Small business loans to start and grow businesses within the City and County of Denver
How is this possible?
The funding was allocated by the Denver Economic Development and Opportunity (DEDO) to help underserved business owners start, grow, and build multi-generational wealth. BUILD Denver is funded by the City's Herman Malone Fund, a special revenue fund created in 2022 to expand access to capital and increase investment in undercapitalized Denver small businesses who have historically lacked access to or have been underserved by traditional sources of financing. CEF is partnering with DEDO to launch a unique revolving fund that offers affordable loans and business coaching. As the loans are repaid, funds are reinvested into new Denver small business loans, thereby sustaining the program for years to come.
Applications open as of Monday, June 1, 2026.
Who Can Apply?
- New or existing business physically located within the City and County of Denver
- Small businesses not eligible for financing through a traditional bank
- Be registered & in good standing with the Colorado Secretary of State's Office
- Meet eligibility criteria such as being current with Denver on any existing loan, contract, or tax obligation.
Loan Amount & Terms:
- Special Rate of 4.99%. on loans $10K up to to $350k (If you need a larger loan amount, CEF has other loan products to supplement this lending source.)
- Terms vary based on use and amount, but can be up to 120 months
- Special Rate provided by DEDO rate subsidy. This rate can change based on funds deployed under this program.
Loan Uses:
- Working capital
- Equipment
- Inventory
- Lease payments or commercial loan obligations
- Refinance or debt consolidation
- Tenant finish or property improvements
- Purchase of a business
- Refinancing of high-interest non-bank business debt such as merchant cash advances and business credit card debt. Exisiting bank/credit union and CEF loans are not eligible.
Applications Open
Monday,
June 1, 2026
Informational Sessions:
Frequently Asked Questions
Loan Applications will be available June 1, 2026. BUILD Denver is a program to increase the investment in entrepreneurs and small business owners in Denver who have traditionally lacked access to affordable funding. The City and County of Denver has awarded this program to Colorado Enterprise Fund (CEF). This is a 3-year award not to exceed $3 million a year, for a total of $9 million. The program is derived through and limited by the Herman Malone Fund from sales tax dollars collected from cannabis sales in Denver, per ordinance CB 21-1289. CEF will match the loan capital of at least 25% of the program funding allocated.
No. The BUILD Denver Loan Program is not a guarantee. All loan applications submitted in completion, with all necessary documentation, will be evaluated by Colorado Enterprise Fund staff according to their underwriting and loan procedures.
Complete applications will require applicants to provide their business license number and federal EIN, tax ID number, or Individual Taxpayer Identification Number, as well as a modest amount of financial and other business information.
Complete applications will require applicants to provide their business license number and federal EIN, tax ID number, or Individual Taxpayer Identification Number, as well as a modest amount of financial and other business information.
• Business must be physically located within the boundaries of the City and County of Denver.
• Be registered with and in good standing with the Colorado Secretary of State’s Office.
• For-profit, small businesses engaged in activities that are legal under applicable law.
• Be in good standing with local, state, and federal taxing and licensing authorities.
• Meet underwriting criteria established by Colorado Enterprise Fund.
• Previous funding support through Denver Economic Development & Opportunity (DEDO) will be taken into consideration. There will be no duplication of benefits.
• Applicants must be current with the City and County of Denver on any loan, contract, or tax obligation as due, or in compliance with any rule, regulation, or provision on existing or past City contracts.
Not eligible to apply:
• Membership organizations such as clubs and Homeowner Associations (HOAs)
• Commercial banks
• Real estate holding entities
• Nonprofit organizations
• CEF will NOT provide loans for certain types of businesses such as marijuana, e-cigarettes, gambling, adult entertainment, pyramid, or illegal activities.
• Be registered with and in good standing with the Colorado Secretary of State’s Office.
• For-profit, small businesses engaged in activities that are legal under applicable law.
• Be in good standing with local, state, and federal taxing and licensing authorities.
• Meet underwriting criteria established by Colorado Enterprise Fund.
• Previous funding support through Denver Economic Development & Opportunity (DEDO) will be taken into consideration. There will be no duplication of benefits.
• Applicants must be current with the City and County of Denver on any loan, contract, or tax obligation as due, or in compliance with any rule, regulation, or provision on existing or past City contracts.
Not eligible to apply:
• Membership organizations such as clubs and Homeowner Associations (HOAs)
• Commercial banks
• Real estate holding entities
• Nonprofit organizations
• CEF will NOT provide loans for certain types of businesses such as marijuana, e-cigarettes, gambling, adult entertainment, pyramid, or illegal activities.
Maybe. We encourage City and County of Denver businesses that have previously received city funding to still submit an interest form, but if you have received previous funding support, your application will be evaluated for duplication of benefits (to avoid funding the same or similar activities) and for past loan performance.
In addition to supporting cannabis small businesses, the Herman Malone Fund has an overarching mandate to assist historically underserved businesses. The BUILD Denver program is one program funded by the Herman Malone Fund specifically focused on businesses who lack access to traditional capital. Because this particular program has been structured as an affordable loan program, the program is not currently able to support cannabis businesses because of federal banking restrictions. We will continue to closely monitor any changes to the regulatory environment. There are other local tools accessible to Cannabis businesses in Denver that can be found at DEDO’s website: denvergov.org/bizhub
• Working capital, including inventory
• Expenditures for fixed assets, including equipment
• Purchase of commercial real estate building; new construction of facilities for operations
• Leasehold improvements ( interior and exterior of commercial building)
• Start-up expenses
• Purchase of business located within City and County of Denver’s geographic boundaries.
• Refinancing of high-interest non-bank debt ( Merchant Cash Advances & Credit Card debt)
• Expenditures for fixed assets, including equipment
• Purchase of commercial real estate building; new construction of facilities for operations
• Leasehold improvements ( interior and exterior of commercial building)
• Start-up expenses
• Purchase of business located within City and County of Denver’s geographic boundaries.
• Refinancing of high-interest non-bank debt ( Merchant Cash Advances & Credit Card debt)
Uses NOT permitted for loan funds:
• Can’t be used to solely pay owner’s remuneration, including but not limited to wages, bonuses, or similar types of compensation.
• Can’t be used to pay for legal expenses, or penalties assessed for criminal violations, or to pay adverse civil judgements stemming from operation of the business.
• Can’t be used to pay fees, assessments, liens, or penalties due to the failure of the borrower to collect or remit applicable taxes
• Can’t be used to refinance existing traditional business debt (bank/credit unions or CEF loans)
• Can’t be used for anything illegal under local regulatory authority
• Can’t be used to solely pay owner’s remuneration, including but not limited to wages, bonuses, or similar types of compensation.
• Can’t be used to pay for legal expenses, or penalties assessed for criminal violations, or to pay adverse civil judgements stemming from operation of the business.
• Can’t be used to pay fees, assessments, liens, or penalties due to the failure of the borrower to collect or remit applicable taxes
• Can’t be used to refinance existing traditional business debt (bank/credit unions or CEF loans)
• Can’t be used for anything illegal under local regulatory authority
Yes, use of funds can be used for several things such as working capital, machinery/equipment, leasehold improvements, business purchase, business real estate, business debt consolidation.
No, you do not have to have a physical store location, you can be a home-based business and you can be in an industry such as technology/software that does not typically have physical inventory. The location you conduct the majority of your business operations from must be in Denver. You will still need to meet underwriting criteria and sometimes that requires collateral so personal assets may be necessary if there are no business assets.
For a list of generally required documents for the loan application, please visit this link.
CEF provides a wide range of business navigation (coaching & technical assistance) both pre and post loan. They can help with financial management including cash flow projections and balance sheet along with other help in marketing, management, etc. To speak directly with a business navigator, please complete a form and someone will be in contact. Business Navigation link
For businesses just getting started, CEF generally requires a minimum credit score of 650. However, we also take into consideration many other factors when evaluating your loan application, particularly for businesses operating for two or more years. While improving your credit takes time and dedication, it can strengthen your financing opportunities. Although CEF does not directly provide credit restoration services, we can recommend a few reputable services that may be able to help.
As long as the loan is for the location within the City and County of Denver, you can apply for the loan.
CEF will work with you to determine when loan payments will start when there is a construction element to the loan.
There is no formal deadline to apply. Funding availability through Build Denver depends on approved applications and respective loan amount. We encourage applying early to access the subsidized interest rate. If those funds are no longer available, CEF can still process your loan application and discuss alternative loan options that may suit your financing needs.
Yes, funding is available for high-interest, non bank business debt such as merchant cash advances and business credit card debt. Exisiting bank and CEF loans are not eligible for refinancing.
The timeline can vary significantly based on how quickly the borrower provides requested information and documentation. The timeline is usually around 90-120 days. Prompt submission of financial statements, tax returns, business plans, and other required materials can help keep the process moving forward and avoid delays.
For loan requests over $50,000, CEF will generally review whether the loan may qualify for an SBA 7 (a) loan guarantee. An SBA guarantee can help CEF provide financing to more businesses and may allow for larger loan amounts. Because the SBA process requires additional documentation and review, these loan requests may take longer to approve than smaller loans.
We accept documents created in Quickbooks or Intuit.
While there are provisions in our loan documents that borrower must comply with such as annually providing financial information for loan reviews and possibly collateral requirements (if needed) CEF, generaly, does not have performance based covenants in the loan terms.
If you have questions, please contact CEF via email
