Colorado Enterprise Fund Receives $50,000 Grant from Blue Ocean Foundation
Funding to Support New and Existing Small Businesses in Weld and Larimer Counties
Denver, April 2, 2019 – Colorado Enterprise Fund (CEF), a Colorado-based nonprofit loan fund that finances small businesses and start-ups that are blocked from mainstream capital sources, announced today that it was recently granted $50,000 by Blue Ocean Foundation. The grant will advance the efforts of CEF to provide small business loan capital and coaching services to expand and diversify the small business economy throughout Northern Colorado.
Through this support from Blue Ocean Foundation, CEF will lend $1.6M and provide 280 business-coaching hours to Larimer and Weld County entrepreneurs to help them build their small business. The grant will directly support CEF-administered community microloan programs in Weld County, Longmont, Loveland, and Innosphere (STEM Startup Incubator), along with lending activity in Fort Collins.
Founded in 2015, Blue Ocean Foundation is a Colorado-based charitable nonprofit organization with a “Give to Grow’ mission to promote healthy economic development in communities throughout Larimer and Weld counties. The Foundation serves as a catalyst for community growth by providing support for entrepreneurialism and programs that promote healthy economic development in Larimer and Weld counties.
“CEF investors, like Blue Ocean Foundation, empower eager entrepreneurs to fill a need, solve problems and create their own success, for themselves and their local communities,” said CEF President and CEO Ceyl Prinster. “With established partnerships throughout multiple communities, and funding support from philanthropic organizations, we’re better able to directly expand access to entrepreneurship, build businesses and drive economic growth.”
“Investing in small business development and entrepreneurship are the best ways to create individual and community prosperity, and we are thrilled to partner with Colorado Enterprise Fund,” said Nancy Richardson, Co-Founder of Blue Ocean Foundation. “The support that the businesses receive through CEF will help create individual and community prosperity and generate opportunities for economic mobility for all citizens.”
For more information on applying for a CEF loan in Larimer and Weld Counties, contact Lewis Hagler, CEF’s Director of Business Development at 720.473.4055 or by email at [email protected]
About Colorado Enterprise Fund
Founded in1976, Colorado Enterprise Fund (CEF) provides loans up to $500,000 to finance small businesses and start-ups unable to obtain funding through traditional banks. CEF has dispersed over $80 million in startup and growth capital to over 2,300 businesses and created or retained more than 12,000 jobs in the state. A non-profit Community Development Financial Institution (CDFI), CEF is based in Denver with lending and advisory services available statewide. For more information, visit: www.coloradoenterprisefund.org
About Blue Ocean Foundation
Blue Ocean Foundation is the charitable arm of Blue Ocean Enterprises. The Foundation supports economic growth in the local community through impactful giving and its “Give to Grow” mission. For more information, visit www.blueoceanfoundation.org.