The Creative Enterprises Revolving Loan Fund offers creative enterprises in the City and County of Denver access to affordable and flexible business capital to increase income and build assets. Creative enterprises are defined as non-profit organizations and for-profit businesses producing or selling fine art, photographic and graphic art, performance art, handcraft and design and media. In 2008, the maximum loan amount increases to $40,000!
Pilot Year a Success!
During the 2007 pilot year, the CERLF:
Ø Served over 44 creative business clients
Ø Approved 9 loans totaling $97,500 in the first year to creative enterprises in Denver County
Ø Made a loan decision in an average of 4 weeks – longest application process was 8 weeks; shortest was 1 week
Ø Repayment rate: 100%
Ø Sustained or created approximately 22 jobs
Ø 20% of the clients served accessed financing
Click here to download the 2008 brochure! For more information including eligible uses, rates and terms, please contact Micro Business Development Corporation at
www.microbusiness.org/creative or call 303-308-8121.
The CERLF is funded by the Community Development Block Grant (CDBG) monies through a joint program of the Denver Office of Economic Development, Denver Office of Cultural Affairs and Micro Business Development Corporation.