Create Denver Revolving Loan Fund provided financing for start-up
DECEMBER 17, 2009 — Today Mayor John Hickenlooper, André Pettigrew, Executive Director of the Denver Office of Economic Development, Councilwoman Judy Montero and Tami Door, President & CEO of the Downtown Denver Partnership, welcomed Jiberish Clothing to its new storefront location at 1620 Platte St., Unit F. Jiberish is a client of the City of Denver’s Create Denver Revolving Loan Fund. They received a $15,000 loan in 2008 for inventory and working capital.
The City of Denver is proud to support local businesses through programs such as the Create Denver Revolving Loan Fund, which offers creative enterprises access to affordable and flexible business capital at reasonable rates. Today’s celebration featured a ribbon cutting with Mayor Hickenlooper, André Pettigrew, Councilwoman Judy Montero and Tami Door in clothing by Jiberish.
“We know that there is a strong link between creativity and economic prosperity,” said Mayor Hickenlooper. “Investing in creative businesses helps to grow the entire economy in a real and tangible way by creating jobs and revenues that strengthen the city for everyone.”
“Denver’s creative enterprises, like galleries, fashion boutiques, furniture design studios and fine art studios, make urban living interesting, distinctive and special,” said Tami Door, President & CEO, Downtown Denver Partnership. “Denver’s small retail businesses, like Jiberish, offer unique shopping experiences that make our downtown an exciting place to shop.”
“It’s important that we continue to create an environment, through land use, planning and financing, that allows these creative enterprises to emerge and thrive,” said Councilwoman Judy Montero, District 9.
Speakers also emphasized the importance of buying local, especially in these difficult economic times. Jiberish gives the people of Denver another opportunity to spend their money here.
Owners Dave Boger, Pete Drago and Gabe Anderson founded Jiberish, a Denver-based hip-hop and snowboarding apparel company, in 2005, with their first sale in 2006. Currently, their products are at 43 retailers in 16 countries. They have projected 2009 sales of $350,000. Jiberish’s philosophy is that artwork shouldn’t be left on a canvas—it should be worn around. Artists are hired to inspire the design of the apparel. Jiberish’s location on Platte St. will be its first storefront operation.
The Create Denver Revolving Loan Fund (CDRLF) is a joint program of the Denver Office of Cultural Affairs (DOCA) and Denver Office of Economic Development (OED). The program has loaned almost $200,000 to assist 17 local creative businesses since 2007. The CDRLF is made possible through federal Community Development Block Grant (CDBG) dollars, which are managed and administered by OED.
Create Denver is an initiative of the Denver Office of Cultural Affairs. Create Denver seeks to strengthen the overall health and vitality of Denver by supporting the growth and development of the creative sector, including creative enterprises such as film, music, art galleries, art districts, fashion, graphic design and individual artists. Create Denver is a sector-based strategy that includes policy recommendations, programmatic initiatives, technical assistance and advocacy.