Creative Enterprises Revolving Loan Fund Now Accepting Applications

Creative Enterprises Revolving Loan Fund Now Accepting Applications

The Denver Office of Cultural Affairs (DOCA), with its program partner the Denver Office of Economic Development, is now accepting applications for the Creative Enterprises Revolving Loan Fund (CERLF). The CERLF 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, handcrafts, design and media.

The CERLF is resuming after being temporarily suspended in September 2008. The suspension was the result of a change in the operations of Micro Business Development Corporation, which had been contracted by the City to administer the program.

Funded through Community Development Block Grant monies, the CERLF supports Denver’s creative economy with small amounts of capital provided at reasonable rates, combined with recommendations for business improvements, resulting in the strengthening and stimulation of the creative sector. The CERLF may be used for business personal property, income-generating opportunities and some space refurbishment/remodeling. The loan applicant must be a resident of or establish their business in the City and County of Denver. Creative enterprises may apply for loans ranging from $5,000-$30,000. Rates and terms vary depending on the loan amount.

Denver’s CERLF is a unique program which few other cities can boast. "The city of Denver benefits greatly from a healthy and vibrant creative community, including quality jobs, revitalized neighborhoods and impressive tourist attractions," stated Erin Trapp, director of the Denver Office of Cultural Affairs. "Therefore, it’s only appropriate and necessary that we find innovative ways to support these enterprises."

"When it comes to the economic vitality of our city, one cannot underestimate the importance of our arts community," said André Pettigrew, executive director of the Denver Office of Economic Development. "These businesses contribute to the social fabric of our city and serve an important and unique role in strengthening Denver’s sense of place making, which results in Denver being a stronger market for businesses to start up, relocate or expand."

For more information on the CERLF, including rates and terms, and to review the loan application process, please visit www.denvergov.org/CreateDenver or call 720-865-4314.

The CERLF is a program of DOCA’s Create Denver initiative. Create Denver exists to support, promote and grow Denver’s creative sector. It includes policy recommendations, programmatic initiatives, technical assistance and advocacy.

The mission of the Denver Office of Cultural Affairs is to advance the arts and culture in the City and County of Denver.


Posted on Thursday, February 05, 2009 (Archive on Monday, January 01, 0001)
Posted by kl2010  Contributed by kl2010
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