Let's talk about your business! Please contact DEDO's Business Development team at 720.913.1999.
Denver’s new Microlending Program provides lending capital and support services to small businesses and entrepreneurs who lack access to traditional and conventional capital sources. Our goal is to help create, retain, stabilize, and expand local small businesses.
This program can provide small loans of up to $50,000. The program’s broad goals encompass financial empowerment, community and individual wealth-building, job creation and retention, and neighborhood stabilization.
Loans from $5,000 to $50,000 with terms up to five years are available to both startup or expansion phase companies.
This program is also focused on support small businesses' stabilization efforts during the COVID-19 epidemic. For more information about the Denver Microloan Program and how to apply, visit our lending partnert's website.
The intended applicants for this program meet some or all of these characteristics:
· Companies will less than $1 million in gross revenues
· Challenged with obtaining business financing through financial sources
· Low- to moderate-income, both as existing or aspiring entrepreneurs
· Strong links to neighborhood placement/preservation and service in Globeville, Elyria/Swansea, Montbello, East Colfax, Westwood, or Sun Valley
· Minority or women-owned (i.e., at least 51% of the business)
· Multi-generational ownership
· Goal to create or retain full-time jobs in the such industries of as manufacturing, technology and agriculture technology, outdoor recreation, professional/financial business services, health care and bio sciences, energy, or authentic and vibrant retail and hospitality
· Certified through Denver’s Division of Small Business Opportunity (DSBO)
Community Enterprise Development Services (CEDS) has unique experience identifying promising business start-ups or expansions and underwriting small business loans for what are sometimes marginalized and underserved businesses.
Their ability to work with under-connected entrepreneurs and small business owners is evident from their track record. Of the loans CEDS issued in 2018 to Denver clients, 96% were issued to minority borrowers; 61% immigrant/refugee borrowers; 14% formerly incarcerated borrowers. CEDS offers interest rates that are lower than most financing entities in the region for non-traditional loans.
Let's talk about your business! You can contact:
Any of Denver's community development corporations, in partnership with the Small Business Administration, can provide below market rate, long-term financing on commercial and industrial fixed assets located in Denver.
*In most instances, the Colorado Housing and Finance Authority (CHFA) will purchase a 90% participation in the first mortgage. Please check with CHFA on current interest rates and loan servicing fees.
For further information, you may contact the DEDO Business Development team at 720.913.1999.
DEDO periodically updates the Denver Capital Matrix, a resource directory of funding sources for Denver small businesses and entrepreneurs. The matrix identifies funding sources, including traditional bank lending, venture capital firms, private equity firms, angel investors, mezzanine sources and others that have funded Colorado businesses. The matrix provides contact information and categorizes the investment focus of each listed organization.