Denver, June 28, 2017 – Colorado Enterprise Fund (CEF) announced it was awarded a $25,000 grant from Xcel Energy Foundation to support CEF’s lending outreach and entrepreneurial development program for its small business borrowers in Colorado. Xcel Energy Foundation presented its grant award check to CEF on June 9th.
CEF began its partnership with Xcel Energy Foundation in 2012 with a $10,000 grant award to support its in-house Business Acceleration Services (BAS) program. CEF received another grant award for $15,000 in 2015 to continue support of this program. Through BAS, CEF provides business assessments, customized advising and skill-building resources to help its borrowers expand their management capabilities and succeed as small business owners.
"We are honored to receive this generous grant award from Xcel Energy Foundation," said Ceyl Prinster, President and CEO of Colorado Enterprise Fund. “By supporting our efforts to build economic prosperity through small business development, CEF can directly respond to the increased demand for loans and technical assistance statewide. Xcel Energy’s funding helps us ensure more small business owners are set up for success so they can grow and create more jobs across Colorado.”
Small businesses like those financed by CEF play an important role in the overall prosperity of Colorado’s rural and urban communities. The majority of CEF’s new and existing borrowers specialize in professional services, retail, manufacturing and food service industries where the potential for local job growth remains strong.
About Xcel Energy
Xcel Energy is a major US electricity and natural gas company operating in eight Western and Midwestern states. The company is committed to providing cost-effective, clean, responsible energy delivered with the highest standards for safety, reliability and responsiveness. Xcel Energy supports communities in four focus areas: economic sustainability, education, environment, and arts and culture. In 2015, the Xcel Energy Foundation distributed nearly $3.8 million in grants to its focus areas, contributing a total of just under $14 million to its local communities. https://www.xcelenergy.com/
About Colorado Enterprise Fund
Founded in1976, Colorado Enterprise Fund (CEF) provides loans up to $500,000 to finance small businesses and startups unable to secure financing through traditional banks. With a mission to accelerate community prosperity by financing and supporting entrepreneurs and small businesses, CEF has provided over $60 million in loans to more than 2000 businesses to help create or retain over 17,000 jobs in the state. A nonprofit Community Development Financial Institution certified by the US Department of the Treasury, CEF is based in Denver with lending services available statewide. www.coloradoenterprisefund.org