Denver, July 29, 2015 – Colorado Enterprise Fund (CEF) announced it was awarded a $15,000 grant from Xcel Energy to support CEF’s entrepreneurial development program, Business Acceleration Services (BAS), offered to its small business borrowers in Colorado. Xcel Energy will present its grant award check to CEF on August 10.
CEF began its partnership with Xcel Energy in 2012 with a $10,000 grant award to support its in-house BAS program. Through BAS, CEF provides business assessments, customized advising and skill-building resources post-closing to help its borrowers expand their management capabilities and succeed as small business owners.
"We are honored to receive this special grant award from Xcel Energy," said Ceyl Prinster, President and CEO of Colorado Enterprise Fund. “CEF is focused on building economic prosperity through small business development and this grant allows CEF to directly respond to the increased demand for business technical assistance statewide. Xcel Energy’s support of our work helps us position more small business owners for success and helps small businesses 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. Approximately 25% are new businesses with the majority of CEF’s new and existing borrowers specializing in service, retail, and manufacturing industries where the potential for local job growth is 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 important focus areas: STEM education, workforce development, environmental stewardship, and access to arts and culture. In 2014, Xcel Energy invested over $13 million in support of communities across its service territory.
About Colorado Enterprise Fund
Founded in1976, Colorado Enterprise Fund (CEF) provides loans up to $500,000 to finance small businesses and start-ups unable to secure funding through traditional banks. With a mission to accelerate community prosperity by financing and supporting entrepreneurs and small businesses, CEF has provided over $43 million in loans to more than 1600 businesses to help create or retain over 13,000 jobs in the state since 1990. A nonprofit Community Development Financial Institution (CDFI), CEF is based in Denver with lending services available statewide. For more information, visit: www.coloradoenterprisefund.org
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