On this page, you will find information on all you need to know throughout the life of your loan like: how to make a payment, what to do if you need to make a change to your account, how to utilize our free business coaching services via our Business Acceleration Services (BAS) team, and more.
We hope you'll take a few minutes to watch this welcome video from our President and CEO, Ceyl Prinster.
Below are common situations that you may encounter over the life of your loan.
Changes to Your Account
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As a CEF customer, you can schedule one-on-one sessions with our Business Acceleration Services (BAS) Advisors, plus access an online library of free, downloadable workbooks and more, for the life of your loan.
[schedule a meeting]
Our in-house team of success advisors are here to help you develop good habits, the right structure, and the confidence and knowledge to grow – all free of charge.
These advisors are experts in their fields and will help you to reduce small business risk and support your long-term success through personalized, one-on-one business advising and coaching.
Take your initial business assessment with your advisor by scheduling a meeting below. They will then work with you to build a customized road map of the next steps to move your business forward and meet with you, over the duration of your loan, for continued learning and growth.Schedule a Meeting Contact Us
Small businesses and nonprofits – 501(c)(3)s, including religious organizations, with 500 or fewer employees; self-employed individuals and independent contractors. Business in certain industries can have more than 500 employees if they meet applicable SBA size standards for those industries.
For purposes of loan eligibility, the CARES Act defines the term employee to include “individuals employed on a full-time, part-time, or other basis.” A borrower must, therefore, calculate the total number of employees, including part-time employees, when determining their employee headcount for purposes of the eligibility threshold.
This loan has a maturity of 2 years and an interest rate of 1%. The maximum loan amount is up to $10 million. (Note: Colorado Enterprise Fund’s PPP program has a maximum loan amount of up to $250,000.)
Businesses must be operating with paid employees on February 15, 2020; be able to certify the need for funds during the COVID-19 emergency, and be able to certify the use of funds to retain workers.
Applicant/Borrower will not be responsible for any loan repayment if:
Eligible payroll costs:
Eligible non-payroll costs:
If you have employees, the following methodology should be used to calculate your maximum loan amount:
Documents you must provide:
If you currently have a pending application with another lender, it may be faster to pursue an existing application rather than submit a new one with Colorado Enterprise Fund.
We encourage you to reach out to your lender to confirm that your application is still in the pipeline for submission. However, if you have not heard back from your lender or have no confirmation of your pipeline status, or in other words, consider your application “abandoned”, you may submit another application with us.
If you are a nonprofit 501(c) (3) organization, here are the steps to follow in the Owner/Authorized Signer tab of the application:
Step 1: Under “Owner Name”, put in the name of the authorized signer for the entity
Step 2: Select the “business entity” option (not “individual”)
Step 3: Enter the authorized signer’s title (e.g. President, Executive Director, etc.)
Step 4: Provide the TIN for the entity
Step 5: Under owner’s SSN, provide the SSN and date of birth for the authorized signer. You will also need to upload a photo ID for the authorized signer.
Step 6: Provide authorized signer’s address
Step 7: Provide name, address and date of birth for any additional authorized signers or officers for the organization
Step 8: Upload photo IDs for each listed authorized signer or officer
Step 9: Provide the date of incorporation for your entity and upload formation documents.