DENVER – In a climate where many small businesses struggle to secure funding, Nonprofit Colorado Enterprise Fund (CEF) is supporting underserved entrepreneurs.
“The Colorado Enterprise Fund was established in 1976, and since that time, we’ve been helping underserved businesses with access to capital, as well as consulting,” said Alan Ramirez, director of lending at CEF. “For us, an underserved business is really anyone that’s gone to a bank and cannot qualify. So, really focused on that market to help them start and grow their businesses.”
CEF is a community development financial institution (CDFI). They are federally-mandated to supply loans that are focused on helping the community. A CDFI can be a great place to turn to for a business that has been denied a traditional bank loan.
Many entrepreneurs look elsewhere for a loan, and they can end up paying a steep price…