Colorado Enterprise Fund partners with Goldman Sachs on small-biz loan program

DENVER — Goldman Sachs is providing $3 million in loan capital to the Denver-based nonprofit Colorado Enterprise Fund that can be accessed by small businesses along the Front Range.

Denver-based CEF is partnering with Goldman Sachs and the Goldman Sachs Foundation to deliver $3 million in loans to small businesses in communities in low- to moderate-income areas.

CEF provides loans up to $500,000 to finance small businesses and startups unable to obtain funding through traditional banks.

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In order to apply for a Goldman Sachs 10,000 Small Businesses loan through CEF, businesses must be in operation for at least two years, have more than $150,000 in revenue and a minimum of two employees.

Goldman Sachs selected CEF as a partner through a competitive-bid process to select lenders that could expand the 10,000 Small Businesses program into underserved urban areas, as part of an ongoing national initiative.

“CEF is delighted to partner with Goldman Sachs on its 10,000 Small Businesses Initiative,” said Ceyl Prinster, president and chief executive of CEF. “We greatly appreciate their capacity-building support of CEF, not only with this major financial commitment but also in terms of their excellent training resources for both CDFIs and the small businesses we serve.”

Small-business owners in the area interested in seeking practical business education can apply for the Goldman Sachs 10,000 Small Businesses national education program. The 10-week program is delivered in partnership with Babson College through a combination of online and in-person learning. Scholarships cover participation in the program, as well as reasonable travel expenses to participate in the in-person portions of the program. To learn more about the loan and educational programs, click here.