Colorado Enterprise Fund disbursements eclipse $3.5M mark in Longmont

LONGMONT — The Colorado Enterprise Fund announced this week that it closed a loan this month for Here We Grow, a new childcare facility, helping push the CEF past the $3.5 million mark in funds lent to small businesses in Longmont.

CEF held a celebration on Wednesday with local city and business leaders celebrating the funding milestone, which has seen money disbursed to 84 Longmont small businesses in all.

The CEF has closed nine loans this year in Longmont ranging from $8,000 to $90,000 apiece.

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CEF is a statewide nonprofit lender that launched the Longmont Loan Fund in 2010 in partnership with the city of Longmont to help provide access to capital for local businesses that are unable to obtain financing through traditional sources but are capable of sustaining a business and repaying debt.

The LFF was originally established with $120,000 in Community Development Block Grant funds provided by the city and matched by CEF, and the LLF has since grown to more than $650,000.