Q1
2017
ISSUE
No. 1
the value of human capital 

diverse, inclusive, prosperous

Ceyl Prinster
President and CEO
Coming off our historic 40th anniversary year in 2016 combined with recent national events, I'm inspired to ask -- what makes a community healthy, prosperous and sustainable? How do small businesses and other community organizations create an environment where no one is left behind? 

At CEF, we get capital to new and existing Colorado businesses that strengthen communities with commerce, jobs and a quality of life that other states would envy. But does economic prosperity also increase diversity and inclusivity in communities across our state?
 
I have to say yes, based on the success of some of our visionary borrowers whose businesses integrate cultures and help people new to our country. Click here to read about them.

borrower buzz | boulder vision associates

Dr Richard Cross Founder and Owner

Being able to provide quality comprehensive eye care to his patients without constraints or limits was what propelled Dr. Richard Cross to open his own vision care business over 20 years ago. Active in research studies exploring eye health and on various community boards, Dr. Cross also founded the  Eye Health Institute  in 2001, a nonprofit providing free vision services to the poor in Jamaica. When Dr. Cross first decided to open his business, he needed financing and found Colorado Enterprise Fund (CEF). Read how this community-minded entrepreneur financed his business for maximum impact  with help from CEF.

where are they now wednesdays? | new success stories series
 
We kicked off our new fiscal year with a focus on borrowers who have worked with CEF for up to 30 years. This new social media campaign, Where Are They Now Wednesdays?, debuted in November on the second Wednesday of the month. Read how early entrepreneurs like System 76, Don's Custom Cabinets, Boulder Vision Associates and Fiona's Deli Bakery and Catering invested in their long-term success by working with CEF to access financing and technical assistance when they needed it. Check back each month for a new success story highlighting our borrowers' deep commitment to their local communities.

partner profile | First Citizens Bank - Boulder
  
Colorado Enterprise Fund (CEF) has worked with First Citizens Bank in Boulder since 2013 when the bank made its first investment of $25,000 to the City of Boulder Microloan Fund (BMF) which CEF administers. Recently, First Citizens Bank renewed its support of the BMF, doubling its investment to $50,000 so more small businesses could access capital to start or grow their enterprises within Boulder city limits.

The BMF, established in 2009 to help the city retain and attract small businesses affected by the recession, provides loans up to $50,000 to businesses with annual gross revenues of less than $2 million. Goals of the funding program include growing  business ownership and self-employment as a means of economic self-sufficiency for low and moderate income individuals, br idging the gap for businesses which might eventually qualify for bank financing and prepare them for traditional bank relationships, f acilitating job creation and retention for low and moderate income residents of the community who are employees of small businesses that would access the fund, f ostering diversity in the business community by encouraging business ownership among ethnic minorities, women, and the disabled, and promoting  entrepreneurship and business innovation as a means of harnessing the creative potential of small business and investing in the economic success of the community. 

To date, the BMF has deployed 94 loans valued over $3.5 million to service, manufacturing, healthcare and construction businesses. The $1.8 million fund has been capitalized by investments and grants from local banks like First Citizens, the City of Boulder, and CEF.

First Citizens Bank & Trust Company is a North Carolina state-chartered commercial bank headquartered in Raleigh. It is a wholly owned subsidiary of First Citizens BancShares, Inc., a $31 billion financial holding company. Established In 1898, First Citizens began as the Bank of Smithfield in Johnston County, North Carolina where it grew to more than 500 branches in 18 states. It is the largest family-controlled bank holding company in the United States with branches in Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, New Mexico, Missouri, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington and West Virginia. Services include personal banking, business banking, wealth management, investment and insurance services.

Thank you,  First Citizens Bank, for partnering with CEF to drive small business growth and development in Boulder.

 
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