The Boulder Microloan Program is a partnership between the City of Boulder, Boulder Small Business Development Center, Boulder area financial institutions, and the Colorado Enterprise Fund. The microloan program helps provide general working capital to qualifying small businesses and nonprofit organizations in the Boulder area that have the ability to repay a loan, but may not be able to obtain financing through traditional sources.
The fund provides loans up to $50,000 to businesses and nonprofit organizations with annual gross revenues of less than $2 million.
- Encourage business ownership and self-employment as a means of economic self-sufficiency for low and moderate income individuals
- Bridge the gap for businesses which might eventually qualify for bank financing and prepare them for traditional bank relationships
- Facilitate job creation and retention for low and moderate income residents of the community who are employees of small businesses that would access the fund
- Foster diversity in the business community by encouraging business ownership among ethnic minorities, women, and the disabled
- Promote entrepreneurship and business innovation as a means of harnessing the creative potential of small business and investing in the economic success of the community
- Encourage the development and growth of nonprofit organizations who serve the community
For more information or to apply for a loan, contact Lewis Hagler of the Colorado Enterprise Fund at 303-860-0242, ext. 14 or [email protected].