FY24 Annual Report - Flipbook - Page 3
Letter from Leadership
Igniting Impact:
A Remarkable Year for
Colorado Enterprise Fund
2024 was a year of transformation and
achievement at Colorado Enterprise
Fund (CEF), where we truly met our
goal of Igniting Impact. Together we
reached new heights, empowering
small businesses and fostering
economic growth across Colorado.
Over the past year, CEF funded an
unprecedented 223 small business
loans, totaling more than $15 million.
This all-time high was made possible
by streamlining our internal processes
and expanding our capacity to
facilitate larger business loans. As part
of that total, we deployed the
remaining funds of the Colorado
Startup Loan Fund, achieving 100% of
this three-year initiative’s goal in just
two years.
Our efforts extended beyond small
business lending as we continued to
drive community impact with the New
Markets Tax Credit (NMTC) program.
In collaboration with investor banks,
we financed transformative projects
worth over $38 million to assist highly
impactful partners like Habitat for
Humanity, Food Bank of the Rockies,
Cleo Parker Robinson Dance, and the
Rocky Ford Clinic. Furthermore, CEF
was awarded another $60 million in
NMTC allocations in September 2024,
enabling us to further incentivize
community and economic growth in
the years ahead.
Milestones and Recognition
This was also a year of some significant
milestones and recognitions:
Small Business Administration’s
Community Lender of the Year in
Colorado: A testament to our
dedication to serving small
businesses.
Surpassing $200 million in loans
since our inception in 1976: This
historic achievement contributes to
a cumulative capital deployment of
$369 million across loans, NMTCs,
and grants in our 48-year history.
A $7 million unrestricted donation
from philanthropist MacKenzie
Scott: This generous contribution
underscores the value of our
mission and the tangible impact
we’re making in Colorado
communities. We are deeply
honored and grateful for this
extraordinary investment.
Looking Ahead to 2025
As we embark on FY25, our goals
remain ambitious. We will build on the
momentum of FY24, continuing our
Lending with Impact through
innovative financing and unwavering
support for entrepreneurs and small
businesses. We are proud to be
transforming dreams into thriving
businesses and empowering
communities for a brighter future.
Thank you for being part of this
incredible journey. Let’s keep igniting
impact!
Ceyl Prinster
Brian Peagler
President & CEO
Board Chair
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