FY24 Annual Report - Flipbook - Page 4
COMMUNITY
ADVANTAGE
7(a) Community
Advantage
2024 Impact
Loans
33
In FY24, CEF significantly increased our SBA 7(a) Community
Advantage (CA) lending. This strategic focus allowed CEF to offer
larger loans, ranging from $100K to $350K to better support our
borrowers. While learning the program’s processes required
considerable effort, CEF achieved remarkable growth, increasing
from 6 loans in FY23 to 33 loans totaling over $6 million in FY24!
Capital
Deployed
33
Loan Number Count
Total Loan Amount (incl. costs)
$6M+
Jobs Created
& Retained
378
$6,030,600
6
1
$210,000
FY21
CA loans can be used for a variety of business
industries, including child care providers,
which is a focus area for CEF due to the lack
of funding and the child care affordability
crisis in Colorado. One example includes a CA
loan to the Montessori Academy of Northern
Colorado in Greeley. CEF’s first loan to Andrea
Roe, in 2020, was a conventional loan to
purchase the building for her Montessori
business. In 2024, CEF was able to help
Andrea open a second toddler room and
build a privacy fence with the proceeds from
a CA loan. This in turn provided more
affordable care to 10 additional families while
increasing revenues for the business. Another
example is a loan to Clifton Child Care Center
to operate a facility within the newly
constructed Clifton Community Resource
Center in Clifton, CO. Mesa County is a child
care desert with only enough licensed child
care providers to serve 20% of children ages
0-5. Hence, Clifton Child Care Center will now
provide a much-needed service for 200
working families.
2
$1,345,000
$420,000
FY22
FY23
FY24
CEF aims to make
an impact on the
child care crisis by
providing early childhood
businesses with access
to
much-needed capital
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