Colorado Enterprise Fund

Colorado Enterprise Fund (CEF) has a mission to accelerate community prosperity by financing and supporting entrepreneurs and small businesses. They specialize in loans for small businesses and startups unable to secure traditional bank financing. Founded in 1976, CEF offers loans up to $500,000 to support the success of small businesses, the prosperity of local communities, and the growth of Colorado’s diverse economy.  In its 40-year history, CEF has loaned a total of $62 million, with 96% of loan funds paid back. More than half their 2,000 loans have helped low income business owners. CEF’s current portfolio includes Creative Businesses such as:

Knotty Ties creates custom-designed ties, bowties, scarves and pocket squares in Denver, Colorado, through an eco-friendly process using 100% organic materials. In 2013, CEF provided Knotty Ties with a loan that allowed them to buy new equipment to increase production capacity at a time when typical investors were not yet interested in their business model. As a result, Knotty Ties has been able to drastically increase sales and staff. They partner with refugee and asylum resettlement agencies like the African Community Center to hire skilled workers who’ve recently resettled to the United States¹ One of their employees, Hibo, grew up in conflict-ridden Somalia: “At Knotty Ties, I find peace. And a place with freedom to learn, to laugh, and to grow where you want to.”²

Mondo Guerra is a socially-conscious fashion brand and business founded by Denver-based fashion designer Mondo Guerra. Having gained fame from the Project Runway reality television series, Mondo saw increasing demand for his designs but limited financial resources. In 2014, CES provided Mondo with a loan that allowed him to increase production, inventory and staff. As a result, he has been able to grow his business and increase his advocacy efforts. Some of his efforts include design projects with the Colorado Aids Project and World AIDS Day, spokesperson for HIV/AIDS educational initiatives run by Merck and Subaru, working to end youth homelessness in Denver, and empowering young people through art therapy.³

Icebox Knitting manufactures knit headwear and accessories using antique machinery and sustainable and renewable materials under their brands Xob and Dohm. To date, CEF has provided Icebox Knitting with two loans, one for raw inventory material, and one for expansion. As a result, Icebox has been able to increase production and distribute not only across the United States, but to Japan and South Korea. The business is now a certified B-Corp, a four-time recipient of “Best of Boulder,” the Apparel Magazine Innovator of the Year recipient, and named one of the Best in the World for Environmental Impact.⁴

Fortuna Chocolate makes premium chocolate products from ethically-sources Mexican cacao. After spending years researching the origins of cacao and searching for the most sustainable and best producers, Fortuna’s founders were ready to start their business in Denver, but needed capital. In 2015, CES provided them with the loan they needed to turn a mobile library truck into a mobile chocolate manufacturing lab. Fortuna has since not only grown their business by selling their premium chocolate products, but have advocated for sustainable production and sourcing. In the future, they hope to expand their product line to other ethically-sourced products.⁵