Xcel grant to fund small business development efforts

Xcel Energy has awarded another $25,000 to a fund that offers financing to small businesses in Colorado.

Xcel presented the grant to the Colorado Enterprise Fund to support lending outreach and entrepreneurial development efforts.

“We are honored to receive this generous grant award from Xcel Energy Colorado,” said Ceyl Prinster, president and chief executive officer of the Colorado Enterprise Fund.

“By supporting our efforts to build economic prosperity through small business development, CEF can directly respond to the increased demand for loans and technical assistance statewide,” Prinster said. “Xcel Energy’s funding helps us ensure more small business owners are set up for success so they can grow and create more jobs across Colorado.”

Xcel began its partnership with the Colorado Enterprise Fund in 2012 with a $10,000 grant to support its business acceleration services program. Xcel awarded another grant for $15,000 in 2015 to continue to support the program.

Through the program, the Colorado Enterprise Fund provides business assessments, customized advising and skill-building resources to help borrowers expand their management capabilities and succeed as small business owners.

Based in Denver, the Colorado Enterprise Fund provides loans up to $500,000 to businesses unable to secure financing through banks. The fund has provided a total of more than $60 million in loans to more than 2,000 businesses that in turned have created or retained a total of more than 17,000 jobs. For additional information, visit the website located at  www.coloradoenterprisefund.org.