Energize Community Program
The Energize Community Program gets small businesses financially ready to access capital and become more resilient. It is aimed at impacting and solving for the needs of very small businesses across four communities: East Colfax, Pueblo, Southwest Denver, and the Child Care Industry. We are currently accepting applications.
What is the Energize Community Program?
The Energize Community Program (ECP) prepares small business owners to successfully apply for loan capital. ECP includes funding readiness workshops, low-interest Gap Fund loans up to $20k, and an accelerator program valued at $1,200. This round of Gap Fund loans is available to small businesses across 4 communities: Pueblo, Southwest Denver, East Colfax, and the Child Care Industry.
See below for information in additional languages.
ECP’s Four Communities
What Does ECP Offer?
To successfully take on loan and grant capital, ECP delivers education, loans, and an accelerator.
In April and May, we hosted a series of funding readiness workshops to share information about Gap Fund loans, the State of Colorado’s Startup Loan Fund, and child care provider grants and loans. View the recordings here.
Gap Fund Loans
We are offering low-interest loans up to $20k across the four ECP communities. We will distribute $5.7M in total.
The ECP Accelerator brings together small business owners in a community cohort model to meaningfully support business owners in reaching their goals. Valued at $1,200, the accelerator is available to ECP Gap Fund loan recipients.
Part 1: Funding Readiness
The ECP Funding Readiness Workshops took place in April and May. They covered:
– Learning about upcoming statewide funding opportunities
– Filing taxes for your business
– Creating a business plan for your loan documents
– Creating a profit & loss statement for your loan documents
To apply for the loans, businesses will need the items listed below. View the loan application guide here, which includes recordings of the workshops.
- Profit & Loss Statement or Income Statement – A profit & loss statement shows an organization’s revenue (or sales), the cost of producing those sales (Cost of Goods), and expenses during a particular period. This helps identify the financial health of your business.
- Balance Sheet – A balance sheet is a financial statement of the assets, liabilities, and capital of a business at a particular period.
- An asset is something that provides a current or future value, or may provide a potential economic benefit to the business or an individual. Examples of an asset are cash, accounts receivable (owes you money), buildings, etc.
- A liability is something that would sacrifice an asset or something that your business may owe. Examples of liabilities include money owed to suppliers, mortgage debt, bank debt, credit cards, taxes, etc.
- Capital is the funds invested in the business and can be considered the equity of the business.
- Financial Projections – Financial projections are the art of telling the future about your business using existing or estimated income and expense data. Financial projections provide a financial forecast of the business and is an estimate of future outcomes.
Part 2: Gap Fund Loans
ECP’s Gap Fund Loans are available to the small business owners across these four communities: East Colfax, Pueblo, Southwest Denver, and Child Care Providers. These low-interest loans provide up to $20k with a three year repayment term.
Applications are currently open.
Part 3: Community Accelerator
The Community Accelerator is open to all ECP Gap Fund loan recipients. It provides real-world, sustainable improvement in at least one key business function (i.e. increasing revenue, customer volume, staff retention, etc). It also aims to improve connection within the accelerator cohort as well as with the broader community.
The 14-week accelerator will include weekly cohort meetings including workshops, 1:1 support from a Business Advisor, and a community celebration at the program’s end.
Questions about the Energize Community Program?
Questions about the ECP Gap Fund Loan: [email protected]
Are you interested in partnering with us? Connect with our Director of Strategic Partnerships and Marketing: [email protected]
You can also reach out to the Director of the Gap Fund, Ryan Cobbins, at any time: [email protected]