Colorado awarded $5.7M from feds to fund small biz growth, create jobs

By: InnovatioNews Wednesday December 4, 2013 0 comments Tags: Cris White, Denver, Ken Lund, OEDIT

DENVER - The Colorado Housing and Finance Authority (CHFA) and the Colorado Office of Economic Development and International Trade (OEDIT) announced the state has been awarded a second disbursement of $5.7 million from the U.S. Treasury Department's State Small Business Credit Initiative.

"We're pleased that our success is being rewarded with an additional $5.7 million to fund the growth of Colorado's small business community," said Cris White, CHFA's executive director and CEO.

"By working with Colorado's banks and community development financial institutions, we hope to leverage these funds with private capital to help businesses raise up to $50 million in new money for our state's economy."

Colorado was awarded a total of $17.2 million through the SSBCI program in October 2011, which it is receiving in three separate disbursements.

To date, the federal funds have generated $28.8 million in private sector financing to Colorado businesses.

"We are thankful for these funds that enable Colorado's small businesses to leverage new capital and create more jobs," said Ken Lund, OEDIT executive director.

"The program's successful deployment shows that our economy and our businesses remain dynamic and are moving in the right direction."

For more information, visit www.chfainfo.com/getthedealdone or call CHFA at 800-877-2432.