Colorado Lending Source - FirstBank PPP Credit Facility - Gates Family Foundation
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Project Description

In 2020, Gates Family Foundation used its balance sheet to guarantee a loan totaling $12.5 million from FirstBank to Colorado’s three SBA-approved nonprofit lenders (Colorado Lending Source, Colorado Enterprise Fund, and Dreamspring), which allowed them to make Paycheck Protection Program (PPP) loans to thousands of small businesses across Colorado, including many minority-, women-, and veteran-owned small businesses during the COVID crisis. All loans guaranteed by this PRI were fully repaid by July 2021.

Read more here: Gates commits and leverages $14.8M to support Colorado small businesses impacted by COVID-19

Amount $4,666,500
Year Awarded 2020
Support Type Program-Related Investment
Strategic Priorities

COVID-19 Response > Access to Economic Opportunity

Areas Served

* Statewide

Term 2 years
Payment Schedule