The Colorado Employee Ownership Loan provides up to $10,000 to help businesses offset the cost of converting to an employee ownership structure. This loan is in the pilot stage and will fund about 10 businesses.
The loan can be used for up to 50% of the cost of technical assistance such as:
- legal services
- business advisory services
bill passed in May 2021, we are updating requirements, eligibility, and uses for this loan. In the meantime, we invite you to apply for the loan based on current requirements below. Please sign up for the Employee Ownership Monthly Newsletter for updates on this program as we have them.Based on a
The owner of the business must hold the loan. To apply for this loan, your business must:
- have operated in Colorado for at least one year
- have at least three full time employees
- have an annual net revenue of $5 million or less
- offer the employee ownership opportunity to 100% of employees
- have plans to create or have an existing employee ownership agreement with at least half of the employees
Based on the bill passing, we are updating eligibility to offer this resource to more people. If you don't qualify for the loan currently, please check back soon to view new and extended eligibility guidelines.
To apply for this program, email the Business Contact below to begin the application process. These applications have a rolling deadline, meaning lenders will review applications as they receive them.
We are looking for nonprofit lenders, community development financial institutions, and banks to participate in this program. For more information on becoming a lender partner, email the lender contact below.