The Colorado Employee Ownership Loan provided up to $10,000 to help businesses offset the cost of converting to an employee ownership structure. This loan was in the pilot stage and will fund about 10 businesses.
The loan could be used for up to 50% of the cost of technical assistance such as accounting, legal services, and business advisory services.
For: Businesses considering employee ownership
Amount: Up to $10,000
Application deadline: Closed
OEDIT division: Colorado Employee Ownership Office
The owner of the business must hold the loan. To apply for this loan, businesses must:
- have operated in Colorado for at least one year
- have at least 3 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