April 18, 2024
Celebrating the Collective Impact in Rural Colorado
Since 2015, FSWCF and FSWB have strategically pooled resources to provide inclusive and equitable capital, credit, and financial services to all community members – including those historically unable to access them – so that everyone has the opportunity to prosper and thrive.
Collectively in 2023, FSWCF and FSWB supported 295 businesses in 90 Colorado communities, investing over $89 million.
FSWCF pioneered new and innovative ways to support diverse entrepreneurs and small businesses, investing $5.6 million across rural Colorado, up 75% from $3.2 million in 2022. Of those businesses financed, 77% were women-owned and 55% were BIPOC-owned (Black, Indigenous, People of Color). These investments resulted in 193 jobs created and 160 jobs retained, tangible results that are essential to create thriving rural Colorado communities.
“We take pride in responding to and investing in community needs and priorities, empowering entrepreneurs, fueling small businesses and fostering collaborations and partnerships that will enable sustainable, thriving rural communities resulting in improved social, economic and environmental outcomes throughout Colorado,” stated Rosy Aburto McDonough, Executive Director of First Southwest Community Fund.
FSWB secured grants and formed partnerships to increase investments in schools, healthcare organizations, local governments, libraries, early childhood education centers, environmental causes, affordable housing, and varied nonprofit organizations, furthering the bank’s CDFI mission. The bank is able to combine grant funds with bank loans, allowing them to provide a packaged loan product that has a lower payment than other loan products on the market, making it easier for people and businesses to access and pay for loans.
“We pool resources to provide inclusive and equitable access to financial services and resources – including those historically unable to access them – so that everyone has the opportunity to prosper and thrive,” said Kent Curtis, Board President of First Southwest Community Fund and CEO & President of First Southwest Bank.