First Southwest Bank Secures Grants for Eight Small Businesses

First Southwest Bank • June 9, 2020

As a CDFI Bank, First Southwest Bank (FSWB) partners with other organizations to best serve our customers. We partnered with the National Community Investment Fund:  "National Community Investment Fund (NCIF) invests capital in institutions, primarily banks, that increase access to responsible financial products and services in underserved communities. NCIF contributes to their success by aggregating capital and knowledge and leveraging opportunities. NCIF generates reasonable financial, social, and environmental returns for its investors and funders."

Recently, NCIF launched the NCIF Cares Initiative, a grant program designed to help small business customers of CDFI banks which have been disproportionately impacted by the COVID-19 crisis. First Southwest Bank submitted applications on behalf of our customers and are pleased to announce the following businesses were awarded a $1,250 grant:

  • Colorado Catch plays an important role in the food supply chain and is an example of a business that serves its customers through their sashimi grade product, the environment by reusing water whenever possible, their employees through housing and transportation, and their community through fundraisers and donations. 

  • Through this award, Elevated Dental will be able to serve their patients in a safe, protected manner. Telluride residents will sleep easier knowing they can access necessary dental services without adversely risking their health.

  • Alpine Medical & Specialty Practices is a single service provider which has seen a sharp decrease in appointments because patients are afraid of exposure. This award will enable them to stay open so they can continue to see patients for routine appointments, freeing up the hospitals for COVID-19 patients and medical emergencies.

  • Saguache Works is a staple in the Saguache community, operating both a health food store and thrift store. They provide needed assistance to low income customers and senior citizens, this award will allow them to continue their great work.

  • San Luis Valley Housing Coalition provides housing options for low- and moderate-income households, a needed service in all communities but more so during this time of crisis. Because of the NCIF Grant they will be able to continue to serve our community.

  • Purple Pig Pizzeria & Pub is an example of a restaurant stepping up to help their community: in addition to their normal operations, they have also provided food for children not at school. 

  • This award will enable Three Guys Freight to continue their operations. Three Guys Freight hauls food, critical supplies, commodities, and all sorts of goods throughout the lower 48 – this award will have an impact beyond our local community.

  • Clearnetworx has been working with local schools to provide internet access to students who didn’t have a hookup. This award will enable them to continue expanding access to internet in our rural communities.

 You can learn more FSWB’s work as a CDFI here.