We are launching a Black-led CDFI (Community Development Financial Institution) in Colorado—governed and operated by African American and African immigrant leaders—to close racial wealth gaps, unlock business and homeownership opportunities, and redirect capital into Black communities across the state.

Why this matters

• Persistent disparities: Black Coloradans face systemic barriers to capital, credit, and asset-building that conventional lenders have not resolved.

• Representation matters: Financial institutions led by the communities they serve achieve better outreach, culturally competent underwriting, and higher success rates for borrowers.

• Economic multiplier: Investing in Black-owned small businesses, nonprofits, homeowner rehabilitation, and community real estate generates jobs, stabilizes neighborhoods, and grows generational wealth.

Our mission

• Provide affordable, flexible loans and technical assistance designed for Black entrepreneurs, homeowners, and community organizations.

• Channel philanthropic, federal, and private capital into culturally informed products: small business lines, microloans, real estate acquisition and rehab financing, homeowner repairs, and working capital for community-based organizations.

• Build financial capability through coaching, credit-building programs, and culturally relevant financial education.

• Serve as an anchor institution for Black-led development, partnering with municipalities, employers, and other CDFIs to scale impact.

Core principles

• Black leadership: Board and executive team comprised predominantly of African American and African immigrant leaders with proven experience in finance, community development, and business.

• Community accountability: Community advisory councils and transparent impact metrics to ensure products meet on-the-ground needs.

• Flexibility and dignity: Underwriting that values character, cash flow, and community contribution—not just pristine credit scores.

• Catalytic capital: Use debt, guarantees, and subsidy to de-risk projects that traditional lenders avoid.

Initial products and services

• Small business loans (micro to growth-stage) with flexible terms and credit-building supports.

• Real estate acquisition and predevelopment financing for Black-owned commercial corridors and mixed-use projects.

• Home repair and downpayment assistance targeted to Black homeowners and prospective buyers.

• Technical assistance: business coaching, bookkeeping, lending readiness, and credit repair programs.

• Impact investment products for philanthropic and private investors seeking measurable social and financial returns.

Impact goals (first 5 years)

• Deploy capital to hundreds of businesses and homeowners across Colorado.

• Increase business revenue and job creation in targeted Black communities.

• Measurably improve credit scores and homeownership retention among program participants.

• Leverage public and private funding to scale sustainable operations and capital reserves.

How we will get there

• Raise startup and loan capital from philanthropy, impact investors, and state/federal programs (including CDFI Fund resources).

• Assemble a leadership team and board reflecting the community with deep operational and lending experience.

• Establish partnerships with local government, economic development agencies, banks for loan participations, and trusted community organizations for outreach and TA.

• Implement rigorous impact measurement and borrower-centered underwriting systems.

Call to partners and funders We are seeking early capital partners, mission-driven investors, philanthropic donors, and policy allies who want to invest in a Black-led financial institution that delivers measurable economic justice. Your support will seed loan funds, underwriting reserves, and the technical assistance needed to scale.

We are ready to build a durable, community-rooted CDFI that centers African American and African immigrant leadership, changes who controls capital in Colorado, and drives lasting wealth creation for Black families and neighborhoods.

Ready to apply for the Ascent Community Capital CDFI small business support? Here’s exactly what you need to get started and how to increase your chances of receiving preference.

What you need to apply

• Completed application form (accurate and legible)

• Business summary: 1–2 page overview (business model, products/services, target market, stage of operations)

• Ownership and management information: names, roles, resumes or bios for principals

• Personal identification: government ID for owners (driver’s license, passport)

• Business documents:

  • Business registration (state filing, DBA, or articles of organization)

  • Federal EIN (or SSN for sole proprietors)

  • Operating agreement or bylaws (if applicable)

• Financial information:

  • Current bank statements (last 3 months)

  • Recent profit & loss statement and balance sheet (if available)

  • Interim financials or cash-flow projections if you’re early-stage (3–12 months)

  • Personal financial statement for owners (assets, liabilities)

  • Credit history explanation for any significant derogatory items

• Use of funds statement: clear, line-item plan for how loan or investment will be used and expected impact on business growth

• Collateral information (if available): description and documentation of any assets you can pledge

• Permits and licenses: local/state business licenses, health/industry permits if required

• References: at least two business or professional references

Application preferences and priority

• Preference will be given to entrepreneurs who:

  • Completed a Colorado-based training program (incubators, accelerators, small business classes, technical training)

  • Have an active relationship with one of our affiliated organizations:

    • African Chamber of Commerce

    • Colorado Black Chamber of Commerce

    • The Urban League of Metro Denver

    • Aya Foundation

    • The Center for Community Wealth Building

    • Access Mode

• “Relationship” can mean current membership, program completion, a referral, advisory support, or documented mentorship/partnership with one of these organizations.

How to demonstrate preference

• Include certificates of completion, program letters, or a short statement from the program verifying participation

• Provide a referral or endorsement letter from your affiliated organization contact, or include an email trail that shows the relationship

• If you’re working with one of our partners, note the partner’s name and contact on your application

Tips to strengthen your application

• Be concise and specific: quantify revenue, customers, and growth projections

• Show traction: contracts, purchase orders, or sales receipts speak louder than promises

• Explain impact: how your business benefits the Colorado community, creates jobs, or serves underserved populations

• Prepare realistic financials and be transparent about risks or past challenges

• Demonstrate repayment ability: a clear path to cash flow positive or revenue growth

• If you lack formal financials, provide strong alternative documentation (bank deposits, signed contracts, invoices)

What happens after you apply

• Initial review for eligibility and completeness

• Follow-up requests for missing documents or clarification

• An interview or pitch may be scheduled with our loan committee

• Decision and terms offered; if approved, closing and funds disbursement

Need help getting ready?

• Contact one of the affiliated organizations for pre-application coaching and training

• Gather documents early—missing paperwork is the most common cause of delay

Be bold. Get your paperwork ready, document any Colorado training or partner relationship, and make your case with clear financials and a concrete plan for growth. We’re looking for entrepreneurs who are ready to scale impact across Colorado.