Survive and Thrive: Accelerate COS provides loans, mentorship, and support for El Paso County small businesses
Exponential Impact and the City of Colorado Springs are excited to announce that applications are open now for the Accelerate COS: Small Business Loan Program, a Survive and Thrive program. Accelerate COS supports small businesses in El Paso County with access to low interest loans, mentorship, and learning opportunities through the Survive and Thrive programming aspect.
“At the City, we often hear from businesses that they need more access to capital and guidance on how to grow,” said City Economic Development Manager Shawna Lippert, “That is why we are excited to help continue this partnership with Exponential Impact on the Accelerate COS: Small Business Loan Program. It provides a unique opportunity to help directly support our small businesses who in turn support our community.”
Small businesses headquartered in El Paso County with less than 50 full time employees are eligible to apply for the program. This loan program is an ideal fit for businesses seeking growth opportunities, planning to hire and train employees, redefining their business model, or experiencing barriers in accessing traditional financing.
“Exponential Impact looks forward to the launch of the next Survive and Thrive cohort. Small businesses are eligible to apply for a loan up to $50,000, and we encourage business owners to apply for this program that provides immediate capital and lasting community connections” said Vance Brown, Executive Director of Exponential Impact.
Accepted businesses will secure a three-year, low interest loan with 2% year one, 3% year two, and 4% year three (0% interest if paid in full during year one). They will also participate in the eight week long Survive and Thrive program where they will receive personalized mentorship and education from industry experts.
“The Survive and Thrive loan not only provided the much-needed financial boost to get to the next level and sustain through challenging times, but we were connected with resources and relationships we will lean on into the future,” said Survive and Thrive alumni, Brandy Nunes with Nunes Partners, “We solved real problems during the course that we were spinning our wheels on before.”
Applications for Survive and Thrive: Accelerate COS will be open from April 29 to May 31. Exponential Impact is offering weekly information and question sessions during the application period. Interested businesses can learn more about the program, look at eligibility requirements, sign up for the information session, ask questions, and apply at https://www.exponentialimpact.com/accelerate-cos
About Exponential Impact
From supporting Colorado businesses that impact our local community to supporting early-stage technology startups, Exponential Impact’s mission is to develop the best entrepreneurs humanly possible.