~ The City of Colorado Springs and Exponential Impact have joined forces once again to support small businesses in El Paso County through the Accelerate COS: Small Business Loan Program. This program, a part of the Survive and Thrive initiative, aims to provide local businesses with access to low interest loans, mentorship, and learning opportunities.

Shawna Lippert, economic development manager at the City of Colorado Springs, expressed her excitement about the partnership, stating that "the City of Colorado Springs is excited to continue its partnership with Exponential Impact on the Accelerate COS program to support our business community." She encouraged eligible businesses to apply for this program that offers capital, education, and mentorship.

Small businesses headquartered in El Paso County with less than 50 full-time employees and at least 6 months of operating revenue are eligible to apply for the program. This loan program is ideal for businesses looking for growth opportunities, planning to hire and train employees, redefining their business model, or facing barriers in accessing traditional financing.

Max Cupp, Executive Director of Exponential Impact, also expressed his enthusiasm for the upcoming Survive and Thrive cohort. He stated that "Exponential Impact looks forward to the launch of the next Survive and Thrive cohort" and encouraged small businesses in El Paso County to apply for a loan up to $50,000. Cupp emphasized that this program not only provides immediate capital but also lasting community connections.

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Applications for the upcoming Survive and Thrive: Accelerate COS cohort will close on November 22. Accepted businesses will secure a three-year low interest loan with 2% interest in year one, 3% in year two, and 4% in year three (0% if paid in full during year one). They will also participate in an eight-week long Survive and Thrive program where they will receive personalized mentorship and education from industry experts.

Brandy Nunes, a Survive and Thrive alum and owner of Nunes Partners, shared her positive experience with the program. She stated that "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."

Interested businesses can apply for Survive and Thrive: Accelerate COS from October 28 to November 22, 2024. Exponential Impact is offering weekly information and Q&A sessions during the application period. Businesses can learn more about the program, check eligibility requirements, sign up for an info session, ask questions, and apply at exponentialimpact.com/accelerate-cos. Don't miss this opportunity to support your small business and take it to the next level!

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