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Impact Report 2023

Impact Report FY22-23

October 1, 2022 – September 30, 2023

A Message from Our CEO - Test

A Message from RMMFI’s CEO

To the RMMFI Community,
I am excited to share with you the remarkable year we had at the Rocky Mountain MicroFinance Institute (RMMFI). It has been a momentous year, marked by a significant milestone – 15 years of RMMFI’s unwavering dedication to empowering Colorado entrepreneurs. This report will not only provide insights into our past year’s accomplishments but also offer a glimpse of where we are headed.
RMMFI’s mission has always been grounded in the transformative power of entrepreneurship, and this year was no exception. Within this report, we present our three key priorities that have guided our efforts in the past year. Our overarching theme this past year was “Extending Our Reach.” As we grew, we stayed committed to fostering a community-focused and partner-connected approach that amplifies the impact of our work on the wider ecosystem.

We reflect on our priority to support formerly incarcerated entrepreneurs and how it has laid the foundation for uplifting our highest barrier business owners, as we continue to provide equitable access to opportunities for our formerly incarcerated community.

We celebrate our milestone in capital deployment – from $1 million in 14 years to $1.5 million in 15 years. Our “capital meets capacity” philosophy has proven to be a driving force behind our impact.
Our impactful, proven model has ignited demand, and as we look ahead, we recognize the need to adapt our systems for scalability and sustainability.
Throughout this report, you will find stories that highlight the profound influence of our work on the entrepreneurs within our network. We also showcase news articles and features that celebrate the incredible achievements of our entrepreneurs.
It’s essential to acknowledge that none of our accomplishments would be possible without the steadfast support of our valued community. Thank you for joining us on this journey of reflection, celebration, and commitment to a future where opportunities know no bounds. Together, we will continue to reduce barriers and create opportunities for accessible, inclusive entrepreneurship throughout our state.

In Community,

Jessica Sveen, CEO

Our Lens

Our Lens

North Star

People are unstoppable forces. Life circumstances are real and sometimes overwhelming, yet they should not determine what we can do in the present or be in the future. We believe everyone should be free to make choices to activate the possible. RMMFI creates the space for communities and people of all backgrounds to realize their unique potential through the power of entrepreneurship.

DEIA Statement of Commitment

RMMFI recognizes that in order to pursue our North Star we must approach our work and lead through a framework of racial, gender, and geographic equity. We know racial inequities and systemic barriers in education, access to capital, and access to opportunity have kept people of color and systematically marginalized communities out of mainstream access. We intentionally take part in conversations about structural racism as well as engage diverse voices in problem-solving, decision-making, and issues of accessibility.

Theory of Change

Who We Serve

RMMFI supports resilient Coloradans who are ready for business ownership that have faced marginalization, societal barriers, or low-wage employment. RMMFI works with entrepreneurs from a variety of high-barrier backgrounds across locations, ages, and demographics which results in a diverse, welcoming community of entrepreneurs.

Key Activities

INSPIRE entrepreneurs to activate their dreams SUPPORT the whole entrepreneur EDUCATE on business foundations INVEST through character-based capital CONNECT entrepreneurs to coaches and community ADVOCATE for inclusive entrepreneurial ecosystems

Outcome
Journey & Impact

Idea Outcomes

Entrepreneurs build community with one another

Entrepreneurs explore and ideate business concepts

Entrepreneurs identify barriers to personal and professional success

Launch Outcomes

Entrepreneurs develop meaningful connections to coaches, customers, and community

Entrepreneurs launch and capitalize their business

Entrepreneurs recognize their own potential and are empowered to define their personal and professional success

Thrive Outcomes

Entrepreneurs invest in their communities as owners, employers, and local leaders

Entrepreneurs and their households experience financial stability and growth through operating thriving, resilient businesses

Entrepreneurs experience self-worth, personal agency, and fulfillment of dreams, potential, and ideas

Impact

Ownership of Self

Entrepreneurship Activates Potential

58% of entrepreneurs report that they’re on the path to achieving what they want in life

Ownership of Wealth

Economic Mobility and Inclusion

73% of businesses remain open and active for at least 2 years

Ownership of 
Community Health

Vibrant, Unique, and Empowered Communities

76% of entrepreneurs are involved with community events and business partnerships

Year-End Snapshot

Year-End Snapshot

Year-End Snapshot