“This program has given me the confidence to take on this journey of starting a business. It also presents the opportunity to have a network of fellow entrepreneurs that would be willing to help with anything!”
At the end of June, RMMFI completed our statewide contract with the Colorado Department of Local Affairs (DOLA). As part of DOLA’s Community Crime Prevention Initiative (CCPI), we provided educational programming and business grants to formerly incarcerated entrepreneurs in Northeast and Southeast Colorado.
Over just two years, RMMFI provided almost 2,000 hours of technical assistance to entrepreneurs in these areas. Through our capital-meets-capacity model, we distributed $94,000 in business grants – plus $22,500 in loans from our general loan pool.
19 formerly incarcerated entrepreneurs from Northeast and Southeast Colorado graduated from Business Launch Boot Camp. An additional 9 completed Business Idea Lab and have the opportunity to apply for Boot Camp this fall. Beyond our core programs, these entrepreneurs also received the Entrepreneur Leadership Training Program, which focused on developing leadership and entrepreneurial skills.
The impact of new small businesses in rural communities – along with equitable pathways to ownership – should not be underestimated. Our work with DOLA has supported RMMFI’s expansion across rural Colorado and helped us establish trust and partnerships to continue serving formerly incarcerated entrepreneurs in the northeast and southeast parts of the state. While this contract has ended, we are continuing to offer our rural programming in both English and Spanish, and we are still partnering with DOLA through the CCPI to support entrepreneurs in Northwest Aurora and Trinidad.
For more impact stories from our Northeast and Southeast Colorado programs, read our past entrepreneur spotlights on Jaime Johnson and Jose Romero.
