The Colorado Enterprise Fund has made its largest commercial real estate loan in its history, saying the project provides food in a neighborhood that had lost its grocery store.
The CEF is a nonprofit Denver-based Community Development Financial Institution (CDFI) and makes micro and small business loans.
Fund officials said today it has made a $1 million loan into a real estate project known as the Chambers Place Redevelopment Project in Denver's Montbello neighborhood. The money comes from its Healthy Foods Fund, set up specifically for healthy food financing projects.
But beyond the money — which is double the CEF's normal loan limit — the executives at the fund also led the charge in getting other financial institutions to help with the financing of the $10.5 million project, which includes a Save-A-Lot grocery store.
Read more at the Denver Business Journal: http://bit.ly/2Dv3aUs