By Taylor Perez-Salese
The First Southwest Community Fund (FSWCF), in collaboration with First Southwest Bank (FSWB), announced the release of their 2023 Impact Report. The report highlights the deep impact that these organizations continue to make in our region both individually and together.
Since 2015, FSWCF and FSWB have strategically pooled resources to provide inclusive and equitable capital, credit, and financial services to all community members – including those historically unable to access them – so that everyone has the opportunity to prosper and thrive.
Collectively in 2023, FSWCF and FSWB supported 295 businesses in 90 Colorado communities, investing over $89 million.
Find the full impact report here to read about many of the people and businesses who were positively impacted from First Southwest Community Fund and First Southwest Bank in 2023.
FSWCF pioneered new and innovative ways to support diverse entrepreneurs and small businesses, investing $5.6 million across rural Colorado, up 75% from $3.2 million in 2022. Of those businesses financed, 77% were women-owned and 55% were BIPOC-owned (Black, Indigenous, People of Color). These investments resulted in 193 jobs created and 160 jobs retained, tangible results that are essential to create thriving rural Colorado communities.
“We take pride in responding to and investing in community needs and priorities, empowering entrepreneurs, fueling small businesses and fostering collaborations and partnerships that will enable sustainable, thriving rural communities resulting in improved social, economic and environmental outcomes throughout Colorado,” stated Rosy Aburto McDonough, Executive Director of First Southwest Community Fund.
FSWB secured grants and formed partnerships to increase investments in schools, healthcare organizations, local governments, libraries, early childhood education centers, environmental causes, affordable housing, and varied nonprofit organizations, furthering the bank’s CDFI mission. The bank is able to combine grant funds with bank loans, allowing them to provide a packaged loan product that has a lower payment than other loan products on the market, making it easier for people and businesses to access and pay for loans.
“We pool resources to provide inclusive and equitable access to financial services and resources – including those historically unable to access them – so that everyone has the opportunity to prosper and thrive,” said Kent Curtis, Board President of First Southwest Community Fund and CEO & President of First Southwest Bank.
About First Southwest Community Fund and First Southwest Bank
First Southwest Community Fund (FSWCF) was created in 2015 by First Southwest Bank to provide inclusive and equitable access to capital and gap funding, through a range of innovative programs for rural Colorado entrepreneurs and small business owners. Learn more at fswcf.org<
First Southwest Bank (FSWB) is a locally owned, independent, community bank, and one of two Community Development Financial Institution (CDFI) banks in Colorado, and the only one serving the Four Corners states. FSWB offers personal and business banking, commercial, agricultural and small business loans. Loan and deposit customer dollars are put to work to improve the social, economic and environmental landscape of Southern and rural Colorado. Learn more at fswb.bank
Taylor Perez-Salese is Marketing & Communications Specialist with First Southwest Bank.