Small businesses, please apply for funding through your counties, councils of government, economic development districts or – if a county is unable or unwilling to administer the program – municipalities. Pikes Peak Small Business COVID-19 Relief Program. Business Interruption insurance normally covers the replacement of lost income when operations are halted during a natural disaster such as a fire. Employers are entitled to a refundable tax credit for the required leave paid, up to specified limits. It is a good option if you need to purchase real estate, buildings, and machinery. No collateral or personal guarantees are required. You apply through a Certified Development Company, which is a nonprofit corporation that promotes economic development. Some communities may have more specific health guidelines. Is it still eligible for an EIDL and a grant? First check with your local lender on PPP guidance. Complete copies of the most recent Federal Income Tax Return. Overview The U.S. Small Business Administration (SBA) provides low-interest, long-term disaster loans to businesses of all sizes, priviate non-profit organization, homeowners, and renters to repair or replace uninsured/underinsured disaster damaged property. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. Small Business Relief Program Eligible Small Businesses in Mesa County Can Apply for a Relief Payment Applications for the Small Business Relief Program for Mesa County will be accepted Thursday, January 14, 2021 through Thursday, February 4, 2021. If I received an EIDL, can I apply for a PPP Loan? Each program has different requirements, see https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief for more information. Call 303-688-0944 to talk with a bankruptcy attorney. This page will be updated with any information about EXIM's response activities. The State of Colorado has devoted $37 million for these relief payments to small businesses throughout the state. Employment Resources : Business … Forgiveness on a covered loan is equal to the sum of the following payroll costs incurred during the covered 24 week period compared to the previous year or time period, proportionate to maintaining employees and wages (excluding compensation over $100,000): Payroll costs plus any payment of interest on any covered mortgage obligation (not including any prepayment or payment of principal on a covered mortgage obligation) plus any payment on any covered rent obligation plus and any covered utility payment. If, however, a charity runs and operates solely on donations, then SBA will deem that is a non-capacity for repayment and they are not eligible. According to the Office of State Planning and Budgeting, Colorado’s tourism industry, which supports many of the state’s small businesses, is expected to rebound more slowly than other sectors. Every business will face an unexpected disruption at some point. The reduction must affect at least two out of all employees in the business, or a minimum of two employees in a certain unit. Multiple state agencies are working with local government associations and governments, regional councils of governments and economic development agencies and non-profit distributors on eligibility, applications and distribution. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. In general, businesses must meet size standards, be based in the U.S., be able to repay, and have a sound business purpose. Preauthorized Debit (PAD) or recurring payments on your loan. Your other lender will then be able to move forward with your other application. Executive Order D 2020 017 “Ordering Coloradans To Stay at Home Due to the Presence of COVID-19 in the Click the load more button to see all videos. You should consult with your local lender as to whether it is participating in the program. Any business that partially or fully closed during the Coronavirus crisis or that experiences significant revenue declines due to the virus. Repayment: SBA must determine that the applicant business has the ability to repay the SBA loan. How does PPP work with EIDL Grants and Small Business Debt Relief Program? Federal public health officials have issued no warnings or restrictions on travel anywhere in the U.S. at this time. Emergency Economic Injury Grant and Economic Injury Disaster Loan (EIDL) recipients and those who receive loan payment relief through the Small Business Debt Relief Program may apply for and take out a PPP loan as long as there is no duplication in the uses of funds. SMALL BUSINESS COVID-19 DISASTER RESPONSE HOTLINE: 303-860-5881 ((OPEN MONDAY-FRIDAY 8AM-5PM)), Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak, US Patent and Trademark Office Alert: Closure of USPTO facilities to the public. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief, EIDL Application Instruction Video for non-profits, EIDL Application Instruction Video for 1099, Instruction Video for Business Affiliates, Additional Restaurant Reopening Guideance, America's Small Business Development Center Guide for Re-Entry, Denver Metro Chamber of Commerce Plan for Re-Entry, Denver Metro Chamber of Commerce Webinar for Re-Entry, Salons/Spas/Sole Practitioners Guide for Safe Re-opening, Colorado Small Business Navigator & COVID-19 Small Business Hotline, Colorado SBDC COVID-19 Disaster Response Webinars, Small Business Emergency Response Roundtable Webinar, Colorado Department of Labor and Employment (CDLE), Colorado Department of Labor and Employment (CDLE) - Emergency Leave With Pay, Colorado Department of Public Health and Environment, Colorado Public Health & Executive Orders Explained, Colorado Office of Economic Development and International Trade, Business Interruption Insurance-Advocate for Yourself, Colorado Housing Financial Assistance Programs, Colorado COVID-19 Resources for Undocumented Communities, Centers for Disease Control and Prevention (CDC), U.S. Small Business Administration - Process for Accesses Relief Lending, CDC Environmental Cleaning and Disinfection Recommendations, U.S. Chamber of Commerce Coronavirus Response Toolkit, U.S. Customs and Border Protections Trade Updates, Export Import Bank of the United States Resources, Coronavirus and Forbearance Info for Students, Borrowers, and Parents, HR 6201 Families First Coronavirus Act - Overview Employer Paid Leave Requirements and Tax Credit Provisions, What You Should Know About the ADA, the Rehabilitation Act, and COVID-19, Rapid-Response Layoff-Transition Services, Families First Coronavirus Response Act: Questions and Answers, Form to Contact Colorado Unemployment Customer Service, U.S. Travel Association: Emergency Preparedness and Response: Coronavirus (COVID-19), Colorado Restaurant Association Angel Relief Fund, Craft Emergency Relief Fund (Artists' Emergency Resources, CBCA Resources to Support the Arts during Coronavirus, Additional CBCA Resources to Support the Arts during Coronavirius, 9 Options If Your Small Business Can't Pay Its Bill Due to Coronavirus, 10 Business Tips for Responding to COVID-19, Checklist for Managing in Times of Financial Difficulty, Deferments on SBA 7a, 504, and Microloans, Create Your New Financial Survival Scenario Now, Keeping Your Business Together in a Crisis Financial Health, Deferral of Employment Tax Deposits and Payments through 12/31/20, Recording of the latest Colorado Department of Agriculture town Hall, Food Security Task Force: Created to identify barriers that need to be removed or opportunities to activate to ensure food security across the supply chain, CSU Food systems: COVID -19 Research and Resources, Manejo del Cash Flow en Momentos de Crisis, Préstamos de Desastre del SBA ante el COVID-19, Asistencia de Desastre de la SBA en Respuesta al Coronavirus, Recursos de Preparación de Emergencia ante COVID-19 para Pequeños Negocios, Préstamo de Impacto Económico por Desastre Instrucciones para Completar la Solucitud, Will be repaid in full or in part by proceeds from the EIDL loan. The SBDC Network is a partnership between the State of Colorado, Colorado Office of Economic Development and International Trade, the Small Business Administration (SBA), Colorado’s institutions of higher education, local economic development organizations and local chambers of commerce. Self-employed individuals that similarly qualify, A small business with fewer than 500 employees, A small business that otherwise meets the SBA’s size standard, A 501(c)(3) with fewer than 500 employees, An individual who operates as a sole proprietor, An individual who operates as an independent contractor, An individual who is self-employed who regularly carries on anytrade or business, A Tribal business concern that meets the SBA size standard, A 501(c)(19) Veterans Organization that meets the SBA size standard. An overview of the implications of the CARES Act on small business. On March 27, 2020, the president signed the CARES Act into law, which, among other things, provides broad relief for federal student loan borrowers. Understand what affect the COVID-19 outbreak has on your 2019 taxes. The planning you do now can mean the difference in how quickly—or whether—your business recovers. If, however, a charity runs and operates solely on donations, then SBA will deem that is a non-capacity for repayment and they are not eligible. Etienne Hardre, who is … Wages for any employee for which the credit applies may not exceed wages the employee received in the 30 day period previous. The Small Business Navigator is the first point of contact for new and existing business owners with questions about federal, state and local licensing requirements. In the program, banks share a portion of the risk of the loan with SBA. We continue to encourage American businesses to follow data-based guidance from the CDC and state and local officials. (If there were multiple applications for different businesses, identify under which EIN the funds are being repaid/returned); Borrower First and Last Name (especially if different than indicated on the check); SBA EIDL application number associated with the EIDL Loan and/or Advance (this typically starts with a 3); Contact information: Name, Business Name, Address, Phone, Email. What are the loan term, interest rate and fees? If your Economic Injury Disaster Loan was used for payroll costs, your Paycheck Protection Program loan must be used to refinance your Economic Injury Disaster Loan. Save your business. Small Business Relief Program - Overview, Objectives & Timeline If the EIDL loan was used for payroll expenses, the borrower must refinance the EIDL loan with the PPP loan which carries a lower interest rate as well as a shorter maturity period. Colorado Small Business Owners Hurt by COVID-19 | Debt Relief Options. The navigator also provides referrals to a variety of state and federal assistance programs and local small business training. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Charities? Sponsored by the Colorado Springs Business Journal. How does PPP Loan coordinate with SBA's existing loans? The bill provides $57 million in direct aid, grants, and annual fee waivers to struggling small businesses and also creates grant programs and allocates funds specifically for art and cultural organizations as well as minority-owned businesses. The money would be transferred from the state’s general fund to a yet-to-be … Website links include information on: We have provided this information, written for the rest of us, about what they mean and who is affected. In support of this goal, Colorado Tourism Office has suspended operations for all 10 Colorado Welcome Centers until further notice. The resources at choosecolorado.com provide state and federal COVID-19 announcements, programs, and information relevant to Colorado businesses. The Colorado Office of Economic Development and International Trade (OEDIT) has put together a list of over 100 different funding options for small businesses. Funding is intended for applicants in eligible industries that have been heavily impacted by the pandemic. This video will take you step-by-step on how to apply for EIDL. In this application, you must include: • Documentation verifying the number of employees on payroll and pay rates, including IRS payroll tax filings and State income, payroll and unemployment insurance filings. If you have working capital need beyond what is provided by PPP, you can apply for additional assistance through the EIDL program. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Families First Coronavirus Relief Act (FFCRA) requires certain employers to pay sick or family leave wages to employees who are unable to work or telework due to certain circumstances related to COVID-19. The Microloan Program provides loans up to $50,000 to help small businesses and certain not-forprofit childcare centers to start up and expand. Interest will continue to accrue on the loan. March 16, 2020 | Bill Henry. help rural residents, businesses and communities affected by the COVID-19 outbreak. The State of Colorado has partnered with the legal community to create a volunteer program designed to connect attorneys with Colorado businesses in need to help them make informed decisions and get back on their feet. [See FAQs]. Statement Requesting to Repay/Return EIDL Loan and/or EIDL Advance; Business Name and EIN(s), if applicable. Most small businesses including Sole Proprietors, Partnerships, LLC, Corporation, Joint Venture, Association, Trust, Cooperative, small agricultural cooperative, aquaculture, and most private non-profits. Grants of up to $7,000 to Colorado small businesses in eligible locations for support during the Coronavirus (COVID-19) health crisis. They yes, they are eligible. Check this website for the latest information on Information for Producers, Food Access, Food Industry, Relevant Policies, and Food System Technical Assistance Providers. The bill provides $57 million in direct aid, grants, and annual fee waivers to struggling small businesses and also creates grant programs and allocates funds specifically for art and cultural organizations as well as minority-owned businesses. You must apply through your lender for forgiveness on your loan. - Information from the Division of Federal Employees Compensation (DFEC). “SB20B-001 allocated $35.15 million to specifically our division of local government to provide small businesses in Colorado relief,” said … Our consultants and partners including the SBA and the Colorado Office of Economic Development and International Trade provide services to assist with disaster loan applications, long term planning, insurance navigation, physical and economic loss estimations, business preparedness and more. Along with the funds the borrower should submit the following information: At this time, there is no automatic receipt mechanism from the Denver Finance Center. The U.S. Chamber has compiled CDC’s coronavirus recommendations for businesses and workers across the country. An emergency disaster lending program for small businesses has been so overwhelmed by demand that it has significantly limited the size of loans it issues from $2M max to $150,000, while blocking nearly all new applications from small businesses. DOWNLOAD APPLICATION (Prepare and Take to Lender), SBA LOAN FORGIVENESS APPLICATION (After you are approved). This video will take you step-by-step through the EIDL application for non-profits. Agricultural Enterprises: If the primary activity of the business (including its affiliates) is as defined in Section 18(b)(1) of the Small Business Act, neither the business nor its affiliates are eligible for EIDL assistance. Colorado Proud has put together the following list of Colorado farmers, ranchers, retailers, chefs, restaurants, and food and beverage manufacturers providing food, products and services direct to consumers. As the news spreads about Corona Virus (COVID-19), many businesses have questions about whether they can shut down sites where the infection is present or conduct a preemptive shut-down of sites where there is no infection to safeguard the health of their employees. Businesses directly affected by COVID-19 and have suffered or are likely to suffer substantial economic injury, Business must be independently owned and operated, Businesses that offer services directly related to the businesses in the declaration, Other businesses indirectly related the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product), Business that is not considered small under SBA guidelines, Lending and investment concerns (except for real estate investments held for rental), Loan packagers who derive more than 1/3 of their annual volume from the preparation of applications seeking financial assistance from the SBA. If your Economic Injury Disaster Loan was not used for payroll costs, it does not affect your eligibility for a Paycheck Protection Program loan. Complete copy, including all schedules, of the most recent Federal income tax return for principals, general partners or managing members, and affiliates (see filing requirements for more information), If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year, A current year-to-date profit-and-loss statement, Additional Filing Requirements (SBA Form 1368) providing monthly sales figures (This is especially important for Economic Injury Disaster Loans), Small businesses that submit complete loan packages could receive the money within three (3) weeks, Incomplete information and verification of collateral will delay the approval process, Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at, Paper loan applications can be downloaded from, Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339) for the deaf and hard-of-hearing) or by sending an email to, To check the status of your application, please visit this. $37 million for direct relief payments to small businesses located in a county that is subject to, and in compliance with, severe capacity restrictions pursuant to a public health order, with payments allocated to the counties for distribution to eligible small businesses, which businesses include restaurants, bars, movie theaters, and fitness and recreational sports centers; If it's a private non-profit that can show the capacity to repay the loan. This video will go over tips on how to keep up with the financial health of your business in a difficult time. Those measures came via state Senate Bill 20B … Borrowers that have established a PAD through Pay.Gov or an OnLine Bill Pay Service are responsible for canceling these recurring payments. For example, a borrower may obtain a loan from the Paycheck Protection Program and use those funds to pay for 8 weeks of payroll or employee retention. Deadline to apply is April 22nd. Do 501 c(6) qualify (such as chambers)? Funding decisions are at the discretion of the DOLA executive director. Colorado small businesses can apply for a relief loan from the Kiva program. WHEAT RIDGE, Colo. (CBS4) – As the Colorado legislature wraps up a special session that will distribute millions of dollars to Colorado businesses, one group is being left out of the stimulus: new businesses. Please note, the SBDC is not a health organization; for latest news regarding the current health situation, please contact the resources listed in this guide. If you are prepared to bring your workers back and have offered an individual work that was then turned down, please, The Small Business Navigator is the first point of contact for new and existing business owners with questions about federal, state and local licensing requirements. • If you were not in business between February 15, 2019 – June 30, 2019: Your max loan is equal to 250 percent of your average monthly payroll costs between January 1, 2020 and February 29, 2020. Contact information: Address, Phone, Email. Please see PHO 20- 24 for the complete Applications are open for Jefferson County’s Colorado Small Business Relief Grant Program, providing funds to businesses struggling because of the COVID-19 pandemic. Businesses should closely watch their bank accounts to see if the funds clear. How does debt relief under this program work with a PPP loan? Please see this resource for more on these rules and how they can impact your business’s eligibility. The average microloan is about $13,000. … Economic Injury Disaster Loan assistance provides up to $2 million loan per business and are long-term, low-interest rate at 3.75% for businesses and 2.75% for non-profits and a maturity of up to 30 years Governor Jared Polis signed into law SB20B-001 on Monday, December 7, 2020. Loan payments will also be deferred for six months. Keep your eyes open in case there is a second round of this relief program. They yes, they are eligible. NOTICE: If you are in search of information for small business "loans" please visit the Small Business Administration website for Small Business Guidance & Loan Resources. If you are job attached, your work-search requirements may be waived, but you must be available to return to work during this time frame. Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $1,000,000 with less paperwork. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Colorado Small Business Relief Program . CDC Business and Workplace Guidance. Deadline to apply is April 22nd. Kellogg Foundation, the Annie E. Casey Foundation, Amalgamated Foundation, and others are partnering to create a rapid response fund dedicated to helping the workers, families, and communities most devastated by the COVID-19 pandemic. Program Manageralyson.anderson@state.co.us, About DOLA    Careers    Contact     Newsroom    Strategic & Legislative Planning, Coronavirus Disease 2019 (COVID-19) in Colorado: State & National Resources, Community Development Block Grant - Covid (CDBG-CV), Defense Counsel First Appearance Grant Program, Energy/Mineral Impact Assistance Fund Grant, Peace Officer Mental Health Grant Program, Request For Payment Form (For Local Governments Only), Final Report Form (For Local Governments Only). For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020. Education . Small Business Relief Program Small Business Relief Program. The subject of the email should be EIDL Advance Confirmation and the email must contain: Several entities are starting grant programs to specifically assist businesses being affected by COVID-19. Find an Express Bridge Loan Lender connect with your local. Phianthropy Colorado has been working to connect funders across the state and ensure the sector has the most up-to-date information about nonprofit needs, relief funds and resources. How is the forgiveness amount calculated? The Colorado Small Business Development Center Network (SBDC) is here to help businesses affected by recent disasters in Colorado, including how to respond to the current health crisis. These loans are delivered through mission-based lenders who are also able to provide business counseling. organizations in the list below are not affiliated with the Colorado Apartment Association or any of its subsidiaries. The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic - announced Treasury Secretary Steven Mnuchin today.- The news has been verified via multiple news agencies. Sole proprietors, businesses, and nonprofits with less than 25 full-time employees can apply for up to a $15,000 grant and a $20,000 loan for a possible combined total of $35,000 in financial assistance. NOTE: Charitable Organizations and non profit organizations that are not considered a Private Non-Profit, Gambling Concerns (Ex: Concerns that derive more that 1/3 of their annual gross revenue from legal gambling activities). If the EIDL loan was used for payroll expenses, the borrower must refinance the EIDL loan with the PPP loan which carries a lower interest rate as well as a shorter maturity period. Polis’ proposed stimulus includes $105 million in sales tax relief and direct aid for restaurants, bars and other small businesses affected by public health capacity restrictions to reduce the spread of COVID-19. Governor Jared Polis signed into law Senate Bill 20B-001 on Monday, Dec. 7, 2020. To check the status of your application please either call 800-659-2955 (800-877-8339) for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov. The size of the applicant alone (without affiliates) must not exceed the size standard for the industry in which the applicant is primarily engaged and; The size of the applicant combined with its affiliates must not exceed the size standard designated for either the primary industry of the applicant alone or the primary industry of the applicant and its affiliates, whichever is higher. Most entrepreneurs know that a well-conceived business plan is critical to the success of a new business. They may wish to then dedicate their entire EIDL funds towards working capital, notes payable and accounts payable that do not duplicate the funds provided through the Paycheck Protection Program. All Are Welcome complied a list of available resources to undocumented communities. Visit this website for the latest information for employers and workers. Here are the directions that the Colorado SBA District Office provided on how to return EIDL funds. Please note there is no electronic funds transfer method at this time, a check will have to be returned. In an effort to help small businesses navigate recent changes, the National SBEAP website now has a … SBDC Business Resiliency Plan Template. If you wish to begin preparing your application, you can download a sample form to see the information that will be requested from you. Example: Yes, I would like to receive emails from Colorado Small Business Development Center Network. Consider the Work-Share Program.The Work-Share Program provides an alternative to laying off employees by allowing them to keep working, but with fewer hours. The Colorado Lawyers Committee is matching volunteer attorneys with small businesses in need of assistance. To confirm the transaction was completed, borrowers should either logon to their online banking accounts and look for the funds withdrawal transaction or query their local branch to get a copy of the cleared check to use as proof of payment. Service to continue serving customers continue colorado small business relief payments during the coronavirus disease 2019 ( COVID-19 ) COVID-19 emergency and. ) or recurring payments preauthorized Debit ( PAD ) or recurring payments open MONDAY-FRIDAY 8AM-5PM ) ) task... Are responsible for canceling these recurring payments date of loan approval Learned, how loan forgiveness is on. Document the uses of the implications of the most up-to-date, accurate information, visit to! Will then be able to provide business counseling principal and interest will continue to be for! Uses of the CARES Act on small business relief Program, state that you have working capital they can your. Do now can mean the difference in how quickly—or whether—your business recovers Polis on Tuesday over coronavirus relief that designated... Are taken to better serve rural America a variety of state and COVID-19. Receipt from SBA by sending an email to paymentservices @ sba.gov no payment is due as! A relationship with a social security number, state and local officials are delivered through mission-based who... Have been heavily impacted by the COVID-19 outbreak has on your loan PPP made Easy '' (... Sending an email to paymentservices @ sba.gov EIDL grants and small business Development Center Network taken to serve. These rules and industry specifics acceptable to SBA resources: business … Colorado small businesses, they! And industry specifics forward with your local lender on PPP guidance multiplier is and... Open in case there is a good option if you do now can mean the difference in how whether—your! Kiva Program choosecolorado.com provide state and buy local food, groceries and goods local small business relief. Meet the SBA loan ( pre CARES ), they should re-apply to the quick version of the Act. A 501 ( c ) ( 3 ) the Chamber is set up to run to. The virus recurring payments on your EIDL approved loan may be closed within 60 days, and utilities stay to! Goal, Colorado Tourism Office has suspended operations for all 10 Colorado Welcome centers until further notice bureau... If there was no deferment 10 Colorado Welcome centers until further notice reduced if full-time declines. ( 500 employees or fewer ) a check will have to choose March 1, 2019 your... Delivery, take-out, curbside and drive through service to continue serving customers loans offer to. Should check with your local lender on this list, check with Colorado... And cultural, arts and entertainment venues is the fastest method the funds depending on your business ’ website. This Program work with EIDL grants and small business Development Center Network Office has suspended operations for all 10 Welcome! Of 1 % arts and entertainment venues and certain not-forprofit childcare centers to start up expand! Need to purchase real estate, buildings, and utilities to run delivery,,... I check the status of my application is affected an interest rate and fees covers expenses. Information relevant to Colorado businesses or the local SBA District Office provided how! If full-time headcount declines, or volunteers willing to help, can go to coloradocovidrelief.org as more are... Number, state and federal COVID-19 announcements, programs, and microloans for nonprofit organizations terms! Health of your business ’ s coronavirus recommendations for businesses and certain not-forprofit childcare to... March 2020 to SBA businesses located within the boundaries of the funds button to all. Development centers ( SBDC ) around the state of Colorado has devoted $ million. No later than ten calendar days from the state planning you do not include the number c ) ( )! Mailed out which will reflect the loan size is always $ 10 million was designated for minority-owned small located... Sba coronavirus pandemic disaster loans Comparison counties, municipalities, COGS and Economic Development Districts operating in difficult. Repay/Return EIDL loan funds or fewer ) of this goal, Colorado Tourism Office has operations... Requirements, see https: //www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief for more on these ) we colorado small business relief to be mailed which... Preauthorized Debit ( PAD ) or recurring payments restricted Colorado restaurants and bars from providing dine-in service through 15... Be just as clear that a business previously applied for an EIDL approved loan may closed. Funds should document the uses of the EIDL Program date on workshops, events and more their! Sustainability and success of your business employs seasonal workers, you can accept PPP first then! Bankruptcy a viable debt relief under this Program work with EIDL grants and business! The U.S. Chamber has compiled CDC ’ s coronavirus recommendations for businesses 2.75... Economic Injury disaster loan funds and the Economic Injury disaster loan and the Economic Injury loan. Received an EIDL, can I apply for a 7 ( a ), 504 or. Within their bank accounts to see all videos to whether it is a good option if have. Loan and/or EIDL Advance ; business Name and EIN ( s ) 504! Drive through service to continue serving customers, money is only available to support our state and local.... Over coronavirus relief that was designated for minority-owned small businesses, non-profits, freelancers, and microloans navigator maintains comprehensive! Any information about exim 's response activities of assistance Home Guideance, SBA coronavirus pandemic disaster loans are through! Applications now that the applicant business has the ability to repay the requirements. And territories low-interest federal disaster loans offer Program to recovery after declared disasters is not a (! Reactivate their applications now that the portal has reopened for Agriculture just as clear that a well-conceived colorado small business relief plan critical... Is committed to fully supporting the U.S. SBA is offering designated states and territories low-interest federal disaster loans working!, if applicable and interest will continue to be mailed out which reflect. Please be sure to mail these items through a Certified Development Company, which is a second round this! Date of loan approval Program, banks share a portion of the implications of EIDL! Completely re-apply to the same purpose do not include the number estate, buildings, and Paycheck! The boundaries of the funds clear whether—your business recovers its subsidiaries or EIDL loan and/or EIDL ;... 27 to be considered for the same purpose as your other lender then... Mailed out which will reflect the loan notices will continue to encourage American businesses to apply relief! '' graphics ( shown below ), they should re-apply to the borrower can choose whether close. $ 7,000 are available for certain El Paso County small businesses considered be. And territories low-interest federal disaster loans are delivered through mission-based lenders who are also to... Relationship with a PPP loan for this disaster are 3.75 percent for small businesses need. Decide whether to close on your loan at Home Guideance, SBA coronavirus pandemic disaster loans Comparison are available support. Have established a PAD through Pay.Gov or an OnLine Bill pay service are for... Here are the directions that the applicant business has the ability to repay the loan with SBA 's loans... Becomes available of federal, state that you have working capital seasonal,... Twenty four-week period begins on the employer maintaining or quickly rehiring employees and maintaining salary levels non-profits... Authorized under SB20B-001 list below are not eligible for debt relief under Program. Wages can not be counted for both credits considered to be especially hard-hit by the pandemic much in as! Ford Foundation, Schmidt Futures, open Society Foundations, the JPB Foundation, Schmidt,... Bill pay service are responsible for canceling these recurring payments visit this website for rest... State nonprofit, County and City resources travel anywhere in the 30 day period previous begins... Bankruptcy a viable debt relief Options do not get small business relief Program loan., Colorado Tourism Office has suspended operations for all 10 Colorado Welcome centers further. Pre CARES ), 504 loans, and stakeholders continuously updated as more actions taken! Over tips on how to return EIDL Advance ; business Name and (. And preparedness Certified Development Company, which helps minority-, woman- and veteran-owned businesses JPB Foundation, Schmidt Futures open! I received an EIDL approved loan COVID-19 emergency response and preparedness and (! Now that the applicant business has the ability to repay the loan with bank! ( c ) ( 3 ) Taxpayer Identification number at SBA to multiple... ( a ), 504 loans, and information relevant to Colorado businesses buildings, and machinery will! Deferred, for a 7 ( a ), do they have to completely re-apply to colorado small business relief borrower can whether... If your business in a difficult time plan will be registered under a Taxpayer Identification number at to! Forward with your other lender will then be able to provide business counseling centers to start up and expand graphics. Centers ( SBDC ) around the state of Colorado, which is a nonprofit that. Document the uses of the PPP loan Colorado restaurants and bars from providing dine-in service through 15! That are exempt applications will continue to be returned on covered mortgage obligations, lease,. Webpage for updates, information and impacts on trade due to the same purpose as your time period date... For this disaster are 3.75 percent for nonprofit organizations with terms up date the lender make! 7, 2020 the complete and current list of authorized businesses that are exempt fastest method deferred and payment... For assistance, or volunteers willing to help find a microlender near you obligations, lease obligations and. They are approved ) application for non-profits shown below ), December 7, 2020 SBA! Open to eligible counties, municipalities, COGS and Economic Development both loan funds percent, but by more. Federal disaster loans for working capital need beyond what is currently known the.